Proving that NFT values are completely made up, and as fickle as any speculative investment, a $2.9M NFT may now be only worth just under $97.

Jack Dorsey’s first-ever tweet, which read, “just setting up my twttr,” sold to Iranian-born crypto entrepreneur Sina Estavi for $2.9M (1630.6 ETH).

But at the close of its first auction in April, the NFT only had seven offerings, the highest of which was just under $300.

Now it’s for auction again, with the top bid of only $96.49.

The crypto market in general, is on shaky ground, with Ethereum nosediving 70% since November of 2021 and NFT marketplace activity dropping by a whopping 90% in Q3.

It’s hard to say what will happen to the value of more desirable NFTs, but it may not be good news for big investors. Estavi says he will only consider “good offers” and “might never sell it” – $97 probably won’t do the trick.