Twitter Co-Founder and CEO Jack Dorsey is selling his first ever tweet.
Dorsey, also Founder of Square, has put the tweet for sale as a Non Fungible Token (NFT).
NFTs are unique collectible tokens that are permanently tied to, for instance, digital artworks and music. They cannot be separated; the token is the art.
They use blockchain, the same distributed database technology underlying Bitcoin and other cryptocurrencies, to create unique certificates of ownership.
Dorsey shared a tweet on Friday with a link to a digital platform called Valuables By Cent that allows for the buying and selling of tweets autographed by their creators. The highest bid to date is US$2.5 million by Sina Estavi, CEO of Bridge Oracle, according to Valuable By Cent’s website.
just setting up my twttr
— jack (@jack) March 21, 2006
Dorsey appears to have put the tweet for sale in December last year yet it only gathered attention when he tweeted a link to it on Friday. It has subsequently been shared thousands of times and the bids started coming in thick and fast.
According to Valuables by Cent’s terms, 95 per cent of a tweet’s sale will go to the original creator with the remainder going to the website.
In a post on the site, the platform’s founders compare the buying of a tweet to that of a more traditional autograph or piece of memorabilia.
“Owning any digital content can be a financial investment,” it says. “[It can] hold sentimental value. Like an autograph on a baseball card, the NFT itself is the creator’s autograph on the content, making it scarce, unique and valuable.”
US rock band Kings of Leon announced that they would offer their new album, When You See Yourself, as an NFT. It is being offered on YellowHeart, an NFT platform, in a package that will give you a vinyl and digital download for US$50 on Friday. The offer has been extended to Monday, 8pm EST.