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Twitter CEO Converts First Tweet to NFT, Sold at Over $2.9m

Twitter CEO Converts First Tweet to NFT, Sold at Over $2.9m
  • Twitter CEO Jack Dorsey sold his first tweet for more than $2.9 million
  • The tweet from March 2006 was purchased by Bridge Oracle CEO Sina Estavi.
  • Dorsey said he will convert the proceeds to Bitcoin and will then donate that to GiveDirectly, Africa Response Fund.

Jack Dorsey, Twitter CEO, has sold a digital version of his first tweet for more than $2.9 million. The sale took place just 2 weeks following the post’s digital auction announcement. According to Valuables by Cent, Bridge Oracle CEO Sina Estavi bought the tweet made in March 2006.

The 15-year old post sells as a non-fungible token (NFT), a digital certificate of authenticity. NFT confirms an item is authentic and one of a kind by recording the details on a blockchain digital ledger. According to Valuables, 95% of the proceeds from the sale goes to the tweet’s original creator, while 5% of it goes to the platform.

Dorsey tweeted earlier this month saying that he plans to convert the returns to Bitcoin (BTC). This will then be donated to the nonprofit charity, GiveDirectly, an Africa Response Fund. The charity has been gathering money to support African families affected financially by the coronavirus pandemic.

This resulted in GiveDirectly reacting in a tweet:

Of note, searches for NFT are picking up since the end of January 2021, increasing week-on-week throughout February. Google trend data predicts that NFT will reach an exciting mark of 100, which shows peak popularity for the period by March 13. Moreover, the Wonder Woman comic book series has made $1.85 million in an auction selling NFTs. The comic book series consists of over 914 NFTs, including seven illustrations or animated GIFs.

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A Computer Engineering graduate who writes news focuses on cryptocurrency-related and blockchain technology. He is enjoying using his skills to contribute to informing people of the exciting technological advances that happen every day.