NFT with Twitter founder Jack Dorsey’s first tweet has fallen more than 99.9%: from $2.9m to $96m

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 with Twitter founder Jack Dorsey’s first tweet has fallen more than 99.9%: from $2.9m to $96m

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.


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Withholding Tax General Accepted Accounting Standards Letter Of Intent Scarcity Year-to-date Long-Term Liabilities Non-Disclosure Agreement Chief Operating Officer Return on Investment Chief Marketing Officer Chief Financial Officer Asset Protection Trust Chief Security Officer Certified Financial Planner Electronic Funds Transfer Limited Liability Company Close of Business Company Finance Cash Flow Automated Teller Machine Return on Equity stagnation Certified Management Accountant Non-Profit Organization Certified Financial Manager Chief Technology Officer Profit and Loss Profit and Loss Statement Gross Margin