Twitter’s Jack Dorsey auctions off his first tweet as NTF

Twitter’s Jack Dorsey auctions off his first tweet as NTF

Jack Dorsey, the CEO of Twitter, is selling his first tweet. The sale is taking place as a token (NTF). Bids have already reached millions.

Twitter is a „microblogging service“ and is often described as a „virtual diary“. Users can disseminate messages up to 280 characters long via the service. Meanwhile, about 330 million people around the world use Twitter every month. The users with the most Bitcoin Era followers are currently Justin Bieber, Kate Perry, Rhianna and Christiano Ronaldo. Twitter is also particularly well known for the messages of former US President Donald Trump, whom Twitter blocked at the end of his term.

The first tweet

Twitter was founded in 2006, when the service was still called „Twttr“. From the very beginning, the service used the familiar blue bird as its trademark, albeit in a different design at first.

On 21 March 2006, software developer and co-founder Jack Dorsey created the first short message, later called a „tweet“. It had the following content:

just setting up my twttr („just setting up my twttr [account]“).

This first tweet is now being auctioned as a so-called NTF.

What is an NTF on Ethereum?

„NTF“ stands for „Non-Fungible Token“ and means „non-exchangeable token“. NTFs are used to tokenise artworks on the blockchain, often that of Ethereum (ETH). This means that these works of art only exist there, i.e. they are digitally unique.

NTFs are currently enjoying great popularity and cover many areas. They include artworks, trading cards, pieces of music and more. Recently, for example, the artwork „Morons“ by the street artist Banksy was burned and then digitally sold on the blockchain.

The auction of the first tweet as an Ethereum token

Dorsey shared the auction of his tweet on Friday 5 March 2021. This is done almost succinctly via a tweet with a mere reference to the action. There was only a link in the tweet:

https://t.co/xCnWG9EqgD

Shortly after, the bids reached over 100,000 US dollars. At the time of writing, the user „@sinaEstavi“ is leading with a bid of 2.5 million US dollars.

The auction runs on the platform „Valuables by Cent“. The rules there are such that the seller can decide whether to „mint“ this tweet on the blockchain. A 1-1 copy signed by the seller is then created.

Dorsey can therefore wait until a bid comes in that suits him in terms of amount. Until then, any participant can place a higher bid. The bids are placed in Ether, the native token of Ethereum, and converted into US dollars.