Each NFT has a digital signature on its own Blockchain and serves as a public directory to allow anyone to check the authenticity and possession of the asset.
Mr. Dorsey’s first tweet, which was made on 21 March 2006, was the tweet “Just setting up my twttr.”
The NFT was auctioned on the Valuables platform belonging to the U.S. company Cent.
Mr. Cameron Hejazi, CEO and co-founder of Cent confirmed that it was purchased using the cryptocurrency Ether for 1630,582,5601 ETH, valued at the time of sale at 2.915,835,47 dollars.
Mr. Sina Estavi has confirmed Cent’s buyer. The Twitter profile Mr. Estavi’s @sinaEstavi claims to be based in Malaysia and CEO of the Bridge Oracle blockchain firm.
When asked to comment on the purchase, Mr Estavi told Reuters, he was “thankful.”
On the 6th of March, Mr. Dorsey, an enthusiast of Bitcoin, tweeted a link to the NFT website. On March 9, he said he would turn the revenues from the auction into bitcoins and donate them to affected people in the poorest continent by covid’19.
Mr. Dorsey will receive 95% of the primary selling revenue, whilst Mr. Cent will receive 5%.
Cent CEO Cameron Hejazi said his platform gives people the ability to show support for a tweet that goes well beyond existing options.
Heyazi said, adding that this was “inherently valuable.” “These assets may be worthy, and they may be valued down, but what will remain is the booklet and history of “I bought them from you in this time” and that will be in the mind of both the buyer, the seller and public spectators.”