The first tweet that Twitter Inc. Chief Executive Jack Dorsey posted to the microblogging site in 2006 has sold as a nonfungible token for about $2.9 million, the latest digital collectible to haul in more than $1 million amid a flurry of interest from buyers.
The tweet, which said “just setting up my twttr,” was first published on March 21, 2006 and was auctioned off by Mr Dorsey for charity.
The winning bidder, Malaysia-based blockchain company Bridge Oracle CEO Sina Estavi, technically owns a digital certificate of the tweet—“just setting up my twttr,” according to Valuables, an NFT marketplace for buying and selling tweets that ran the auction.
An NFT is a unique digital certificate that states who owns a photo, video or other form of online media. Each NFT is unique and acts as a collector’s item that can’t be duplicated, making them rare by design.
NFTs have become hugely popular this year, with expensive digital artwork also being sold this way.
“This is not just a tweet!” Mr Estavi posted on Twitter. “I think years later people will realize the true value of this tweet, like the Mona Lisa painting.”
The post will remain publicly available on Twitter even after it has been auctioned off. Within minutes of the auction bids reached more than $88,000.
As the buyer, Mr Estavi will receive a certificate, digitally signed and verified by Mr Dorsey, as well as the metadata of the original tweet. The data will include information such as the time the tweet was posted and its text contents.
Social media experts predict the sale of tweets and other online posts will become more popular.
“We live in an age where celebrities, musicians and influencers have more than fans, they have stans, and they will want to own a piece of their favourite stars,” said Cathy Hackl, founder of technology consultancy Futures Intelligence Group.
“Just like people buy physical memorabilia, they will buy their tweets, posts, and snaps because they want to feel close to that star”
