Twitter CEO Jack Dorsey is auctioning off the first-ever tweet through a website called Valuables as a “non-fungible token” (NFT), and the bids are already up to well over $2 million, according to Business Insider.
Dorsey listed the March 2006 tweet, “just setting up my twttr,” on Valuable’s platform Friday. The highest current bid — $2.5 million — belongs to Sina Estavi, the chief executive of Bridge Oracle, according to Business Insider. (RELATED: BARR: Uncle Sam Moves To Control Cryptocurrency)
just setting up my twttr
— jack (@jack) March 21, 2006
NFTs, non-fungible tokens, are defined as unique digital collectibles that cannot be duplicated or exchanged and whose ownership is stored on a “blockchain.” The assets have been gaining popularity recently and the move by Dorsey comes as no surprise, as he has long been a supporter of different cryptocurrencies, according to NBC.
The bidding will end when Dorsey accepts an offer and the winner will receive proof of ownership through a digital certificate, although the tweet will stay on Twitter, according to Forbes.
“If Jack’s tweet is not inherently valuable to be sold at $2.3M as an NFT art for just being the first tweet, it is worth more for being the first piece of popular digital product drop to have made NFT art sale a mainstream discussion topic,” Ashwin Ramasamy, co-founder of PipeCandy, told Business Insider.