Twitter CEO Jack Dorsey turned the first tweet into an NFT and sold it for $2.9M
One of the most expensive NFTs today is Jack Dorsey's very first tweet, which was bought in an auction.
Non-fungible tokens - better known as NFTs, have seen quite the rise in popularity. These digital assets have allowed people to purchase videos and images, verified by the blockchain. A lot of fascinating content has been sold off as an NFT, including a video of NBA superstar LeBron James dunking a basketball. One of the more interesting NFTs was the first ever tweet, which Twitter CEO posted for auction. The auction has closed, and the CEO’s first tweet has sold for $2.9 million.
Twitter CEO Jack Dorsey announced back on March 5 that he would be making the first ever tweet into an NFT and auctioning it off, with the proceeds going to the GiveDirectly charity. The auction officially closed on March 21, and was sold for a whopping $21 million. He then went on to show a screenshot of the Bitcoin withdrawal that he’s using to donate.
— jack (@jack) March 6, 2021
The bid was won by Bridge Oracle Sina Estavi, though entrepreneur Justin Sun had also been auctioning for the NFT. Originally posted on March 21, 2006, Jack Dorsey’s “just setting up my twttr” post is the first ever tweet shared to the social media platform. With the massive ongoing popularity and significance of Twitter, the tweet that started it all holds a special significance.
Jack Dorsey’s original tweet is one of the most expensive NFTs sold to date. If you’re a bit confused on how all of this works, we put together a guide on exactly what a non-fungible token is. For more on NFTs, stick with us right here on Shacknews.
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replyDonovan Erskine posted a new article, Twitter CEO Jack Dorsey turned the first tweet into an NFT and sold it for $2.9M
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You don’t even own the tweet (unless some special rights are conferred with the nft sale, but I can’t imagine there being many rights for a tweet).
If it’s just for an nft, you basically own a certificate saying you “own” the tweet, but you really don’t. It’s kind of like buying a star, except paying millions for it. -
You don't own the tweet. You own something symbolic that the creator of the tweet said is symbolic and a system exists to validate. Thinking of it as a signed print is probably the easiest shortcut: In this example, Jack "signed" (digitally) the tweet and sold the SIGNED tweet for 2.9M. This doesn't mean someone owns the actual tweet. It means they own a piece of paper that has value because enough people agreed that it has value.
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You can do exactly that. But you have to pay to "mint" the NFT and then convince someone to buy it. If you don't, all you've done is toss money in to the system to benefit people that know what they're doing lol
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You can do that in other markets to, but it's unlikely anyone would buy it because they would not see it as having any value. The same is true of NFTs
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You could photograph a signed baseball.. but it would be worthless.
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It has all the hallmarks of a pyramid scheme. OverloadUT posted a great link about it a few days ago: https://twitter.com/thatkimparker/status/1370579822213173248
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just a vehicle for the rich to get richer https://fstoppers.com/opinion/nfts-are-pyramid-scheme-and-people-are-already-losing-money-554869
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