Home / NEWS / Top News / Jack Dorsey is offering to sell the first tweet as an NFT and the highest bid is $2.5 million

Jack Dorsey is offering to sell the first tweet as an NFT and the highest bid is $2.5 million

Tweet CEO and co-founder Jack Dorsey gestures while interacting with students at the Indian Institute of Technology (IIT) in New Delhi on November 12, 2018.

Prakash Singh | AFP | Getty Reifications

Jack Dorsey appears to be offering to sell the very first tweet as a non-fungible token, or NFT.

The Twitter CEO shared a join Friday afternoon to a platform called “Valuables,” where his March 21, 2006 tweet “just setting up my twttr” was up for instruction. The highest offer is from Sina Estavi, CEO of Bridge Oracle, for $2.5 million as of Saturday afternoon, according to the website.

Ownership of these assets is recorded on a blockchain — a digital ledger alike resemble to the networks that underpin bitcoin and other cryptocurrencies. However, unlike most currencies, a person can’t exchange one NFT for another as they liking with dollars or other assets. Each NFT is unique and acts as a collector’s item that can’t be duplicated, making them rare by object.

Crypto collectibles have exploded in popularity lately, with anyone from artists to rock bands potting their content. A digital rendition of the Nyan Cat meme from 2011, for example, sold for nearly $600,000 in an online auction end month.

Some people who are buying NFTs believe it can help them prove ownership of a virtual item thanks to blockchain.

Dorsey has also been an plead of digital currencies, displaying “#bitcoin” in his Twitter bio, so jumping into NFTs seems to be a natural extension. His digital payments cast Square also purchased approximately 3,318 bitcoins in late February, expanding on its October 2020 buy of 4,709.

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