NFT of First Ever Tweet Sells for $2.9 Million, Jack Dorsey Donates Proceeds to Charity

| Peter Wind

Key highlights:

  • An NFT representing the primary ever tweet has bought for $2.9 million
  • Twitter CEO Jack Dorsey transformed the proceeds to BTC and donated them to GiveDirectly
  • The tweet was bought by Sina Estavi, the CEO of Bridge Oracle

NFT of first ever tweet sells for $2.9 million

An public sale for an NFT representing the primary ever tweet concluded with the successful bidder providing a whopping $2.9 million. Jack Dorsey, the CEO of Twitter, made the tweet on March 21, 2006, simply over 15 years in the past. 

The public sale was facilitated by Valuables, a platform created by blockchain firm Cent. On Valuables, customers could make a proposal to “purchase” a tweet – if the unique tweet’s creator agrees to “promote” the tweet, they’ll signal the NFT and earn a portion of the sale’s proceeds. As defined by the Valuables group, shopping for a tweet by the platform is much like shopping for an autographed baseball card. 

Dorsey transformed the proceeds of the public sale to BTC and donated the Bitcoin to GiveDirectly’s  Africa Response fund. GiveDirectly is a charity that straight offers cash to individuals dwelling in poverty.

The tweet was bought by Sina Estavi, CEO of TRON-based challenge Bridge Oracle. On his personal Twitter account, Estavi commented:

“This isn’t only a tweet! I believe years later individuals will understand the true worth of this tweet, just like the Mona Lisa portray.”

Are NFTs a bubble?

NFTs have began making their approach into the mainstream, and this course of was accelerated by the groundbreaking public sale for “The First 5000 Days”, an art work created by digital artist Beeple (Mike Winkelmann). The digital art work was provided at a Christie’s public sale as an NFT, and finally bought for $69.3 million to Vignesh Sundaresan, who’s higher recognized within the crypto neighborhood underneath his pseudonym “MetaKovan”.

The present hype surrounding NFTs has understandably led many individuals to argue that we’re witnessing a bubble. This sentiment was echoed by Beeple himself in an look on Fox Information. He in contrast the present NFT craze with the bubble that fashioned across the web within the expertise’s early days:

“I completely assume it’s a bubble, to be fairly sincere. I am going again to the analogy of the start of the web. There was a bubble, the bubble burst, and it worn out lots of crap. But it surely didn’t wipe out the web. And so, the expertise itself is powerful sufficient the place I believe it’s going to survive that.”

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