One of NFT's most famous, Twitter founder Jack Dorsey's first tweet, went down in price by more than 99%. The owner, who bought it for $2.9m, tried to sell it for $48m, but got a bid of $280 and later $96.
NFT's owner, crypto-entrepreneur Sina Estavi, promised to give 50% of the proceeds, which he expected to be at least $24m, to charity. He planned to spend the rest to support his cryptocurrency exchange Bridge Oracle.
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Dorsey's tweet is one of many examples of NFT's devaluation. Last week it was revealed that a token from Azuki's collection called K4M-1 #03, which was bought by famous youtuber Logan Paul last year for $623,000, had fallen in price to $10. Another of his purchases, tokens #65 and #68 from the Genesis Rocks collection, which cost him $1.55m, fell in price to $25.
In the second half of 2021, when the NFT market was booming, tokens were selling for colossal sums. For example, a piece by artist Beeple Everyday went for $69 million at a Christie's auction in 2021. Clock NFT ($52.7 million) is second in value, followed by Human One by Beeple ($28.9 million), CryptoPunk #5822 ($23.7 million) and others.