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Jack Dorsey: the first tweet in history up for auction
Jack Dorsey: the first tweet in history up for auction
Crypto

Jack Dorsey: the first tweet in history up for auction

By Marco Cavicchioli - 8 Mar 2021

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The first tweet in history has been auctioned off. It is the tweet in which Twitter founder Jack Dorsey said he was setting up Twitter

The tweet was published on March 21st, 2006 and was auctioned on Valuables in the form of an NFT (Non-Fungible Token).

At the moment, the highest bid is as high as two and a half million dollars (1630 ETH), made by sinaEstavi who had already previously bought the NFT of another tweet, at a price of 125.85$. 

Bids are made in ETH, and there was a real struggle between sinaEstavi and Justin Sun, founder of Tron, which began with the latter’s bid of $500,000 and continued with seven bids.

Valuables is a platform for selling and buying tweets signed by their original creators. 

How does the tweet auction work

In fact, only the author can put them up for sale, and when he does so, a unique NFT is created that acts as a digital certificate of the tweet, signed and verified by the creator, and that will become the exclusive possession, forever, of the person who wins the auction. 

In reality, the winner of the auction does not buy the tweet, but a unique non-fungible token representing that tweet on Valuable. However, since for each tweet a unique NFT is issued by its author, and since the NFT once purchased can also be kept by its new owner outside the platform – e.g. with a non-custodial wallet – it is as if the owner who buys the NFT buys a unique collector’s item that represents the tweet unambiguously.

These NFTs are to all intents and purposes digital collectables, which is why their market value can be so high. 

In this way, digital collectables can be created and sold, representing uniquely existing digital objects such as a tweet. 

95% of the proceeds from the sale of the Tweet go to the original creator, with the remaining 5% going to Valuables.

 

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 25 thousand subscribers.

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