Twitter TWTR,
CEO Jack Dorsey sells his first tweet.
“Just setting up my twttr,” the tweet from March 2006 reads.
Dorsey, who is CEO of both Twitter and Square SQ,
selling the tweet as a non-fungible signal (NFT).
NFT is a proven digital asset that runs on blockchain technology. NFTs cannot be exchanged as currencies – they are unique and cannot be reproduced. Traditional currencies are fungible, meaning they are transferable and can be divided into smaller fractions.
NFTs use blockchain, the technology ledger used with cryptocurrencies such as BTCUSD bitcoin,
and ethereum ETHUSD,
which are the databases of linked information to register property or product transactions. While NFTs use blockchain, they are not currencies and should be treated as rare trading cards instead of cash.
According to Valiable By Cent, a recently launched tweet market, the winner of the auction for Dorsey’s tweet will receive “a digital certificate of the tweet, unique in that it was signed and certified by the creator.”
The winner of the auction will receive metadata of the original tweet including “when the tweet was posted, what the text of the tweet is, the timestamp of the tweet, and the digital signature from the crypto wallet address the creator. “
The listing, which has been up since December, has the current highest bid of $ 2.5 million. Dorsey tweeted a link to the listing on Friday.
Non-fungible tokens have exploded in popularity in recent months, people have spent hundreds of millions of dollars on digital assets like NBA Top Shot and other digital arts.