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Twitter CEO Jack Dorsey is auctioning off an important piece of the history of the social media platform.
Dorsey shared a link to the digital auction platform Valuable on Saturday, which shows her very first tweet being offered to the highest bidder, a tweet from March 21, 2006 in which Dorsey wrote “just setting up my twttr “.
On Monday, the highest bid is $ 2.5 million worth of Sina Estavi, CEO of Oracle Bridge.
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The tweet is sold as a non-fungible token, or NTF. An NTF is a unique digital token that can transform any element of the digital world, from tweets to Gifs to videos into a collectible asset. Like Bitcoin and other cryptocurrencies, NFTs are sold and bought through the blockchain, which verifies authenticity and ownership by encrypting the creator’s signature on the blockchain, a digital ledger used in cryptocurrencies such as the bitcoin.
The tweet is sold on a platform called Valuables. The new digital outfit is built on blockchain Ethereum and Matic Network outlets, which allow users to tokenize and sell individual tweets.
“Owning any digital content can be a financial investment, have sentimental value and create a relationship between collector and creator,” Valuable said on its Frequently Asked Questions page. “Like an autograph on a baseball card, the NFT itself is the creator’s autograph on the content, which makes it rare, unique and valuable.”
Anyone can put their public tweets up for sale using Valuables, and 95% of the money earned will go to the original creator of the tweet, with the rest going to the company. For secondary sales, 87.5% goes to seller, 10% goes to creator, and 2.5% goes to Valuable.
The money is automatically credited to the seller’s crypto wallet when he agrees to sell. The transaction usually takes an hour on the Ethereum network.
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Dorsey, a supporter of digital currencies, recently put #bitcoin in her Twitter bio.
| Teleprinter | security | Latest | Change | Change% |
|---|---|---|---|---|
| TWTR | TWITTER, INC. | 63.48 | -3.50 | -5.23% |
| SQ | SQUARE INC COM | 201.90 | -14.55 | -6.72% |
Square, where Dorsey is CEO, bought 3,318 bitcoin in February, an investment of $ 170 million. The move came after the company bought around 4,709 bitcoin at an aggregate price of $ 50 million in October. Additionally, Twitter recently told CNBC that it is considering paying employees in cryptocurrency if they prefer this payment method.
| Teleprinter | security | Latest | Change | Change% |
|---|---|---|---|---|
| TSLA | TESLA, INC. | 563.00 | -34.95 | -5.84% |
Meanwhile, electric automaker Tesla said in an SEC filing last month that it was investing $ 1.5 billion in bitcoin to “further diversify and maximize” the return on its cash. The company also said it plans to start accepting bitcoin as a payment method for its cars in the “near future.”
Tesla CEO Elon Musk admitted to being a ‘bitcoin supporter’ when asked what he thinks about cryptocurrencies in a live interview on popular audio chat app Club House on February 1.
“A lot of friends of mine have been trying to convince me to get involved in bitcoin for a long time,” he said.
Like Dorsey, Musk auctioned off his own tweets on Valuable. Estavi recently offered $ 20,000 on a tweet from Musk of an eggplant, while a Lion King meme posted by Musk currently has a bid of $ 3,500.
| Teleprinter | security | Latest | Change | Change% |
|---|---|---|---|---|
| MY | MASTERCARD, INC. | 371.33 | +10.45 | + 2.90% |
In addition, BNY Mellon, the oldest bank in the United States, recently announced that it will be the first global bank to create a “digital asset” service later in 2021. The credit card company MasterCard also said it would start supporting some cryptocurrencies later this year. .
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Interested buyers can still counter-offer Dorsey’s tweet as long as the offer is a 10% or $ 1 increase over the previous offer, whichever is greater. Although all values are displayed in US dollars, the counter-offer minimums will be calculated using the current price of Ethereum.
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