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Jack Dorsey Gets $2.5M Bid for NFT of First-Ever Tweet

John McAfee Defends Self in Spanish Prison Over US Case
  • Jack Dorsey is accepting bids on the first-ever tweet made on the Twitter platform.
  • Currently, Bridge Oracle CEO Sina Estavi has the highest bid of $2,500,000.
  • TRON CEO Justin Sun made the initial bid of $500,000.

Twitter CEO and Founder Jack Dorsey has started receiving bids on a non-fungible token (NFT) of the platform’s first-ever tweet. At the moment, Bridge Oracle CEO Sina Estavi has the highest offer at $2.5 million.

Source: vcent.co

Big Names Flocking to NFTs

Tron founder Justin Sun has placed a bid of $500,000 on the NFT. However, the initial offers need to be 10% increments of the highest bid or $1, whichever is higher. Therefore, a new bidder will have to bid at least $550,000 to receive their bid accepted as the highest bid.

It appears Sun is not the only one interested in the NFT, as a number of competitors replied with their respective offers. However, Estavi appears to have been the highest bidder so far on the official platform.

Valuables is an initiative by Cent that allows users to mint, buy, and sell their tweets in the form of an NFT. In addition, the NFT is a digitally-signed and verified tweet that can only be minted once but can be sold and resold several times.

Even more, once a sale has been made, the seller gets 95% of the sale’s proceeds. Meanwhile, the remaining 5% is charged as fees by the platform.

Interestingly, Elon Musk’s tweet about Dogecoin got a bid of over $7,000. Currently, Elon’s taking Tesla private tweet has a bid of about $42,000. This is for the books, as the tweet caused him to pay the SEC a fine of $20 million back in 2018.

In February, Shark Tank celebrity and Dallas Mavericks owner Mark Cuban sold one of his tweets on the Valuables platform for approximately $1,000.

NFT Craze Ongoing

The NFT craze is not showing any signs of slowing down. This week, a group has burned Banksy’s original artwork. Furthermore, the group not only burned Banky’s artwork but subsequently announced that they would create an NFT version of it. Moreover, a portion of the proceeds from the sale of this NFT will go to charity.

Recently, Enjin and Metaverseme merged NFT with augmented reality with the goal of enhancing the gaming experience of users.

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Crypto trading has enticed Ananthi Reeta to write for CoinQuora. She consistently contributes news and feature articles. She has covered several different blockchain and crypto niches, especially altcoins.