Twitter CEO and co-founder Jack Dorsey gestures in interaction with students at the Indian Institute of Technology (IIT) in New Delhi on November 12, 2018.
Prakash Singh | AFP | Getty Images
Jack Dorsey seems to be offering the sale of the first tweet as an irreplaceable token or NFT.
The Twitter Executive Director shared a link On Friday afternoon on the platform called “Jewels”, on which his tweet from March 21, 2006 was offered for bidding “Just set me twttr”. The highest bid is from Son of Estavi, CEO of Bridge Oracle, for $ 2.5 million as of Saturday afternoon, according to the website.
Ownership of these assets is recorded on a blockchain – a digital book similar to the networks they support bitcoin and other cryptocurrencies. However, unlike most currencies, a person cannot exchange one NFT for another as he would do 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.
Crypto collectibles have recently exploded in popularity with everyone, from artists to rock bands forging their contents. The 2011 digital version of the Nyan Cat meme, for example, sold for nearly $ 600,000 at an online auction last month.
Some people who buy NFTs believe that it can help them prove ownership of a virtual item thanks to the blockchain.
Dorsey has also been a proponent of digital currencies, featuring “#bitcoin” in his biography on Twitter, so jumping into NFT seems like a natural extension. His digital payment company Square also roughly purchased 3,318 bitcoins at the end of February, expanding to a purchase of 4,709 in October 2020.