Musk's acquisition of Twitter triggered a butterfly effect! Former Twitter CEO's First NFT Tweet "Plummets" From 2.9M to $277

In the past few days, the news of Tesla CEO Elon Musk's acquisition of Twitter has been buzzing, and the "butterfly effect" caused by the incident seems to have begun to spread. In addition to causing the stock market volatility, even Twitter founder Jack Dorsey (Jack Dorsey) was also affected.

According to Cointdesk, former Twitter CEO Jack Dorsey sold the first NFT (non-fungible token) tweet last year for $2.9 million, with the highest bid at a recent auction being just $277.

It is understood that in March 2021, Sina Estavi, CEO of the Malaysian encryption company Bridge Oracle, acquired Jack Dorsey’s first NFT tweet for $2.9 million. Last week, Sina Estavi announced that she wanted to sell the NFT on Twitter, even pledging to donate 50% of the amount to charity.

On April 7, Sina Estavi announced on Twitter: "I have decided to sell this NFT (the world's first tweet) and donate 50% of the proceeds ($25 million or more) to charity. ” The NFT tweet was listed for 14,969 ETH (equivalent to $48 million) in this auction.

However, at the auction, which ended April 13, only seven buyers made offers -- ranging from $6 to $277.

According to reports, Sina Estavi had hoped to raise $25 million through the auction and use half of the funds for charity. But now, the result is far from the $48 million he expected.

This week, he posted on social media: "The deadline I set is up, I will sell if the price is right, and may never sell."

On April 14, Tesla CEO Elon Musk suddenly announced the acquisition of Twitter for a total value of about 43 billion US dollars. Once the news came out, it attracted the attention of the whole network. One stone stirred up a thousand waves, and Twitter shares closed down 1.46%.

For Musk's operation, Jack Dorsey actually "welcomed" earlier. On April 5, Jack Dorsey had already responded to Musk's appointment to the company's board.

In a previous tweet, Jack Dorsey said he was "very happy" with the decision and highlighted Musk's role in the world and Twitter in it: "I'm really excited to have Elon on the Twitter board! He cares so much about our world And Twitter's role in it. Parag and Elon are both leading with heart and they're going to be an incredible team."

Of course, Jack Dorsey's response was in response to a tweet from Twitter CEO Parag Agarwal, who had previously announced an invitation to Tesla CEO Musk to join the board, but the invitation was later declined by Musk.