Jack Dorsey, CEO of Twitter and Square, sold his first tweet as an NFT, or non-fungible token, for more than $ 2.9 million on Monday when the bid ended on the “Valuables” platform, which is managed by Cent, a blockchain-powered social media network. .
The tweet, which says, “just setting up my twttr,” was first posted by Dorsey on March 21, 2006.
NFTs are digital assets, including JPEGs and video clips, that can be bought and sold just like physical assets. And since they work on blockchain, a decentralized digital ledger can be found that documents transactions, ownership, and validity of each.
Although there was a bidding war over Dorsey’s NFT tweet between tech entrepreneur Justin Sun and Bridge Oracle CEO Sina Estavi, Estavi’s bid won more than $ 2.9 million, the website said. Estavi also offered $ 1.1 million to own the NFT from a recent tweet by SpaceX and Tesla CEO Elon Musk, which is also listed on ‘Valuables’.
“[B]When I bid on Jack Dorsey’s first tweet of history and the NFT of Elon Musk, I wanted to highlight the importance of NFTs [the] future of crypto and technology sphere, “Estavi recently told CNBC Make It. In addition, I want to encourage getting involved with charities in the crypto space.”
According to “Valuable Articles”, the tweet itself would “continue to live on Twitter”, but the winning bidder would own the NFT, “sign and verify by the creator,” like a virtual signature. ‘Valuable items’ also require users to log in to the platform via their Twitter account to verify that the tweets offered for sale are done by their true creators.
In March, Dorsey said all proceeds from its NFT sale would be converted into bitcoin and donated to GiveDirectly, an organization that helps people in poverty in Africa.
“Sent to @GiveDirectly Africa Fund,” Dorsey tweeted on Monday. “Thank you, @sinaEstavi.”
Dorsey has long been a proponent of cryptocurrency – in February, its financial services firm Square bought an additional $ 170 million in bitcoin, and Dorsey has been a proponent of bitcoin all along.
According to Forbes, Dorsey is worth $ 13 billion today.
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