After making bids like $2.5 million, he upped the amount to such an abstract figure at the last moment.
Jack Dorsey's first twwet ever made sold to Sina Estavi
Twitter CEO Jack Dorsey’s first tweet has been sold for $2,915,835.47 as an NFT. The first tweet ever, “Just setting up my twttr” was put up for sale two weeks ago on ‘Valuables by Cent and after attracting big bids was sold to the highest bidder Sina Etavi for a whopping amount on March 21st, the tweet’s 15th anniversary.
After making bids like $2.5 million, he upped the amount to such an abstract figure at the last moment. Estavi compared the purchase to buying a Mona Lisa painting and hopes someday people will understand its true value.
Estavi, CEO of blockchain company Bridge Oracle paid for the tweet using Ether Cryptocurrency amounting to 1630.5825601 ETH, reported Reuters. Dorsey on the other hand converted the entire amount earned into bitcoin and donated it to GiveDirectly for its Africa Response programme. GiveDirectly is a charitable organisation that aids poverty-stricken people
Estavi now will be the sole owner of the tweet and can resell or redistribute it. NFTs are Non-Fungible Tokens using which the owner can ascertain their right on another’s creation on online media. It is like autographing a possession digitally before giving it to another person. NFTs have become hugely popular this year. Expensive digital artwork is also being sold this way.
As the buyer, Estavi will receive a certificate, digitally signed and verified by Dorsey, as well as the metadata of the original tweet. The data will include information such as the time the tweet was posted and its text contents.
While Dorsey will receive 95 per cent of the earnings from the sale, Cent that hosts the sale will get 5 percent of the proceeds. This rare digital memorabilia signed and verified by the creator will continue to be on Twitter though and bears more of a sentimental value.