It’s not every day that one gets the chance to be the exclusive owner of a tweet, but with Twitter’s CEO auctioning off the platform’s first-ever tweet, this may become a reality for one lucky person!
On Friday, the 15-year old tweet from March 2006 by Jack Dorsey, Twitter’s CEO, was put up for sale on a site called ‘Valuables by Cent’ — a marketplace for tweets. The iconic tweet, which said “just setting up my twttr“, now has multiple bidders and will be sold as an NFT.
What Are NFTs?
Simply put, an NFT, also known as a non-fungible token, is something that cannot be replaced. The non-fungible aspect refers to how the item is truly one of a kind and cannot be traded for something of a similar value.
This non-fungible token stands for the unit of currency on the blockchain. The tokens are also the mechanism through which bitcoins are bought and sold.
Why has it become increasingly popular?
Most people believe that NFTs will be the future of e-commerce. It is considered the digital equivalent of having got a collector’s item off an auction. The best part about the NFT is that it can be anything digital — art, music and now, even tweets!
This does bring us to the question of why someone would pay millions of dollars for something that other people on the internet can easily access. The perk is that the owner of the NFT is given the ownership rights of the item, even though the original artist retains the copyright.
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You are given an authenticity certificate which serves as proof that the item is truly unique, and while other people may have copies of your item, NFT enthusiasts claim that it is still an incredibly valuable thing to own.
Jack Dorsey’s Tweet
The CEO’s news of putting the first-ever tweet for sale took the internet by storm, and within minutes of him putting up the link to the item, the bids were up to nearly $88,888!
People were quick to notice that older offers on the tweet dated back to December, but the proposals picked up only on Friday after he tweeted about it.
This particular tweet is considered one of the most famous and well-known tweets on the platform. It was expected that its sale would bring in bidders who would place a high bid to attain the tweet as digital memorabilia.
Earlier today, the highest bid recorded was around $100,000 (nearly Rs. 73.1 lakhs). According to the site Valuables by Cent, “There is only one unique signed version of the tweet, and if the creator agrees to sell, you can own it forever.”
The lucky bidder who wins the auction will be entitled to ‘an autographed digital certificate, signed using cryptography, that will include metadata of the original tweet’. And while the offers roll in, the hopeful bidders will continue to fight it out in hopes of being the lucky winners of this one-of-a-kind item.
Image Credits: Google Images
Sources: Hindustan Times, NDTV, Indian Express
Find the Blogger: @MalavikaMenon28
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