Jack Dorsey’s first tweet sells for 2.9 million Dollars

Jack Dorsey’s first tweet sells for 2.9 million Dollars

The tweet, “I am launching my twttr,” was first published on March 21, 2006 and was auctioned off by Mr Dorsey through an organization that helps the poor.

Malaysian-based buyer Sina Estavi compared buying and buying a Mona Lisa painting.

The tweet was purchased using ether cryptocurrency, a rival of bitcoin.

Top $ 2.5m bid for Jack Dorsey’s first tweet

A Twitter manager has donated $ 15m to a fund for poor families

What are NFTs and why are some worth millions?

Sold as an indestructible token on Monday to Mr Estavi, chief executive of technology company Bridge Oracle.

NFT is a unique digital certificate that identifies who owns an image, video or other type of online media. Each NFT is unique and acts as a repetitive collector, making them unique in design.

NFTs are very popular this year, with expensive digital paintings also sold this way.

Mr Dorsey said he would convert the proceeds into bitcoin and donate them to the Give Directly’s Africa Response fund.

“This is not just a tweet!” Mr Estavi wrote on Twitter. “I think over the years people will see the real value of this tweet, like the Mona Lisa painting.”

Mr. Dorsey’s short tweet was sold at an auction on an online platform called Valuables, owned by the American-based company Cent.

Under the rules of the platform, Mr. Dorsey receives 95% of the proceeds from basic sales, while Cent receives 5%.

But this post will remain publicly available on Twitter even after auction. Within minutes the auction bids have reached more than $ 88,000.

As a consumer, Mr. Estavi will receive a certificate, digitally signed and verified by Mr. Dorsey, as well as the original tweet metadata. Details will include details such as when the tweet was sent and the content of this text.

Communication experts predict sales of tweets and other online posts will become very popular.

“We live in a time when celebrities, artists and prosecutors have a lot of fans, they have a stan, and they will want to be part of their favorite stars,” said Cathy Hackl, founder of technology company Futures Intelligence Group.

“As people who buy portable memory, they will buy their tweets, posts, and summaries because they want to feel closer to that star.”

Earlier this month, the first digital art auction held at Christie’s auction house threw Beeple artist $ 69m.

Beeple – real name Mike Winkelmann – creates a new piece of digital art every day, and has been selling the first 5,000 days (13 years) of his work.

“This is an exciting time and a testament to the concept of digital art, which addresses issues of commercial value, authenticity, ownership and scarcity,” said Rob Anders, head of Israeli art based Niio.