Twitter CEO and co-founder of movements Jack Dorsey 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 apparently offers to sell the first tweet as a non-fungible, or NFT token.
Head of Twitter connection section Friday afternoon to a platform called “Valuables,” where his tweet on March 21, 2006 “just set my twttr” up for submissions. The highest bid is from Sina Estavi, CEO of Oracle Bridge, for $ 2.5 million from Saturday afternoon, according to the website.
Ownership of these funds is registered on a blockchain – a digital ledger similar to the networks underlying bitcoin and other cryptocurrencies. However, unlike most currencies, one cannot exchange one NFT for another as they would with dollars or other assets. Each NFT is unique and acts as a non-duplicable collection material, making them rare by design.
Crypto collectibles have become very popular recently, with anyone from artists to rock bands swearing their content. A digital installment of the 2011 Nyan Cat meme, for example, sold for nearly $ 600,000 in an online auction last month.
Some people who buy NFTs think that it will help them to prove ownership of something meaningful thanks to blockchain.
Dorsey has also been an advocate for digital currencies, displaying “#bitcoin” in his Twitter bio, so it seems like a jump into NFTs as a natural extension. Its digital payments company Square bought about 3,318 bitcoins at the end of February, expanding on its October 2020 purchase of 4,709.
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