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.
President Donald Trump is talking up a joint venture investing up to $500 billion for infrastructure tied to artificial intelligence by a new partnership formed by OpenAI, Oracle and SoftBank. The new entity, Stargate, will start building out data centers and the electricity generation needed for the further development of the fast-evolving AI in Texas, according to the White House. The initial investment is expected to be $100 billion and could reach five times that sum. While Trump has seized on similar announcements to show that his presidency is boosting the economy, there were already expectations of a massive buildout of data centers and electricity plants needed for the development of AI.
Chris Ruder, Spikeball Founder and CEO, explains how he and his friends put roundnet on the global map, plus, how Spikeball helps people "find their circle."
J.W. Roth, CEO of Venu Holding Corporation, discusses the company's IPO and plans to redefine live music entertainment with their fan founded, fan-owned model.
Variety's Clayton Davis discusses why more than just the 1% are struggling after the LA fires. Plus, how awards shows will pivot to help victims. Watch!
Emily Hosie, CEO of Rebelstork, explains the concept of Returns Recommerce, plus how her company raised $18M to address the industry-wide issue of returns.
