Jack Dorsey’s first tweet sold for $2.9 million worth of Ethereum as the billionaire settled his informal Non-Fungible Token (NFT) auction on Monday.
Blockchain entrepreneur Sina Estavi submitted the winning bid after exchanging offers with TRON’s Justin Sun — a serial marketeer in charge of the blockchain ecosystem in which Estavi’s tech resides.
- Dorsey listed the tweet on December 15, 2020, attracting $1 to start.
- 14 bidders vied for the associated NFT, which the platform describes as a “digital certificate” of the post.
- Estavi and Sun were the only bidders to submit offers over $1 million.
Twitter billionaire Dorsey previously promised proceeds from the sale to charity Give Directly, which transfers cash to people in need.
But how can you, like, own a tweet, man?
Dorsey is famously pro-Bitcoin, so the sale of his tokenized tweet for Ethereum raised eyebrows among insiders at the time.
- NFTs can be used to denote the ownership of a digital asset.
- Cent’s Valuables platform mints NFTs tied to replicas of specific tweets.
- Buying those NFTs is pitched as patronage that benefits the poster.
[Read more: NFT sales hit $1B for the year — already dwarfing 2020]
Dorsey would later share plans to convert crypto from the NFT sale into Bitcoin before donating it to Give Directly.