Twitter CEO Jack Dorsey has sold a digital version of his first tweet for more than $2.9 million more than two weeks after he announced a digital auction for the post.
The tweet from March 2006, which says “just setting up my twttr,” was bought by Bridge Oracle CEO Sina Estavi, according to Valuables by Cent, the digital platform where the digital auction for the tweet was held.
The 15-year old post was sold as a non-fungible token, or NFT — a digital certificate of authenticity that confirms an item is real and one of a kind by recording the details on a blockchain digital ledger.
Dorsey tweeted earlier this month that the proceeds would be converted to Bitcoin, a digital currency not tied to a bank or government, and given to the nonprofit GiveDirectly’s Africa Response. The charity has been raising money to support African families who were financially impacted by the coronavirus pandemic.
According to Valuables, 95% of the proceeds from the sale price go to the tweet’s original creator while 5% of it goes to the platform. Dorsey tweeted the Bitcoin receipt Monday afternoon and said the funds were sent to the charity.
“Incredible - huge thanks @jack and @sinaEstavi - looking forward to getting this $ into recipients’ hands soon," GiveDirectly tweeted following Dorsey's announcement.
NFTs have recently swept the online collecting world. A digital artwork by the artist Beeple sold for $69.4 million in an online auction by a British auction house earlier this month, with an NFT as a guarantee of its authenticity.
Small business reporter, Gene Marks, joins Cheddar to give analysis on how small businesses are tackling incoming tariffs and how it will affect the consumer.
Babylist CEO Natalie Gordon joins Cheddar to discuss how the website is helping new parents, how to make a registry and how secondhand options are available.
Biotechnology company Regeneron Pharmaceuticals is buying 23andMe for $256 million, two months after the genetic testing company filed for Chapter 11 bankruptcy protection.
ReturnPro CEO Sender Shamiss to discuss how his company is changing the way we make returns and how Trump's tariffs are affecting the return business. Watch!
Walmart, which became the nation’s largest retailer by making low prices a priority, has found itself in a place it’s rarely been: Warning customers that prices will rise for goods ranging from bananas to car seats.
Chris Beauchamp, Chief Market Analyst at IG International, joins J.D. Durkin to give analysis on the recent trade truce between the U.S. and China. Watch!
