Yesterday, the CEO of Twitter, Jack Dorsey, spoke about a tokenized version of the first tweet he had ever sent on the NFT platform Valuables. The original tweet, which dates back to 2006, was minted in December 2020, but Dorsey’s new tweet had started a bidding war, fitting for the frothy market for crypto collectibles that is flourishing today.
As of Saturday morning, the highest bid was made by Justin Sun, the founder of TRON and CEO of BitTorrent – he has offered $2 million. Sun is competing for the first tweet with Sina Estavi, the CEO of Malaysia-based Bridge Oracle, who is also an affiliate of TRON.
Valuables is an Ethereum-based platform that was designed by Cent, a social network, which lets users of Twitter to authenticate their tweets for sale to others – basically, you can imagine them as being digitally signed copies. The tokenized tweets can be sold only after the author of the tweet has accepted the bid.
Anybody has the option of buying a tweet on Valuables. For example, the first bid for the said tweet was $1, and it came from @TheGaloisCxn on December 15th, 2020.
Dorsey is already known for being a fan of bitcoin and has a history with the crypto space. Cash App, which belongs to his other company, Square, is an important venue for retail investors that wish to buy the cryptocurrency. Dorsey has also invested in Lightning Labs, a second layer on the Bitcoin network, which is perceived as a scaling solution.
But this is the first time that Dorsey has shown an interest in Ethereum. Some think that the recent boom in NFTs could be used to explain the announcement made by Square this week that it plans to buy the music streaming site Tidal. Before the announcement took place, Dorsey had made public his collaboration with rapper Jay-Z and their plan to expand the use of BTC in Africa and India.