$2,900,000 worth of NFT is now valued at only $4

The latest data findings by the crypto analytic platforms confirmed that the popularity of Crypto’s NFTs sector is now over. 

NFTs were a highly popular concept in the crypto sector in 2021. Between 2021 to 2022, crypto & blockchain proponents supported the crypto NFTs concept at a very big level and also said that NFTs can unlock the next level use case of the crypto & blockchain sector. At the time, people were buying & selling some of the NFTs for more than millions of bid prices.

The majority of the crypto analytic platforms showed that NFTs trade volume is plunging rapidly across the NFTs marketplace and this is showing that people are continuously losing their interest from the NFTs sector. 

In the last few days people talked about “Twitter former CEO Jack DorsDorsey’s first tweet NFT”, for which people placed bids of only $4. 

Couple of years back, crypto entrepreneur Sina Estavi bought it for $2.9 million but later decided to sell it for $48 million in April 2022. 

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
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https://t.co/cnv5rtAEBQ pic.twitter.com/yiaZjJt1p0

— Sina Estavi (@sinaEstavi) April 6, 2022

To date people are not interested in purchasing this NFT. The highest bid for this NFT was $47.15 in the last 2 months and the lowest bid is $3.77. 

JUST IN: NFT of Jack Dorsey’s first tweet, originally purchased for $2.9M, is now worth less than $4 in today’s market. pic.twitter.com/RURfE1hU1P

— WhaleWire (@WhaleWire) July 21, 2023

Few crypto Twitter users claimed that it is the actual value of this NFT because the crypto influencers tried their best to manipulate innocent crypto traders to push into the NFTs sector and now we can see the actual value of such useless images.

In late 2021, some people predicted that the NFTs sector will be the main reason to bring the next bear phase. Now the rapidly dumping value of these NFTs is showing that we are in the bear phase of this market, while it is another matter that the bankruptcy of crypto companies is responsible for this downfall of the crypto market.

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