Jack Dorsey, CEO of Twitter and Square, sold his first tweet as an NFT, or non-fungible token, for more than $ 2.9 million on Monday, when the bidding ended on the “Valuables” platform, which is managed by Cent, a blockchain-powered social media network.
The tweet, which says “just configuring my twttr”, was first posted by Dorsey on March 21, 2006.
NFTs are digital assets, including jpegs and video clips, that can be bought and sold, as well as physical assets. And, as they run on blockchain, a decentralized digital ledger that documents each one’s transactions, ownership and validity can be traced.
Although there was a bidding war over Dorsey’s tweet between businessman Justin Sun and Bridge Oracle CEO Sina Estavi, ultimately, Estavi’s offer of more than $ 2.9 million won, says the site. Estavi also offered $ 1.1 million to own the NFT from a recent tweet from Elon Musk, CEO of SpaceX and Tesla, which was also listed under “Valuables”.
“[B]When bidding on the first tweet in Jack Dorsey’s story and Elon Musk’s NFT, I wanted to emphasize the importance of NFTs in [the] future of cryptography and the technological sphere, “Estavi recently told CNBC Make It. In addition,” I wanted to encourage involvement in charities in the crypto space. “
According to “Valuables”, the tweet itself “will continue to live on Twitter”, but the winning bidder will be the owner of the NFT, “signed and verified by the creator”, as a virtual autograph. “Valuable” also requires users to log on to the platform through their Twitter account to verify that the tweets listed for sale are made by their real creators.
In March, Dorsey said that all proceeds from his NFT sale would be converted into bitcoin and donated to GiveDirectly, an organization that helps those living in poverty in Africa.
“Sent to @GiveDirectly Africa Fund”, Dorsey tweeted on Monday. “Thank you, @sinaEstavi.”
Dorsey has long supported the cryptographic space – in February, his financial services company Square bought an additional $ 170 million worth of bitcoin, and Dorsey has consistently been a supporter of bitcoin.
Today, Dorsey is worth $ 13 billion, according to Forbes.
Output check: Use this calculator to see exactly how much your third coronavirus stimulus check could be worth
Don’t miss out: