The NFT is a screenshot of Jack Dorsey’s first tweet from March 21, 2006, which he made on Twitter’s launch day. The 2021 non-interchangeable token was bought by Bridge Oracle head Sina Estavi for $2.9 million.
A year later, Estavi tried to resell the token for $48.9 million. By October, however, the token’s value had plunged 99.9 percent.
The token can now be bought for as little as 0.025 ETH ($47.92) on OpenSea, with a minimum offer of just 0.01 ETH ($19.16).
The token with Dorsey’s tweet isn’t the only one that has fallen hard in value. The value of the Justin Biber NFT from the BAYC collection bought by Justin Biber has fallen tenfold. The pop singer bought NFT from the Bored Ape Yacht Club collection for $1.3 million. However, in a year and a half, the token has fallen in price by 95 percent, leaving Bieber with a loss of about $1.2 million.
Nansen’s analysts also found that the rise of platforms like Blur and OpenSea has caused NFT creators to receive far less in royalties.