The Twitter CEO, Jack Dorsey, appears to be offering to sell his very first tweet as a special digital asset class known as a non-fungible token or NFT.
He shared a link to a platform called “Valuables,” where his March 21, 2006 tweet “just setting up my twttr” (exactly 15 years ago) was up for bidding even though it exists on Twitter and is free to view. As a long-time cryptocurrency advocate, jumping into the NFT craze is not a surprising move by Dorsey.
The ownership of Jack Dorsey’s first tweet NFT sell
The highest bidder is Sina Estavi, the CEO of Bridge – a blockchain oracle network built on Tron. He offered to pay $2.5 million worth of ETH for Dorsey’s tokenized tweet. Interestingly, Estavi made the $2.5 million bid the very same day when the Twitter CEO launched the auction. No other person had topped that figure for two weeks after that.
However, that was not the only offer. In fact, based on the last few bids, we can see that Estavi competed with Justin Sun, the founder and CEO of Tron – the same blockchain platform that Estavi’s Bridge is built on. The highest bid coming from Sun was $2 million.
As for Estavi, he also offered over $1 million for Elon Musk’s first NFT, which is a techno song clip with the lyrics: “NFT for your vanity. Computers never sleep. It’s verified. It’s guaranteed.” However, Musk eventually turned down the offer last week, saying:
“Actually doesn’t feel quite right selling this. Will pass.”
Difference between cryptocurrencies and cryptocurrencies
Ownership of these assets is recorded on a blockchain — a digital ledger similar to the networks that underpin bitcoin and other cryptocurrencies. However, unlike most currencies, a person can’t 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 can’t be duplicated, making them rare by design.
Crypto collectibles have exploded in popularity lately, with anyone from artists to rock bands minting their content. A digital rendition of the Nyan Cat meme from 2011, for example, sold for nearly $600,000 in an online auction.