Jack Dorsey, the pro-Bitcoin Twitter founder, is selling his first tweet as an NFT, and the bid for the post has reached $2.5 million.
The post was published on March 21, 2006, and reads “just setting up my twttr.” The tweet is being auctioned off at a platform called Valuables, a marketplace launched three months ago.
just setting up my twttr
— jack (@jack) March 21, 2006
$2.5 million for a tweet
Crypto collectibles are on a roll and anyone ranging from artists, YouTube influencers and even rock bands are minting their content.
The highest bid – $2.5 million – for Dorsey’s tweet came from Sina Estavi, the CEO of Bridge Oracle, a public oracle system based on Justin Sun’s Tron Network.
Sun, the founder of Tron, also participated in the auction of the tweet. He offered $700K for the tweet, then $1 million before upping it to $2 million.
In mid-2019, Sun placed a winning bid that entitled him to have lunch with famed investor Warren Buffett. Sun invested $12 million in GameStop shares last month during the meme stock boom.
Estavi seems to have caught the tweet-buying bug is he has placed the highest bid on Changpeng Zhao’s – Binance founder and CEO – tweet. His bid currently stands at $121,000.
The auction has infuriated no-coiners and Bitcoin maximalists.
Bitcoin maximalists are not happy
Dorsey has cemented his place as Bitcoiner. However, bitcoin maximalists are not happy with Dorsey’s association with Ethereum.
A Twitter user replied to Jack’s tweet of the auction, stating that “Bitcoin is the only one.”
— The Crypto Monk ⛩️ (@thecryptomonk) March 6, 2021
Others have argued if the tweet being sold is valuable because almost everything about the tweet is already in the public domain.
The tweet buyer will get a certificate, verified and digitally signed by Dorsey.
Tweets are the newest digital assets to be turned into NFTs for financial gain. YouTuber Pual Logan turned his video streams into NFTs and sold them out for nearly $1 million.
The founders of Valuables compare defended the decision to sell tweets, saying it is not different from owning a piece of memorabilia.
“Owning any digital content can be a financial investment,” it says. “[It can] hold sentimental value. Like an autograph on a baseball card, the NFT itself is the creator’s autograph on the content, making it scarce, unique, and valuable.”