Jack Dorsey Sells NFT of First Tweet for $2.9M

Twitter CEO and Billionaire bitcoin advocate Jack Dorsey sold a digital version of his very first tweet from March 2006, which says “just setting up my twttr,” as a special digital asset class known as a non-fungible token to Bridge Oracle CEO Sina Estavi for more than $2.9 million, two weeks after he announced a digital auction for the post.

The tweet from March 2006, which says "just setting up my twttr," was bought by Bridge Oracle CEO Sina Estavi, according to Valuables by Cent, the digital platform where the digital auction for the tweet was held.

The 15-year-old post was sold as a non-fungible token, or NFT — a digital certificate of authenticity that confirms an item is real and one of a kind by recording the details on a blockchain digital ledger.

Dorsey tweeted earlier this month that the proceeds would be converted to Bitcoin, a digital currency not tied to a bank or government, and given to non-profit Give Directly’s Africa Response. The charity has been raising money to support African families who were financially impacted by the coronavirus pandemic.

Valuables is a new digital outfit is built on blockchain outlets Ethereum and Matic Network which enables users to tokenize and sell individual tweets up for sale using Valuables, and selling tweets up for sale using Valuables, and selling tweets through digital auction as popular digital collector’s items. 

According to Valuables, 95% of the proceeds from the sale price go to the tweet’s original creator while 5% go to the platform. For secondary sales, 87.5% goes to the seller, 10% goes to the creator, and 2.5% goes to Valuable. Dorsey tweeted the Bitcoin receipt on Monday afternoon and said the funds were sent to the charity.

“Incredible – huge thanks @jack and @sinaEstavi – looking forward to getting this $ into recipients’ hands soon,” Give Directly tweeted following Dorsey’s announcement. NFTs have recently swept the online collecting world. A digital artwork by artist Beeple sold for $69.4 million in an online auction by a British auction house earlier this month, with an NFT as a guarantee of its authenticity.