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 auction ended on the “Valuables” platform, which is managed by Cent, a network blockchain-based social media. .
The tweet, which says, “just set up my twttr,” was posted for the first time by Dorsey on March 21, 2006.
NFTs are digital assets, including jpegs and videos, that can be bought and sold, just like physical assets. And since it runs on the blockchain, a decentralized digital register that documents everyone’s transactions, ownership and validity can be tracked.
Although there was a bidding war over the NFT of Dorsey’s tweet between tech entrepreneur Justin Sun and Bridge Oracle CEO Sina Estavi, in the end, Estavi’s bid of over $ 2.9 million won, says the site. Estavi also bid $ 1.1 million to own the NFT of a recent tweet from Elon Musk, CEO of SpaceX and Tesla, which was also listed on “Valuables.”
“[B]giving Jack Dorsey’s first tweet of history and Elon Musk’s NFT, I wanted to emphasize the importance of NFTs on [the] the future of cryptography and technology, “Estavi told CNBC Make It recently. In addition,” I wanted to encourage involvement in charities in the crypto space. “
According to “Valuables”, the tweet itself “will continue to live on Twitter”, but the winning bidder would have NFT, “signed and verified by the creator”, as a virtual autograph. “Valuables” also requires users to connect to the platform through their Twitter account to verify that the tweets listed for sale are made by their true creators.
In March, Dorsey said all proceeds from his sale of NFT would be converted to bitcoin and donated to GiveDirectly, an organization that helps those living in poverty in Africa.
“Sent to the @GiveDirectly Africa fund”, Dorsey posted to Twitter on Monday. “Thank you, @sinaEstavi.”
Dorsey has long been a supporter of the cryptocurrency space – in February, his financial services company Square bought an additional $ 170 million worth of bitcoin, and Dorsey has consistently advocated for bitcoin.
Today, Dorsey is worth $ 13 billion, according to Forbes.
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