Microblogging and social networking service Twitter’s Chief Executive Officer Mr. Jack Dorsey sold his first non-fungible token (NFT) tweet for just over $2.9 million.
The tweet is in the form of NFT, a kind of unique digital asset that has gained a lot of traction in 2021. Each NFT has its blockchain-based digital signature, which acts as a public ledger that anyone can use to check for the asset’s authenticity and ownership.
Dorsey’s first tweet, “just setting up my twttr,” was made on March 21, 2006. The NFT was auctioned off on a platform called Valuables, which is owned by Cent, a corporation headquartered in the US.
Mr. Cameron Hejazi Chief Executive Officer and Co-founder of Cent confirmed that it was purchased with the cryptocurrency Ether for 1630.5825601 ETH, which was worth around $2.9 million at the time of sale.
According to Cent, Mr. Sina Estavi is the buyer, who is the CEO of the blockchain firm Bridge Oracle. When asked for comment on the purchase, Mr. Estavi told that he was “thankful.”
Mr. Dorsey, a bitcoin enthusiast, tweeted a link to the website where the NFT was for sale on March 6. The Twitter CEO said in another tweet that he would convert the auction proceeds into bitcoin and donate them to people in Africa affected by COVID-19.
Dorsey will get 95 percent of the proceeds from the primary sale, while Cent will get 5 percent.
Mr. Hejazi said that his platform allows people to express their support for a tweet in ways other than liking, commenting, and retweeting.
“These assets might go up in value, they might go down in value, but what will stay in the ledger and the history of ‘I purchased this from you at this moment in time’ and that’s going to be in both the buyer, the seller, and the public spectators’ memory,” adding that this was “inherently valuable,” Cent CEO concluded.