Twitter CEO Jack Dorsey testifies remotely by videoconference in this screengrab made from the video during a Senate Judiciary Committee hearing entitled “Breaking the News: Censorship, Suppression, and the 2020 Elections,” on Facebook and practices Twitter content moderator on Capitol Hill in Washington, USA, November 17, 2020.
Reuters
Jack Dorsey, who sells his first tweet ever as a non-fungible token, said on Tuesday he would donate the profits to charities.
Twitter CEO shared a link On Friday afternoon, on a platform called “Valuables”, where his March 21, 2006 tweet “Just setting up my twttr” was ready for auction. As of Tuesday morning, the largest offer is from Sina Estavi, CEO of Bridge Oracle, for $ 2.5 million, according to the website.
The auction will end on March 21, Dorsey said. It will then immediately convert the proceeds into bitcoin and donate this to the Direct Africa Response Fund in Africa.
The NFT auction of the tweet comes against the background of the growing popularity of collectible cryptocurrencies. The ownership of these assets is recorded on a blockchain – a digital register similar to the networks that underlie bitcoin and other cryptocurrencies. But the person cannot exchange one NFT with another as he would with dollars or other assets. Each NFT is unique and acts as a collector’s item that cannot be duplicated, making them rare in design.
Dorsey was also a vocal supporter of bitcoin. Last month, he announced that he is partnering with music mogul Jay-Z to set up an endowment fund to fund the development of digital currency, initially in Africa and India. Its digital payment company Square also acquired about 3,318 bitcoins at the end of February, expanding to the purchase of 4,709 in October 2020.
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