Twitter CEO Jack Dorsey testifies remotely via video conference in this screengrab made from video during a Senate Judiciary Committee hearing titled “Breaking the News: Censorship, Suppression, and the 2020 Election” on Facebook and Twitter’s content moderation practices, on Capitol Hill in Washington, USA, November 17, 2020.
Reuters
Jack Dorsey, who sells his first-ever tweet as a non-replaceable token, said on Tuesday that he will donate the winnings to charity.
The CEO of Twitter shared a link Friday afternoon to a platform called “Valuables”, where his tweet from March 21, 2006 “just set up my twttr” was ready to bid. According to the website, as of Tuesday morning, the highest bid from Bridge Oracle CEO Sina Estavi is for $ 2.5 million.
The auction ends March 21, Dorsey said. He will then immediately convert the proceeds into bitcoin and donate that to Give Directly’s Africa Response fund.
The tweet’s NFT auction comes amid a surge in the popularity of crypto collectibles. Ownership of these assets is recorded on a blockchain – a digital ledger similar to the networks that support bitcoin and other cryptocurrencies. But people cannot exchange one NFT for another, as they 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 is also an outspoken supporter of bitcoin. Last month, he announced that he is working with music magnate Jay-Z to set up an endowment fund to fund the development of the digital currency, initially in Africa and India. His digital payments company Square also bought about 3,318 bitcoins in late February, an extension of his October 2020 purchase of 4,709.
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