After only a little more than two weeks on the market. Twitter CEO Jack Dorsey sold his first tweet as an NFT for the oddly precise sum of R43 283 244.88
Sina Estavi was the victorious bidder, having maintained the high bid since pledging R37 110 500.00 on March 6th. He increased his offer at the last minute to this amount (and if anyone can tell us what that value symbolizes, we’d love to hear your thoughts).
On March 5th, Dorsey placed the tweet up for digital auction as an NFT — a non-fungible token. A digital product that resides on the Ethereum network. Bids were taken on a website called Valuables by Cent. The allows individuals to place bids on tweets that have been “autographed by their original writers.”
The bids on Dorsey’s concise first tweet, “just setting up my twttr,” from March 21st, 2006, swiftly rose. Dorsey later announced that he would halt the auction on the tweet’s 15th anniversary. Centtime .’s stamp indicates that it was created at 12:01 a.m.
Estavi made his final, winning bid on Monday afternoon, and according to Reuters, paid using the Ether cryptocurrency in the amount of 1630.5825601 ETH. Estavi, CEO of blockchain company Bridge Oracle, told Reuters he was “thankful.”
NFTs allow you to buy and sell ownership of unique digital items and keep track of who owns them using the blockchain.
NFT meaning ?
NFT is an abbreviation for “non-fungible token,”. It may potentially include anything digital, such as paintings, animated GIFs, music, or video game goods.
An NFT can be one-of-a-kind, like a real-world artwork, or one of many copies, like trading cards, but the blockchain maintains track of who owns the file.
NFTs have recently made news, with some selling for millions of dollars, and high-profile memes such as Nyan Cat and the “deal with it” sunglasses being auctioned off. There’s also a lot of debate regarding NFTs’ huge power consumption and environmental effect. If you still have (understandably) unanswered queries, you can continue on.