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Jack Dorsey, CEO of Twitter, is auctioning off an important piece from the history of the social media platform.
Dorsey shared a link to the digital auction platform Valuable on Saturday, showing that her very first tweet is being offered to the highest bidder, a tweet dated March 21, 2006 in which Dorsey wrote “just setting up my twttr”.
As of Monday, the highest bid is from $ 2.5 million Bridge Oracle CEO Sina Estavi.
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The tweet is sold as a non-fungible token, or NTF. An NTF is a unique digital sign that can turn any item in the digital world from tweets to Gifs, to videos into a collectible asset. Like Bitcoin and other cryptocurrencies, NFTs are sold and bought via the blockchain, which verifies authenticity and ownership by encrypting the creator’s signature on the blockchain, a digital ledger used in cryptocurrencies such as bitcoin.
The tweet is sold on a platform called Valuables. The new digital outfit is built on blockchain stores Ethereum and Matic Network, enabling users to record and sell individual tweets.
“Owning any digital content can be a financial investment, holding sentimental value and creating a collector-creator relationship,” Valuable said on the FAQ page. “Like a signature on a baseball card, the NFT itself is the creator’s signature on the content, making it rare, unique and valuable.”
Anyone can offer their public tweets using valuable for sale, and 95% of the money earned goes to the original creator of the tweet, while the rest goes to the company. For secondary sales, 87.5% goes to the seller, 10% goes to the maker and 2.5% goes to valuable.
The money is automatically credited to the seller’s wallet when they agree to sell. It usually takes an hour before the transaction is completed on the Ethereum network.
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Dorsey, a proponent of digital currencies, recently posted #bitcoin in his Twitter bio.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| TWTR | TWITTER, INC. | 63.48 | -3.50 | -5.23% |
| SQ | SQUARE INC KOM | 201.90 | -14.55 | -6.72% |
Square, where Dorsey is CEO, bought 3,318 bitcoins in February, an investment of $ 170 million. The move came after the company bought about 4,709 bitcoins at a total price of $ 50 million in October. In addition, Twitter recently told CNBC that it is considering paying employees in cryptocurrencies if they prefer the form of payment.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| TSLA | TESLA, INC. | 563.00 | -34.95 | -5.84% |
Meanwhile, electric car maker Tesla said in an SEC filing last month that it was investing $ 1.5 billion in bitcoin to “further diversify and maximize” the return on its cash. The company also noted that it expects to accept bitcoin in the “near future” as a means of payment for its cars.
Tesla CEO Elon Musk admitted he was a ‘bitcoin supporter’ when asked on February 1 during a live interview in the popular audio app Club House about his thoughts on cryptocurrencies.
“A lot of friends of mine have been trying for a long time to convince me to get involved with bitcoin,” he said.
Like Dorsey, Musk auctioned off his own tweets about valuables. Estavi recently bid $ 20,000 for an eggplant Musk tweet, while a Lion King mom posted by Musk currently has a $ 3,500 bid.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| MA | MASTERCARD, INC. | 371.33 | +10.45 | + 2.90% |
In addition, BNY Mellon, the oldest bank in the US, recently announced that it will be the first global bank to create a “digital assets” service later in 2021. Credit card company MasterCard has also said it will start supporting certain cryptocurrencies later this year. .
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Interested buyers can still make a counter-offer for Dorsey’s tweet, as long as the bid is a 10% or $ 1 increase, depending on the previous offer. Although all values will be displayed in US dollars, the minimum bid against the offer is calculated according to the current price of Ethereum.