Twitter boss Jack Dorsey’s first tweet sold for €3.37m as NFT

Tweet from March 2006 bought with cryptocurrency Ether, proceeds go to charity

Jack Dorsey tweeted a link to the website where the NFT was listed for sale. Photograph: Jim Watson/AFP via Getty

Jack Dorsey tweeted a link to the website where the NFT was listed for sale. Photograph: Jim Watson/AFP via Getty

 

Twitter boss Jack Dorsey has sold his first tweet as a non-fungible token (NFT) for just over $2.9 million (€3.37million).

The tweet is in the form of an NFT – a kind of unique digital asset that has exploded in popularity so far in 2021.

Each NFT has its own blockchain-based digital signature, which serves as a public ledger, allowing anyone to verify the asset’s authenticity and ownership.

The tweet – “just setting up my twttr” – was Dorsey’s first tweet, made on March 21st, 2006.

The NFT was sold via auction on a platform called Valuables, which is owned by the US-based company Cent.

Screen grab from v.cent.co of the bidding war for Jack Dorsey’s first tweet. Photograph: PA
Screen grab from v.cent.co of the bidding war for Jack Dorsey’s first tweet. Photograph: PA

It was bought using the cryptocurrency Ether, for 1630.5825601 ETH, which was worth $2,915,835.47 at the time of sale, Cameron Hejazi, the chief executive and co-founder of Cent confirmed.

Cent confirmed the buyer was Sina Estavi. Estavi’s Twitter profile, @sinaEstavi, says he is based in Malaysia and is chief executive of the blockchain company Bridge Oracle. Estavi said he was “thankful” when asked for comment about the purchase.

Dorsey donation

On March 6th, Dorsey, who is a bitcoin enthusiast, tweeted a link to the website where the NFT was listed for sale. He then said in another tweet on March 9th that he would convert the proceeds from the auction into bitcoin and donate them to people impacted by Covid-19 in Africa.

Dorsey receives 95 per cent of the proceeds of the primary sale, while Cent receives 5 per cent.

Cent chief executive Cameron Hejazi said that his platform allowed people to show support for a tweet that goes beyond the current options to like, comment and retweet.

“These assets might go up in value, they might go down in value, but what will stay is the ledger and the history of ‘I purchased this from you at this moment in time’ and that’s going to be in both the buyer, the seller and the public spectators’ memory,” Hejazi said, adding that this was “inherently valuable”.