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Twitter CEO Jack Dorsey testifies remotely via videoconference in this screenshot taken from video at a Senate Judiciary Committee hearing titled “Breaking the News: Censorship, Suppression, and the 2020 Election “, on the content moderation practices of Facebook and Twitter, on Capitol Hill in Washington, United States, November 17, 2020.
Reuters
Jack Dorsey, who sells his very first tweet as a non-fungible token, said on Tuesday he would donate the profits to charity.
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. Tuesday morning, the highest bid is that of Sina Estavi, CEO of Bridge Oracle, for $ 2.5 million, according to the site.
The auction will end on March 21, Dorsey said. He will then immediately convert the proceeds into bitcoin and donate it to Give Directly’s Africa Response fund.
The tweet’s NFT auction comes amid a surge in the popularity of crypto collectibles. Ownership of these assets is recorded on a blockchain – a digital ledger similar to the networks that underpin bitcoin and other cryptocurrencies. But a person cannot trade one NFT for another like 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.
Dorsey has also been a strong supporter of bitcoin. Last month, he announced his partnership with music mogul Jay-Z to create an endowment fund to finance the development of the digital play, initially in Africa and India. 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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