On March 21, 2006, Jack Dorsey, co-founder and current CEO of Twitter, made his first publication on the platform. Today, this tweet is being auctioned off as an NFT, or non-fungible token, marking Dorsey’s entry into this euphoric and new market for unique digital assets. At the time of this publication, the highest bid was $ 2.5 million.
After all, what are NFTs?
NFTs (non-fungible tokens), are a way to transform basically anything from the digital universe into a unique asset, with its exclusivity and authenticity protected by an immutable blockchain network. Thus, similarly to a cryptocurrency, the asset is transferable and today it has fallen into the taste of the most diverse and eccentric online collectors.
These tokens have become especially popular in the digital art market, but are not restricted to just that. As Dorsey realized, even a tweet from 15 years ago can become a value-added asset. So meme creators, visual artists, singers, bands and even youtubers are profiting millions from these sales.
How do you sell a tweet?
Last Friday, Dorsey posted on Twitter just a link to the auction for the platform’s first tweet. His content is very simple, he is the co-founder of the social network saying: “I’m just setting up my Twitter”. The information about the NFT and about what involves its sale has been clarified. After all, how can someone become the owner of a publication on a social network?
In reality, what is certain is that the future buyer will have possession of the non-fungible token registered in blockchain equivalent to the tweet. However, according to the rules of the social network, you cannot transfer something like this and Dorsey’s @jack account is still the owner of the publication, being able, for example, to delete it if she wanted to.
just setting up my twttr
– jack (@jack) March 21, 2006
Put up for auction on the Valuables platform, the first tweet in history started without a minimum bid. The first offer was US $ 1, while the maximum was US $ 2.5 million, made on Saturday (06) by the user Sina Estavi, CEO of Bridge Oracle. Since then, there have been no higher bids.
Memes, albums and digital art have already become NFTs
On Thursday, the classic meme “Deal With It” was registered as an NFT and auctioned for 15 ether (ETH), the equivalent of $ 22,000 at that day’s price. The token was created and offered for sale by the original author of the meme who also offered all copyright and image rights involving the template in Photoshop that originated the joke on the internet.
Another popular meme to be sold as NFT was the “Nyan Cat”, the cat / toast that travels through space leaving a rainbow trail. The artist behind its creation, Chris Torres, remastered the original animation and sold it for a maximum bid of 300 ETH, or about $ 447,000. However, the copyright on the GIF was not assigned. The auction was on a single file, equivalent to a limited work of art.
Meanwhile, even the music market has joined non-fungible tokens. Kings of Leon became the first to record an NFT album. Its most recent release, “When You See Yourself”, went on sale in a limited and exclusive edition last Friday (05) on the YellowHeart platform. Other assets have also emerged, such as “golden tickets” that guarantee their buyer front-row seats at any concert of the band for life.
Finally, pop singer Grimes profited more than $ 6 million from digital art sales registered as NFTs. The works were made available for purchase in late February and set up a collection of still images related to his latest album with limited copies and unique short videos accompanied by original music.
With information: Engadget