Celebrities and artists were at the forefront of the drive to accept NFTs. Many of their creative items were minted and listed on the various NFT marketplaces for interested buyers.
The latest news making the rounds this time is the first NFT tweet by former Twitter CEO Jack Dorsey, whose value has skyrocketed to $48 million since last year.
OpenSea is where the NFT tweet was listed, considering its popularity in transactions involving NFTs. The first tweet was sent way back in 2006, when the social media platform was in its infant stage, before exploding to become one of the world’s leading companies.
Since then, Twitter has grown by leaps and bounds, enjoying widespread acceptance and patronage across the globe.
Dorsey’s Tweet Valuation
As per the report by U.Today, the initial value of the tweet as sold by Jack as an NFT was $2s.9 million in March of the previous year. The winner of the bid is Bridge Oracle’s CEO, Sina Estavi.
Following the conduct of the first tweet, the former Twitter CEO disclosed that the proceeds from the auction would be donated to a charitable cause upon converting it to Bitcoin.
The current buyer, Estiva, is willing to sell the NFT collection for a princely sum of 14,969 Ether. Estavi also pledged to donate half of the profits from the sale of the NFT item to charity. Meanwhile, part of the condition is that Dorsey wants the holder of his first NFT tweet to donate about 99% of the sale proceeds.
Cryptocurrency and Dorsey, the Perfect Match
Jack Dorsey has been a keen supporter of digital currencies for years, with his preferred currency being Bitcoin, and his least favorite being altcoins. Dorsey has previously aired his views about his dislike for altcoins and his belief that they serve no economic purpose.
During his time as CEO of Twitter, Bitcoin tipping was introduced to the social media platform, followed by Ethereum. Since then, Dorsey has paid no attention to the clamor about adding other cryptos to the platform.
According to the previous report, as stated by U.Today, Dorsey stepped down as the CEO of Twitter in November last year to concentrate on his ambitions of floating a digital currency. The industry is waiting in anticipation of the launch of the cryptocurrency.
Following his resignation, the current management of Twitter is open to the possibility of integrating other cryptocurrencies on the platform. In February, it can be recalled that Twitter allowed its users to tip their favorite creators with ETH upon adding the support for NFT profiles.
Last February, Block (formerly Square) acquired a whopping $170 million worth of BTC in another development last February. Before then, the company has announced that it is building an open Bitcoin mining facility in an unknown location.
The growth of cryptocurrency is likely to take on another dimension when influential personalities like Dorsey come on board.
For now, the industry is moving at a fast pace that will make further growth possible.