Twitter CEO Jack Dorsey’s first tweet is well known on the platform. Posted almost 15 years ago, the tweet read, “just fixing my twttr.” While there is no question that it is significant in popular culture, apparently Dorsey also seems to believe that it has monetary value. And it seems that he is right.
Dorsey posted a Link to the auction, hosted by a platform called Valuables, on Twitter on Friday without a comment or explanation. Some of you may be wondering, how can you sell a tweet? Dorsey is selling a “non-fungible token” from his tweet, known as NFT. Things that are not expendable are unique and cannot be exchanged for something of equal value. Tokens They represent an asset on your blockchain, or the mechanism by which cryptocurrencies, such as Bitcoin and Ether, are bought and sold.
Now what exactly does the person who wins the auction get from Dorsey’s tweet? According to Values, you get a “digital certificate of the tweet, unique because it has been signed and verified by the creator”. Despite the sale, the tweet will still live on Twitter.
“This autographed digital certificate will only be issued once in Valuables. It is cryptographically signed and includes metadata from the original tweet such as: when the tweet was posted, what is the content of the tweet text, the timestamp of the tweet, and the digital signature of the creator’s crypto wallet address, ”Valuables stated. . .
While that may not seem like a big buy, or even one worth the millions of people who are making, buying NFT is one thing right now. Grimes sold NFT of his artwork, which included videos, for around $ 6 million earlier this month. In February, an NFT from Nyan Cat GIF sold for approximately 300 Ether. The cryptocurrency was worth approximately $ 587,000 at the time of sale.
What NPR He noted, although some may think that you are just buying something similar to a barcode, it can also be seen as a certificate of authenticity for a version of the artwork that is registered on a blockchain like yours.
“What you are buying is a code that manifests itself as images,” Donna Redel of Fordham Law School told the outlet. “You are buying a different art format.”
However, buying an NFT generally does not mean that you get the copyright or trademark of the original. Artists can sell multiple NFTs of their work. Case in point: Grimes made available thousands of copies of two NFTs that he put up for auction. For the edgeAbout 700 copies of the NFTs, consisting of short videos, sold for $ 5.18 million.
At the time of this blog posting, the highest bid for Dorsey’s tweet is $ 2.5 million. The person who offered this staggering amount for Dorsey’s tweet is Hakan Estavi, CEO of Oracle Bridge, a Malaysia-based company that uses Oracle systems to enable smart contracts on the TRON network.
However, on Twitter on Saturday, Estavi said that he would actually be willing to fork out a lot more for the tweet. Is willing to go up to $ 10 million.
Gizmodo took to Twitter to ask why Dorsey was selling the tweet and what he planned to do with the money generated from the sale. A Twitter spokesperson said the company had no comment.
You know what they say: art gets its value from what you are willing to pay for it. I guess that means tweets are art now.