Jack Dorsey sells the first-ever tweet as NFT. In recent days, a new trend has attracted attention on Twitter. The sale of cryptocurrencies and tweets that, thanks to blockchain technology and especially non-fungible tokens (NFT) are being sold through the social network. And even more curious is that Jack Dorsey, the creator of the social network, is selling a tweet of his and the bidding has reached $2.5 million (and it’s not over yet).
Dorsey asked his followers this weekend, “do you want to buy this tweet?” and put up for sale his first message published through Twitter in 2006 (where he said “Just setting up my twttr”), in the form of a non-fungible token (NFT). This gave way to a million-dollar auction through the Valuables website, launched three months ago to sell tweets using these NFT mechanisms.
Looking at the auction it seems that the CEO had already opened this bid a few months ago, but the fact that Dorsey decided to tweet this information on his profile on Saturday, attracted all the attention of users. So much so that it came to the offer of two million dollars by Justin Sun, the CEO of Tron. As of today, Monday, March 8, the figure has risen to 2.5 million.
— jack (@jack) March 6, 2021
Even if it is sold, the publication will remain on the social network although it will be owned by whoever bids the highest in the auction. In 2020, just over 400 tweets were sold through that platform, and $75,000 was offered in total at those auctions.
It is also being used to sell art
Just yesterday, our colleague Toni Castillo shared on his Twitter profile how a Jack Butcher NFT, an animated Michelangelo phrase, started out being offered for 1,618 ETH on @withFND and has ended up selling for 33,888, just over $57,000 at the time of purchase, after an auction that took place over the past weekend.
What is NFT?
NFTs were initially created on the Ethereum (ETH) blockchain, now, however, they are available on many other blockchains, such as EOS, TRON, and NEO, and have many use cases. NFTs can represent digital collectibles, artwork, or in-game assets.
No two NFTs are alike. They are unique digital assets. Unlike the vast majority of cryptocurrencies out there, they are not designed to trade like money. An NFT can be thought of as a collectible token associated with some particular item.
For example, a fungible method is one dollar. You can exchange this dollar for a different dollar but you will keep the same value. A non-fungible token is a unique collectible and if you exchange it for another NFT you will get something different than what you have. A non-fungible good is something with a different and unique value. You can exchange it for another NFT but you will never get the same thing.