Monday, May 16, 2022
HomeNFTJack Dorsey's first tweet sold in NFT form for $3 million

Jack Dorsey’s first tweet sold in NFT form for $3 million

Jack Dorsey has announced that he has sold the NFT of his first tweet, which went on sale a few days ago.

The NFT was purchased by user SinaEstavi at a cost of about 1,630 ETH, which was about $2.9 million at the time of purchase.

Dorsey then stated that he converted the ETH into bitcoin, and then donated it to poor people in Africa through GiveDirectly.

GiveDirectly commented:

“Incredible – huge thanks Jack and SinaEstavi – looking forward to getting this $ into recipients’ hands soon”.

So, as was to be expected, Dorsey’s initiative was for charitable purposes, so much so that the entire sum collected by Twitter’s founder for the sale of this NFT that uniquely represents his first tweet was donated to charity. 

Dorsey is no stranger to such initiatives, and usually, as is his style, donates bitcoin. For this reason, he did not donate the ETH directly, but first converted them into about 50 BTC, and then donated those. 

NFTs lend themselves very easily to similar uses, since on the one hand, they allow for the sale of unique digital collectibles, while on the other, it is common practice to offer collectibles for sale in order to donate the proceeds to charity.

Jack Dorsey’s first tweet becomes a unique NFT

In fact, the NFT created by Dorsey uniquely represents his first tweet, and in the event that the same author does not decide to issue other similar NFTs in the future, this will be the only NFT in the world to represent the first tweet of the founder of Twitter.

In fact, NFTs are technically neither duplicable, nor falsifiable, nor modifiable, but only exchangeable. Moreover, it is possible to publicly verify both their scarcity and the public address of the user who generated them. In other words, in this specific case, for instance, it will always be possible for anyone to publicly verify that the NFT was created by Jack Dorsey, and is the only one of its kind in circulation.

Buy and sell Bitcoin and other cryptocurrencies on Bybit, the most comprehensive cryptocurrency exchange to safely and conveniently invest in the world's most traded cryptocurrencies. Sign up and see how simple it is, go to: https://bybit.com


Follow the latest news about the cryptocurrency market at:

Google News | Facebook | Twitter | Telegram | Reddit 


 

RELATED ARTICLES
- Advertisment -
30,235FansLike
15,154FollowersFollow
156,632SubscribersSubscribe

Most Popular