Economy – Bought for USD 2.9 million, the first tweet in history is now worth a few thousand dollars

First modification: 04/15/2022 – 18:21

The first SMS text message, the first NFT column of ‘The New York Times’ and even luxurious virtual works of art. All have been marketed as non-fungible tokens, an investment modality that has been gaining more and more strength.

An NFT (non-fungible token) is a crypto asset that can record ownership of a digital file, such as an image, video, or text. It is also an investment option that has been gaining strength for months.

In March 2021, Sina Estavi made headlines in the main economic media in the world for achieving a peculiar commercial feat: he bought, for 2.9 million dollars, the NFT of the first tweet in history.

It was a post from March 21, 2006 in which the founder of the social network, Jack Dorsey, announced that he was setting up his account.

A year later, crypto entrepreneur Estavi tries to sell it, but has been faced with less enthusiastic buyers.

Estavi put the tweet up for resale on the popular NFT marketplace OpenSea last week, initially asking for $48 million. That price tag soon wore off after first-week deals were in the low hundreds of dollars. Until Thursday, April 14, the most striking was 2.2 units of cryptocurrency ether, equivalent to around $6,800.

“My offer to sell was high and not everyone could afford it,” Estavi was quoted as saying by Reuters, adding that he was no longer sure whether he would sell his NFT. “This NFT is not just a tweet, this is the Mona Lisa of the digital world,” he said.

Estavi’s initial purchase came amid a groundswell of interest in crypto assets that have since generated billions of dollars in sales. However, the appetite for this highly volatile asset class was not enough this time.

with Reuters