People with a lot of time and money on their hands offered $ 2.5 million to “buy” the first founder of Jack Dorsey, Twitter founder, on the platform.
The winner of the auction gets a digital certificate that enables them to claim the 2006 tweet, in which Dorsey wrote “just setting up my twttr.”
The battle to buy the tweet is part of the latest digital craze, known as ‘non-fungible tokens’, or NFTs.
An NFT is created using blockchain technology, the same technology behind digital currencies like Bitcoin. The ‘non-fungible’ part means that it is unique and cannot be replaced.
Dorsey’s tweet will remain where it is on Twitter, even after it was “bought” in the auction.
The collection of tweets, videos and digital art became hugely popular during the pandemic for those who sink deep. A ten-second video by digital artist Beeple sold for $ 6.6 million last week, which brought new attention to the trend.
Owners can display their NFTs in an online gallery.
Dorsey tweeted a link Friday to the online auction being held on the Valuables website. Before he shared the link, the bid price was less than $ 1 million. By Saturday afternoon, the price had risen to $ 2.5 million.
According to Forbes, Dorbes (44) is worth $ 12.5 billion. There was no sign that the auction was for charity.
In the FAQ section, the valuable site explains that a purchased tweet still remains on the social media site, but the buyer gets a digital certificate from the tweet that is ‘unique because it was signed and verified by the maker.’
NFT enthusiasts hope that items they buy will increase in value, but it is not yet clear if there will be a lasting market for the digital collectibles.