At the beginning of March, Dorsey made the headlines when he announced that he would auction the tokenized version of his first-ever tweet. He said that he would immediately exchange the proceedings for Bitcoin and would donate the entire amount to charity via GiveDirectly.
The Twitter boss, who is a well-known Bitcoin fan, published his first post on the platform exactly 15 years ago, on March 21, 2006, tweeting: “just setting up my twttr.” That tweet was put to the sale as a unique digital signature on an NFT marketplace called Valuables.
Who Is the Lucky Buyer?
The highest bidder is Sina Estavi, the CEO of Bridge – a blockchain oracle network built on Tron. He offered to pay $2.5 million worth of ETH for Dorsey’s tokenized tweet. Interestingly, Estavi made the $2.5 million bid the very same day when the Twitter CEO launched the auction. No other person had topped that figure for two weeks after that.
However, that was not the only offer. In fact, based on the last few bids, we can see that Estavi competed with Justin Sun, the founder and CEO of Tron – the same blockchain platform that Estavi’s Bridge is built on. The highest bid coming from Sun was $2 million.
On a side note, Sun was in the spotlight last year when he paid $4.5 million for dinner with legendary investor Warren Buffett, although the event occurred at a much later date than initially planned.
As for Estavi, he also offered over $1 million for Elon Musk’s first NFT, which is a techno song clip with the lyrics: “NFT for your vanity. Computers never sleep. It’s verified. It’s guaranteed.” However, Musk eventually turned down the offer last week, saying:
“Actually doesn’t feel quite right selling this. Will pass.”
What Are NFTs Anyway?
For those unfamiliar, NFTs are blockchain-based digital tokens representing something unique or scarce. What sets these tokens apart is that they are not replicable fungible, such as Bitcoin, Ethereum, or fiat money. In other words, any ETH unit is not different than the rest of the ETH units in terms of value, which is not true about NFTs. While they can reside on the same blockchain and be issued by the same entity, each NFT has its own value.
NFTs are probably the fastest-growing sector within the crypto industry right now, together with Decentralized Finance (DeFi). They can be used to tokenize both digital and physical objects, with use cases ranging from collectibles, art, sports, fashion items, certificates, and even real-estate.