Jack Dorsey sells first tweet as NFT for US$2.9 million
The first short message in Twitter history has found a new owner for 2.9 million US dollars. Jack Dorsey is donating the proceeds from the NFT auction to charity.
There is no way around NFT at the moment. Since works by artists like Beepl have fetched millions, non-fungible tokens have become the latest craze among investors. Twitter and Square CEO Jack Dorsey has also been keen to ride the wave. Since the end of 2020, investors have been able to bid on the first tweet in Twitter history in NFT form. Yesterday, the auction of Bitcoin Profit on Valuables ended. The NFT went over the table for a little more than the initial bid of one US dollar.
Showdown at NFT auction
When Jack Dorsey sent out the first Twitter message 15 years ago, no one would have thought that big money could be made out of it (apart from the platform itself, which was to make Dorsey and his cronies billions). Cryptocurrencies were at most the dark premonition of a few computer nerds, and Satoshi Nakamoto was supposed to take another two years to write the Bitcoin white paper. In the meantime, the tweet has gained cult status and has now found a new owner in NFT form.
After a hesitant start, the auction on the Valuables trading platform entered the hot phase at the beginning of March. Within a very short time, the bids had already shot up into the hundreds of thousands. In the end, it was a neck-and-neck race between Tron founder Justin Sun and Bridge Oracle CEO Sina Estavi, who won the duel of the super-rich with a final offer of 2.9 million US dollars. Dorsey will donate the proceeds to the charity project „GiveDirectly“.
What exactly did Estavi buy?
With the NFT, Estavi receives the ownership rights to Dorsey’s first tweet. The tweet itself remains on Twitter. According to Valuables, Estavi thus receives a „digital certificate of the tweet that is unique because it has been signed and verified by the creator“. This certificate is only issued once on Valuables and is cryptographically signed. As a result, it contains the metadata of the original tweet, such as the date, text content and a digital signature of Dorsey’s wallet address. According to Valuables, the NFT is comparable to „an autograph on a baseball card“.
Expensive fun. The further benefit basically extends to two alternatives: sell on or keep. Whether Estavi acquired the tweet for prestige reasons or as an investment remains its secret. But where else but on Twitter does Estavi give an assessment:
‚This is not just a tweet! I think years later people will realise the true value of this tweet, like the painting of the Mona Lisa.
The comparison to the world’s most famous painting may seem a bit of an exaggeration. But there is no question that the first Twitter short message has a special value for internet culture.