Twitter’s CEO Jack Dorsey sold his first tweet ever for almost $3 million
NFTs are so hot right now.
Malaysian businessman, Sina Estavi, has purchased the first-ever tweet posted by Jack Dorsey, Twitter’s founder and CEO. The purchase was made via an online auction using the Ether cryptocurrency. When converted to US dollars, the value of the transaction is precisely $2,915,835.47 (at the time of this writing).
However, Dorsey said that he doesn’t plan to convert the funds into dollars but to Bitcoin. Then, he plans to award the proceedings to people affected by COVID-19 in Africa.
How do you sell a tweet?
The tweet was sold as a non-fungible token (NFT), a digital certificate uniquely connected to the tweet. The tweet as such is still available on Twitter, and anybody can still share or see it.
Nevertheless, the token (NFT) attached to it belongs to Sina Estavi. Basically, every NFT is a public ledger, and anyone can verify both the ownership and the authenticity of the asset. Mr. Estavi will receive a verified and digitally signed certificate by Jack Dorsey, along with the metadata of the tweet.
READ MORE: Jack Dorsey expresses mild Web3 cynicism, basically calling it a scam
When asked about a comment on the price point, Mr. Estavi compared the transaction with the purchase of a Mona Lisa painting. His exact words were, “I think years later people will realize the true value of this tweet.”
The future of digital artwork
Thanks to NFT technology, a great deal of digital artwork was sold in 2021. Christie’s auction house managed to net $69 million for the digital artwork of an artist known as Beeple. Beeple is the artistic name of Mike Winkelmann that decided to sell all of the digital artwork that he created in his first 13 years of work in one NFT.
Rob Anders, the CEO of a digital art platform called Niio, commented, “This is proof of concept for digital art, which has been dogged by questions of commercial value, authenticity, ownership, and scarcity.”
Have any thoughts on this? Let us know down below in the comments or carry the discussion over to our Twitter or Facebook.
- Bernie Sanders says he doesn’t agree with Twitter banning Trump from its platform
- Twitter is now testing ways for iOS users to watch YouTube videos directly in their timeline
- Facebook removed 1.3 billion fake accounts between October and December
- Jack Dorsey’s Square purchased 3,318 Bitcoins worth $170 million