NFT Tweet Worth $48 Million: Twitter Co-Founder Jack Dorsey’s First Post

NFTs have gained popularity as a recent trend in technology for selling digital art like music, paintings, photos, and much more.

We have seen more and more people jump into the NFT world in the past few years, along with its skyrocketing popularity.

An NFT is a one-of-a-kind digital token that can be used to verify the authenticity and ownership of other digital tokens. NFTs are stored on the blockchain, a digital ledger that is used in cryptocurrencies such as Bitcoin, Ethereum, and numerous altcoins.

Since the beginning of 2021, NFTs have sold for seven- and even eight-figure sums, reflecting the broader market euphoria fueled by stocks, sports trading cards, and cryptocurrencies.

Jack Dorsey First Tweet

Twitter's former CEO and co-founder, Jack Dorsey, decided to sell his first tweet as an NFT in an open auction at OpenSea on March 6, 2021.

This marks the first NFT tweet, whose winning bid came in at $2.9 million. The tweet, which stated, "just setting up my twttr," was posted on March 21, 2006. Dorsey's tweet received more than 120,000 people who have shared and liked the post, which has received over 157,000 likes.

The bidding ended on March 21, 2021, with a man named Sina Estavi bagging the NFT art. Sina Estavi, the CEO of Malaysian blockchain service Bridge Oracle, had successfully purchased the digitally autographed version of the tweet nearly 15 years later.

As noticed by the date, almost to the day, from when the original tweet by Jack Dorsey was published.

According to CNN, Estavi believes that NFT art is more than just a simple tweet. He stated, in addition, that people will realize the true significance of this tweet years later, just like the Mona Lisa painting. Estavi purchased the NFT tweet on "Valuables", a digital platform that allows for the purchase and sale of tweets that have been autographed by their creators.

According to the website where the tweet was sold, he paid with the cryptocurrency Ether in exchange for the use of the hashtag. Dorsey stated that he will convert the money from the sale into Bitcoin immediately and that the proceeds will be donated to the Give Directly Africa Fund, a charity that assists people living in poverty in Africa.

Jack Dorsey First Tweet at $48.3 Million

A tweet from Sina Estavi, the CEO of Malaysian blockchain service Bridge Oracle, stated that he intends to sell Jack Dorsey's first tweet as an NFT for 14,969 ether, worth approximately $48.3 million, which is 16 times the price Estavi paid for it a year earlier.

It is now available for purchase for that amount on the NFT marketplace OpenSea. Estavi tweeted: "I decided to sell this NFT ( the world's first ever tweet ) and donate 50% of the proceeds ( $25 million or more ) to the charity @GiveDirectly"

Give Directly is also the charity Jack Dorsey chose to give all the proceeds he acquired from originally selling his first tweet NFT.

As reported by Fortune, the substantial price for what is essentially an image of a tweet with a verified owner would place the NFT in the same price range as works of art by famous artists such as Pablo Picasso and Vincent van Gogh.

Paintings by Picasso and Vincent van Gogh have sold for millions of dollars at auction, with Picasso's Femme au béret et à la robe quadrillée fetching $68.7 million in 2018 and van Gogh's L'Allée des Alyscamps fetching $72.4 million in 2015.