Iranian crypto entrepreneur Sina Estavi, who purchased the Dorsey NFT, which reads “Just setting up my twttr”, subsequently listed it for a staggering $48m (around £37m) in April 2022. He announced his intention to donate 50 per cent of the proceeds, a minimum of $25 million (around £19.5m), to charity.

Estavi’s crypto ventures Bridge Oracle and CryptoLand collapsed after he was arrested in Iran in 2021.

However, the auction concluded with a mere seven bids, ranging from as low as $6 to $277 (around £4 to £215). Currently, the highest value for the NFT is just shy of £1,560. Mr Estavi said he may not sell, tomshardware reports.

Last year, he said: “It’s important to me who wants to buy it, I will not sell this NFT to anyone because I do not think everyone deserves this NFT.”