Twitter CEO Jack Dorsey tries to sell his first ever tweet for $2.5MILLION as an NFT collector's item
TWITTER CEO Jack Dorsey is trying to sell his first-ever tweet as an NFT collector's item and his highest bidder has offered $2.5million.
Dorsey – a 44-year-old billionaire who co-founded Twitter with Ev Williams, Biz Stone and Noah Glass in 2006 – has already received a handful of offers on his first tweet.
His tweet is for sale as an NFT [non-fungible token] – which digitizes a piece of work such as art or music and turns it into a non-fungible token that is stored on a cryptographic ledger.
NFTS, a trend that comes after Bitcoin helped created a new world of digital currencies, cannot be replicated and are unique to whoever owns them.
The Missouri-born son of a homemaker and developer revealed he was selling his March 21, 2006 tweet on Friday afternoon.
He tweeted a single link – leading followers to an NFT platform called Variables – with no explanation.
However, anyone who clicks on the link can see Dorsey has put his first tweet up for sale.
The tweet, shared at 2.50pm ET on March 21, 2006 reads: "just setting up my twttr."
Offers can be made on the Variables website, which explains: "The creator of a tweet decides if they would like to mint it on the blockchain, creating a 1-of-1 autographed version.
"Before they accept an offer to mint the tweet, anyone can make a counter-offer on Valuables."
Valuables allows the buying and selling of tweets autographed by their original creators.
Within minutes of posting about his first Twitter post being for sale, offers reached $88,888.88, according to Times Now News.
As of 9pm Saturday, the highest offer for his tweet remained at $2.5million.
The pricey offer was made by Bridge Oracle CEO Sina Estavi.
Before Estavi was dubbed the top bidder, tech entrepreneur Justin Sun appeared to start bidding at $500,000 and ultimately updated his offer to $2million.
Sun replied to Dorsey's 'Variables' tweet at 4.34am ET on Saturday, writing: "Hi @jack, I made an half million USD offer to buy your tweet."
Valuables notes that a "counter-offer must be a minimum increase of $1 or 10 percent, whichever is more."
Artists and musicians such as Grimes and Kings of Leon have also turned to the tokens to sell their work – as worldwide interest in cryptocurrencies such as Bitcoin, Ethereum, Dogecoin and Ripple have recently soared.
The value of Bitcoin has been boosted and hit record highs this year after backing from Tesla founder Elon Musk – while Reddit groups have urged amateur investors to purchase Dogecoin and Ripple cryptocurrencies.
NFT ownership history and transactions are stored on the blockchain which provides a form of authenticity and helps avoid fakes.
Musician Grimes has raised $6million by selling several pieces of digital artwork at auction through NFT marketplace Nifty.
Kings of Leon is reported to be releasing its next album as an NFT, which which will include exclusive artwork.
Christie's is also currently running its first purely digital artwork-focused auction with work from digital artist Mike Winkelmann, known as Beeple.
Earlier this year, Dorsey told his staff that Twitter's decision to ban Donald Trump is "bigger than one account" and will "go on beyond inauguration" in a leaked video.
Dorsey reportedly discussed the decision to ban the president's account in an internal meeting with employees, and a "whistleblower" leaked the footage.
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