Thursday, June 20, 2024

They auctioned the first tweet for 2.9 million dollars

Date:

The image of the tweet “Setting up my Twttr account” (“I just set up my twttr”), that the co-founder of the social network Jack dorsey published in March 2006 was for sale on the Valuables platform and was acquired by the entrepreneur Sina Estavi.

The sale was made using a brand new digital format, the “NFT”, acronym for the term non-fungible token in English. This tool enables associate to any virtual object (an image, a photo, an animation, a video or a piece of music) a certificate of authenticity that makes it a unique piece.

Said certificate is theoretically inviolable and cannot be duplicated and was created using a technology called “blockchain”, the same one used by cryptocurrencies such as bitcoin.

The executive of Twitter sold his tweet on cryptocurrency ethereal (also known as ether) for the equivalent of 2.9 million dollars.

Only the author can sell the tweet as an “NFT” after verification, according to Valuables, a company created in December 2020 that has no capital ties to Twitter. After the transaction, Dorsey’s message remains visible to everyone online unless he or Twitter decides otherwise.

Valuables keeps 5% of the profits from the sale and the rest goes to the seller, he explained to the agency AFP a spokesperson for the platform.

Now the brand-new buyer seems to be looking for an expansion of his collection, because he offered 1.1 million for a tweet from Tesla boss Elon Musk, who later said he would withdraw his tweet from the sale. This Monday, however, it could still be seen on the Valuables platform.

Ebenezer Robbins
Ebenezer Robbins
Introvert. Beer guru. Communicator. Travel fanatic. Web advocate. Certified alcohol geek. Tv buff. Subtly charming internet aficionado.

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