The tweet above was Jack Dorsey’s first NFT. In March 2021, during the early days of the NFT boom, it sold for $2.9 million.
Early this month, the owner, Sina Estavi, listed it for $48 million, promising to give half of that to charity. “Why not give 99% of it,” Dorsey quipped.
Two weeks later, the highest bid was for $280. It now stands at $12,000. If sold at that price, it would be a 99% loss in value.
Jonathan Perkins, cofounder of the NFT platform SuperRare, commented: “There has been a lot of experimentation in the space, and I think we’re running up against the boundaries of speculation.”
Greg Isenberg, CEO of the web3 design firm Late Checkout, had a different take. “This wasn’t a real sale,” he said. “There are only several buyers for something as big as this, and the listing price was unrealistic. Serious buyers wouldn’t bid on this. I didn’t.”
My take: Both comments are true.
The tweet above was Jack Dorsey’s first NFT. In March 2021, during the early days of the NFT boom, it sold for $2.9 million.
Early this month, the owner, Sina Estavi, listed it for $48 million, promising to give half of that to charity. “Why not give 99% of it,” Dorsey quipped.
Two weeks later, the highest bid was for $280. It now stands at $12,000. If sold at that price, it would be a 99% loss in value.
Jonathan Perkins, cofounder of the NFT platform SuperRare, commented: “There has been a lot of experimentation in the space, and I think we’re running up against the boundaries of speculation.”
Greg Isenberg, CEO of the web3 design firm Late Checkout, had a different take. “This wasn’t a real sale,” he said. “There are only several buyers for something as big as this, and the listing price was unrealistic. Serious buyers wouldn’t bid on this. I didn’t.”
My take: Both comments are true.
Building Wealth
Jack Dorsey's NFT Plummets From Millions To Thousands
What is an NFT really worth?
The tweet above was Jack Dorsey’s first NFT. In March 2021, during the early days of the NFT boom, it sold for $2.9 million.
Early this month, the owner, Sina Estavi, listed it for $48 million, promising to give half of that to charity. “Why not give 99% of it,” Dorsey quipped.
Two weeks later, the highest bid was for $280. It now stands at $12,000. If sold at that price, it would be a 99% loss in value.
Jonathan Perkins, cofounder of the NFT platform SuperRare, commented: “There has been a lot of experimentation in the space, and I think we’re running up against the boundaries of speculation.”
Greg Isenberg, CEO of the web3 design firm Late Checkout, had a different take. “This wasn’t a real sale,” he said. “There are only several buyers for something as big as this, and the listing price was unrealistic. Serious buyers wouldn’t bid on this. I didn’t.”
My take: Both comments are true.
The tweet above was Jack Dorsey’s first NFT. In March 2021, during the early days of the NFT boom, it sold for $2.9 million.
Early this month, the owner, Sina Estavi, listed it for $48 million, promising to give half of that to charity. “Why not give 99% of it,” Dorsey quipped.
Two weeks later, the highest bid was for $280. It now stands at $12,000. If sold at that price, it would be a 99% loss in value.
Jonathan Perkins, cofounder of the NFT platform SuperRare, commented: “There has been a lot of experimentation in the space, and I think we’re running up against the boundaries of speculation.”
Greg Isenberg, CEO of the web3 design firm Late Checkout, had a different take. “This wasn’t a real sale,” he said. “There are only several buyers for something as big as this, and the listing price was unrealistic. Serious buyers wouldn’t bid on this. I didn’t.”
My take: Both comments are true.
The tweet above was Jack Dorsey’s first NFT. In March 2021, during the early days of the NFT boom, it sold for $2.9 million.
Early this month, the owner, Sina Estavi, listed it for $48 million, promising to give half of that to charity. “Why not give 99% of it,” Dorsey quipped.
Two weeks later, the highest bid was for $280. It now stands at $12,000. If sold at that price, it would be a 99% loss in value.
Jonathan Perkins, cofounder of the NFT platform SuperRare, commented: “There has been a lot of experimentation in the space, and I think we’re running up against the boundaries of speculation.”
Greg Isenberg, CEO of the web3 design firm Late Checkout, had a different take. “This wasn’t a real sale,” he said. “There are only several buyers for something as big as this, and the listing price was unrealistic. Serious buyers wouldn’t bid on this. I didn’t.”
My take: Both comments are true.
The tweet above was Jack Dorsey’s first NFT. In March 2021, during the early days of the NFT boom, it sold for $2.9 million.
Early this month, the owner, Sina Estavi, listed it for $48 million, promising to give half of that to charity. “Why not give 99% of it,” Dorsey quipped.
Two weeks later, the highest bid was for $280. It now stands at $12,000. If sold at that price, it would be a 99% loss in value.
Jonathan Perkins, cofounder of the NFT platform SuperRare, commented: “There has been a lot of experimentation in the space, and I think we’re running up against the boundaries of speculation.”
Greg Isenberg, CEO of the web3 design firm Late Checkout, had a different take. “This wasn’t a real sale,” he said. “There are only several buyers for something as big as this, and the listing price was unrealistic. Serious buyers wouldn’t bid on this. I didn’t.”
My take: Both comments are true.