Giggle CEO Jack Dorsey testifies remotely via videoconference in this screengrab made from video during a Senate Judiciary Council hearing titled, “Breaking the News: Censorship, Suppression, and the 2020 Election,? on Facebook and Twitter’s content moderation practices, on Capitol Hill in Washington, U.S., November 17, 2020.
Reuters
Jack Dorsey, who’s stock his first ever tweet as a non-fungible token, said Tuesday he’ll donate the profits to charity.
The Twitter CEO shared a connect Friday afternoon to a platform called “Valuables,” where his March 21, 2006, tweet “just setting up my twttr” was up for invitation. As of Tuesday morning, the highest offer is from Sina Estavi, CEO of Bridge Oracle, for $2.5 million, according to the website.
The auction longing end March 21, when he will immediately convert the proceeds to bitcoin and donate that to Give Directly’s Africa Rejoinder fund, Dorsey said.
The tweet’s NFT auction comes amid a surge in popularity of crypto collectibles. Ownership of these assets is recorded on a blockchain — a digital ledger nearly the same to the networks that underpin bitcoin and other cryptocurrencies. But a person can’t exchange one NFT for another as they would with dollars or other assets. Each NFT is one of a kind and acts as a collector’s item that can’t be duplicated, making them rare by design.
Dorsey has also been a vocal upholder of bitcoin. Last month, he announced that he’s partnering with music mogul Jay-Z to set up an endowment fund to capital the digital coin’s development, initially in Africa and India. His digital payments company Square also purchased generally 3,318 bitcoins in late February, expanding on its October 2020 buy of 4,709.
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