Jack Dorsey presents to promote the primary tweet as an NFT
Twitter CEO and co-founder Jack Dorsey gestures while interacting with students at the Indian Institute of Technology (IIT) in New Delhi on November 12, 2018.
Prakash Singh | AFP | Getty Images
Jack Dorsey appears to be offering to sell the very first tweet as a non-fungible token or NFT.
The Twitter CEO shared a link to a platform called “Valuables” on Friday afternoon, where his March 21, 2006 tweet “Just set up my Twttr” was offered for bidding. According to the website, the highest offer comes from Sina Estavi, CEO of Bridge Oracle, for 2.5 million US dollars from Saturday afternoon.
Ownership of these assets is recorded on a blockchain – a digital ledger similar to the networks on which Bitcoin and other cryptocurrencies are based. However, unlike most currencies, unlike dollars or other assets, a person cannot exchange one NFT for another. Each NFT is unique and acts as a collector’s item that cannot be duplicated, which is inherently rare.
Crypto collectibles have grown in popularity lately, from artists to rock bands shaping their content. For example, a digital rendition of the 2011 Nyan Cat meme sold for nearly $ 600,000 in an online auction last month.
Some people who buy NFTs believe that this can help them prove ownership of a virtual item thanks to blockchain.
Dorsey was also a digital currency advocate and featured “#bitcoin” on his Twitter bio. So jumping into NFTs seems like a natural extension. His digital payment company Square also bought around 3,318 bitcoins in late February, increasing its purchase price from 4,709 in October 2020.
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