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A non-fungible token (NFT) of former Twitter CEO Jack Dorsey’s first tweet that was auctioned off last week failed to excite potential buyers after the seller expected to make millions and donate a portion of it to charity.
An auction for the NFT, bought last year for $2.9 million by Iranian-born crypto entrepreneur Sina Estavi, ended with a total of seven bids, ranging from 0.09 Ethereum ($277 at current price ) to 0.0019 Ethereum (almost $6) ranged CoinDesk.
Jack Dorsey, co-founder and former CEO of Twitter Inc., during the Bitcoin 2021 conference in Miami on June 4, 2021. (Eva Marie Uzcategui/Bloomberg/Getty Images)
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An NFT is a digital certificate of authenticity that certifies that an item, such as a work of art or collectible, is genuine and unique by recording the details on a blockchain digital ledger.
Last week, Estavi announced on Twitter that he plans to sell the NFT and give half of the proceeds to charity. The NFT was subsequently auctioned for $48 million.
“I have decided to sell this NFT (the world’s first tweet) and donate 50% of the proceeds ($25M or more) to the charity @GiveDirectly,” Estavi wrote.
“The deadline I set had expired, but if I get a good offer I might take it. I may never sell it,” Estavi told CoinDesk on Wednesday.
Estavi now has two days to accept the offer, otherwise it expires.
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Jack Dorsey attends a cocktail party hosted by Chrome Hearts X Jordan Barrett at La Maison Du Caviar on June 22, 2019 in Paris. (Victor Boyko/Getty Images for Chrome Hearts)
The NFT of the March 2006 tweet, which read, “I’m setting up my twttr,” was originally sold by Dorsey last year for more than $2.9 million, with proceeds going to the non-profit organization Africa Response” by GiveDirectly.
The Associated Press contributed to this article.