The tweet is in the kind of a non-fungible token (NFT) – a sort of exclusive digital asset that has exploded in reputation so far in 2021.
Each NFT has its personal blockchain-based digital signature, which serves as a public ledger, permitting everyone to confirm the asset’s authenticity and ownership.
The tweet – “just setting up my twtter” – was Dorsey’s very first tweet, produced on March 21, 2006. https://twitter.com/jack/status/20
The NFT was sold through auction on a platform known as Valuables, which is owned by the U.S.-based firm Cent.
Also Read: Reporters Without Borders Sues Facebook In France Over Hate Speech
It was purchased applying the cryptocurrency Ether, for 1630.5825601 ETH, which was worth $2,915,835.47 at the time of sale, Cameron Hejazi, the CEO and co-founder of Cent confirmed.
Cent confirmed the purchaser is Sina Estavi. Estavi’s Twitter profile, @sinaEstavi, says he is based in Malaysia and is CEO of the blockchain firm Bridge Oracle. Estavi told Reuters he was “thankful” when asked for comment about the acquire.
On March 6, Dorsey, who is a bitcoin enthusiast, tweeted a hyperlink to the web page exactly where the NFT was listed for sale. He then stated in yet another tweet on March 9 that he would convert the proceeds from the auction into bitcoin and donate them to men and women impacted by COVID-19 in Africa.
Also Read: Absolutely Shameful Parliament Sex Acts Shake Australia’s Government
Dorsey receives 95% of the proceeds of the key sale, though Cent receives 5%.
Cent CEO Cameron Hejazi stated that his platform makes it possible for men and women to show assistance for a tweet that goes beyond the present choices to like, comment and retweet.
“These assets might go up in value, they might go down in value, but what will stay is the ledger and the history of ‘I purchased this from you at this moment in time’ and that’s going to be in both the buyer, the seller and the public spectators’ memory,” Hejazi stated, adding that this was “inherently valuable.”