A Non-Fungible Token or NFT of Twitter Inc co-founder Jack Dorsey’s first tweet received the highest bid of just under $280. The current owner of the NFT had put it up for sale for $48 million( ₹3,651,336,000).
The nonfungible token of Dorsey’s first tweet failed to garner much in the way of interest when it was recently put up for resale, according to a Coindesk report.
The NFT was of Dorsey’s first tweet on 21 May, 2006.
The auction for the NFT closed with only seven offers ranging from just 0.0019 Ether to 0.09 ETH, or about $6 to about $280. A far cry from the $48 million sought by the owner.
Crypto entrepreneur Sina Estavi had listed the NFT and committed to donate half of the amount to charity.
“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,” Estavi had said in a Twitter post on 7 April.
He has two days to accept the bid or it will expire. He told Coindesk via WhatsApp, “The deadline I set was over, but if I get a good offer, I might accept it, I might never sell it.”
NFTs are digital assets whose ownership is encoded on a blockchain. For instance, a Bitcoin is fungible – trade one for another bitcoin, and you’ll have exactly the same thing. A one-of-a-kind trading card, however, is non-fungible. If you traded it for a different card, you’d have something completely different.
In theory, owning an NFT means that the holder gets to own and control the digital asset.
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