Jack Dorsey, CEO of Twitter and Square, sold his first tweet on Monday as an NFT, or intangible token, for more than $ 2.9 million when the bidding ended on the ‘Valuables’ platform, which is operated by Cent, a blockchain-powered social media network. .
The tweet, which says, “I just set up my twttr,” was first posted by Dorsey on March 21, 2006.
NFTs are digital assets, including JPEGs and video clips, that can be bought and sold just like physical assets. And because they run on blockchain, a decentralized digital ledger can be tracked that documents transactions, ownership, and validity of each.
While there was a bidding war over Dorsey’s NFT tweet between tech entrepreneur Justin Sun and Bridge Oracle CEO Sina Estavi, Estavi’s bid of more than $ 2.9 million ultimately won, the site said. Estavi also offered $ 1.1 million to take ownership of the NFT of a recent tweet from SpaceX and Tesla CEO Elon Musk, which was also featured on “Valuables.”
[B]y bidding on Jack Dorsey’s first tweet in history and Elon Musk’s NFT, I wanted to emphasize the importance of NFTs on [the] future of the crypto and tech sphere, “Estavi recently told CNBC Make It. Additionally,” I wanted to encourage involvement with charities in the crypto space. “
According to “Valuables,” the tweet itself will “stay live on Twitter,” but the winning bidder would own the NFT, “signed and verified by the creator,” as a virtual signature. “Valuables” also requires users to log into the platform through their Twitter account to verify that tweets for sale are made by their real creators.
In March, Dorsey said all proceeds from his NFT sales would be converted to bitcoin and donated to GiveDirectly, an organization that helps people living in poverty in Africa.
Sent to @GiveDirectly Africa Fund, Dorsey tweeted on Monday“Thanks @sinaEstavi.”
Dorsey has long been a supporter of the crypto space – in February, his financial services company Square bought an additional $ 170 million worth of bitcoin, and Dorsey has consistently been a proponent of bitcoin.
Dorsey is currently worth $ 13 billion, according to Forbes.
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