This Week's Top Bitcoin and Crypto News: NFT of Jack Dorsey's Tweet Flops at Auction

Also: Amazon may sell NFTs in the future, Wikipedia votes to end crypto donations, and the Dallas Cowboys have a new blockchain sponsorship.

Welcome to Nonfungible Tidbits, a weekly roundup of news in crypto, NFTs and their related realms.

Our lead story this week shows that NFTs don't always sell for outlandish prices. We'll go over the attempted auction of an NFT of a tweet from former Twitter CEO Jack Dorsey that sold for $2.9 million about a year ago -- and clocked in at a high bid of $280 this week. 

We'll also cover Amazon CEO Andy Jassy's comments on the e-commerce giant's future plans for cryptocurrency and NFTs, Wikipedia voting to end all crypto donations, and the Dallas Cowboys' new blockchain sponsorship deal. 

Former Twitter CEO Jack Dorsey turned his first tweet into an NFT last year and sold it at auction for $2.9 million, which Dorsey then converted into bitcoin and donated to charity. 

Entrepreneur Sina Estav, the owner of the NFT, put it up for auction last week, and tweeted that he expected a $50M winning bid (he also pledged to donate half to charity). But the NFT tanked, earning a top bid of only $280 on the OpenSea NFT marketplace. 

Estav declined the bid. Sellers on OpenSea don't have to agree to the winning bid in a timed auction if the bid is under one ether. 

Estav is accepting new bids on the NFT, and the current offer as of this writing is a little less than $14,000. 

The specs of NFTs linked to tweets are tricky. "NFTs are to digital assets what deeds are to a house: It's not the asset itself, it's a receipt that proves ownership," writes CNET Senior Writer Daniel Van Boom "That may make sense for an NFT created by an artist and sold to a punter, but it makes far less sense for a tweet. 

If Dorsey deletes the tweet, or if Twitter pulls it, the NFT would be for an asset that no longer exists."

During a Thursday interview with CNBC, Amazon CEO Andy Jassy said the company isn't planning to accept cryptocurrency as payment anytime soon However, Jassy, who mentioned he doesn't own bitcoin himself, said selling NFTs on Amazon could be a possibility. 

While a timeline for buying or selling NFTs wasn't given, Jassey said, "I think it's possible down the road on the platform."

On Tuesday, The Wikimedia community, a group that moderates Wikipedia, voted to end all cryptocurrency donations to the platform, citing ethical concerns of accepting the donations and the environmental damage caused by cryptocurrency mining. 

The proposal to end the donations noted the Wikimedia Foundation's commitment to sustainability. 

For reference, Digiconomist's Bitcoin Energy Consumption Index estimates that the carbon footprint of the bitcoin network is comparable to that of the entire Czech Republic. 

Ethereum's carbon footprint is estimated to be comparable to that of the country of Morocco, according to Digiconomist's index. 

Bitcoin and ethereum are the two largest cryptocurrencies by market cap, and NFTs are commonly created on the ethereum network.

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