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- People are willing to part with over $2.5 million to own a non-fungible token of the first-ever tweet, posted by Jack Dorsey.
- Jack is selling the NFT on Ethereum-based Valuables, with Justin Sun, the founder of TRON among those heavily interested in it.
The first tweet ever posted is up for sale, and people are willing to pay millions of dollars to own it. Jack Dorsey, the founder and CEO of Twitter posted the tweet 15 years ago and is now accepting bids to sell it as a non-fungible token (NFT). The bidding is ongoing, shooting up from a few thousand dollars to now over $2.5 million.
Jack has been one of the most vocal Bitcoin supporters. He firmly believes that BTC is the currency that finally powers the Internet of value. However, he hasn’t been as vocal about Ethereum or the emerging DeFi and NFT fields.
This changed recently when Jack revealed via Twitter that he was auctioning an NFT for ‘the genesis tweet.’
— jack (@jack) March 6, 2021
Jack is auctioning the genesis tweet on Valuables, an Ethereum-based platform. It was created by Cent, a blogging platform, allowing users to send Ethereum via simple chats. The idea behind it was to allow users to earn money from their creativity, art and content. It now allows users to sell NFTs at a time when the sector is rising at a parabolic rate.
On its website, the platform states that once you purchase the NFT, what you get is “a digital certificate of the tweet, unique because it has been signed and verified by the creator.”
Bidding takes off, including by TRON’s Justin Sun
This is the tweet that has generated so much interest.
just setting up my twttr
— jack (@jack) March 21, 2006
The first bid for the tweet was a mere $1. However, since then, the bidding has taken off, attracting interest from the who’s who of the cryptocurrency industry. Justin Sun, the founder of TRON, is among the high-profile people interested in the tweet.
Sun’s first bid was half a million dollars.
— Justin Sun🌞 (@justinsuntron) March 6, 2021
Since then, he has updated his bid twice. The first update was to $700,000, then a million dollars. Having realized others were outbidding him, he doubled his bid to two million dollars.
As it stands, the highest bid is at $2.5 million by Sina Estavi. He is the founder and CEO of Cryptoland, a blockchain startup and Bridge Oracle, a public oracle system on the TRON Network.
Jack’s tweet is just one of the many NFTs that are receiving massive interest across the world. NFTs have digitalized the age-old culture of collectibles, making them available on the blockchain. Billionaire investor Mark Cuban has been one of the biggest fans of NFTs. In a recent interview, he explained:
You get all the benefits of the joy of ownership… all the value creation—or loss, for that matter—the friction-free trading and transacting, the ability to pay royalties to the original creator after every sale, which is enormous, and really enables more creativity to come to the marketplace.
One of the most famous NFT sales in its short history is a 10-second video clip by Miami artist Mike Winkelmann. The clip is of a ‘giant Donald Trump collapsed on the ground covered in slogans amid an idyllic setting.’ It sold recently for $6.6 million, after only going for $67,000 in October last year.
A 10-second video clip sold for $6.6 million: A new type of digital asset known as a non-fungible token (NFT) has exploded in popularity as enthusiasts and investors scramble to spend money on items that only exist online https://t.co/2wrD4iFdkS pic.twitter.com/3St8ERSllo
— Reuters (@Reuters) March 1, 2021