Non-fongible tokens (NFTs) in the cryptocurrency sector are becoming increasingly common and new ways of using them are being found. Artists and producers of content now use NFTs to make sure the work stays original and sufficiently compensated for.
A $2.5 million offer from Dorsey’s first tweet.
The Twitter founding director and CEO Jack Dorsey sent the first ever tweet. The CEO released the tweet a few weeks ago as an NFT, and there were several offers, with yesterday’s auction closing. The NFT top offer was $2.5 million after the auction period ended.
On Marcy 21, 2006, the first Dorsey tweet reads, ‘Set up my twttr,’ It is written. Dorsey’s anno earlier this month
On Marcy 21, 2006, the first Dorsey tweet reads, ‘Set up my twttr,’ It is written. Dorsey stated earlier this month that a tokenized Tweet version was available on the Valuables non-fongible token (NFT).
The tweet was written in December last year, and Dorsey made it available to the interested party as an NFT sparked bidding war. Sina Estavi, CEO of Bridge Oracle based in Malaysia, and Justin Soun, Tron’s founder and Bittorrent’s CEO, were the most thrilling bidding wars.
Proceeds from donation
After bidding $2.5 million for the NFT, Estavi edged Sun away in the fight. His bid was the best and since the 6th of March he made it. The majority was pessimistic about Dorsey’s selling of the NFT. On 9 March, though, he tweeted that the auction would end on 21 March and that he would accept the prize offer.
Dorsey does not plan to keep the money so he donates it to GiveDirectly, a non-profit agency that provides low-income individuals with direct cash transfers. His response to Africa means that funds will go to the Africa Response campaign Covid-19.
Pros & Cons NFT
NFTs facilitate the tokenizing of a broad variety of items for individuals. The artists may assert ownership and receive compensation for their digital works by tinkering with art and other materials.
NFTs mean ownership of tweets, but we must wonder: ‘What if Jack just deletes the tweet after sales?’