Jack Dorsey, the billionaire co-founder and CEO of Twitter, a man who stans bitcoin right on his Twitter bio, is attempting to sell his very first tweet as an NFT — a digital good that lives on the Ethereum blockchain.
You’re probably familiar with the famous tweet, “just setting up my twttr”:
Despite the fact that this tweet has been publicly available as a free digital item to look at whenever anybody wanted for nearly 15 years, Dorsey is now trying to sell it as an NFT, or “non-fungible token,” through a platform called Valuables.
As you would rightly expect, bidding is already north of $80K. As of Saturday morning, the highest offer for Dorsey’s tweet was $2 million, from tech entrepreneur Justin Sun. By Saturday evening, the high bid was $2.5 million.
What’s an NFT?
NFTs allow you to buy and sell ownership of unique digital items and keep track of who owns them using the blockchain. NFT stands for “non-fungible token,” and it can technically contain anything digital, including drawings, animated GIFs, songs, or items in video games. An NFT can either be one of a kind, like a real-life painting, or one copy of many, like trading cards, but the blockchain keeps track of who has ownership of the file.
NFTs have been making headlines lately, some selling for millions of dollars, with high-profile memes like Nyan Cat and the “deal with it” sunglasses being put up for auction. There’s also a lot of discussion about the massive electricity use and environmental impacts of NFTs. If you (understandably) still have questions, you can read through our NFT FAQ.
What does “buying” this tweet actually mean? “What you are purchasing is a digital certificate of the tweet, unique because it has been signed and verified by the creator,” according to Valuables’ FAQ.
In other words, an autograph. You’re buying an autograph.
The tweet will continue to live on the internet for as long as Dorsey, and Twitter the company, choose to keep it up.
Update March 6th, 3:20AM ET: The highest offer is now $363,000.
Update March 6th, 11:59AM ET: The highest offer rose to $2 million
Update March 6th, 5:55PM ET: The highest offer stands at $2.5 million