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Twitter CEO and co-founder Jack Dorsey gestures while interacting with students at the Indian Institute of Technology (IIT) in New Delhi on November 12, 2018.
Prakash Singh | AFP | Getty Images
Jack Dorsey appears to be offering to sell the very first tweet as a non-fungible token, or NFT.
The CEO of Twitter share a link Friday afternoon on a platform called “Valuables”, where his tweet of March 21, 2006 “just setting up my twttr” was up for auction. The highest bid comes from Sina Estavi, CEO of Bridge Oracle, for $ 2.5 million on Saturday afternoon, according to the website.
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 cannot trade one NFT for another as they would with dollars or other assets. Each NFT is unique and acts as a collector’s item that cannot be duplicated, making them rare by design.
Crypto collectibles have exploded in popularity lately with anyone from artists to rock bands creating their content. A digital rendition of the 2011 Nyan Cat meme, for example, sold for nearly $ 600,000 at an online auction last month.
Some people who buy NFTs think it can help them prove ownership of a virtual object through blockchain.
Dorsey has also been a supporter of digital currencies, posting “#bitcoin” in her Twitter bio, so getting into NFT seems like a natural extension. Its digital payment company Square also bought around 3,318 bitcoin in late February, expanding its October 2020 purchase to 4,709.
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