Twitter CEO Jack Dorsey’s first post on Twitter- “just setting up my twttr” is up for sale. Dorsey has listed this famous post on a website ‘Valuables by Cent’ where tweets are sold. This is being sold as an NFT (Non-fungible tokens) due to its unique digital signature and signed by tweet sender in cryptography. The post was sent from Dorsey’s account in March 2006. Old offers for the post suggest that it was put for sale around December, but it gained more attention after Dorsey’s tweet on March 5.
After the announcement of the sale by linking it to a tweet, after about an hour and half the highest bid was $110,000. Currently, Bridge Oracle CEO Sina Estavi made the highest bid of $2.5 million. Launches three months ago, Valuables compared buying of tweets with buying autographed baseball card. “There is a unique signed version of the tweet, and if the creator agrees to sell, you can own it forever.”
An NFT is a cryptographic token that’s enjoying popularity with artists and musicians. The digital assets are stored on the block chain. A tweet’s buyer will get a digital certificate, signed using cryptography, that will include metadata of the original tweet. The tweet will continue to be available on the Twitter website.
Valuables is an initiative by Cent that allows users to mint, buy and sell their tweets in the form of an NFT. Additionally, the NFT can only be minted once but can be sold and resold several times. And, once the sale has been made, the seller gets 95% of the sale’s proceeds. The remaining 5% is charged as fees by the platform.
This NFT has become a craze that doesn’t show signs of slowing down. Last week a group has burned Banksy’s original artwork and announced to create an NFT version of it. A portion of the sale of this NFT will go to the charity. Recently, Enjin and Metaverseme merged NFT with augmented reality with the goal of enhancing the gaming experience of users.