Jack Dorsey First Tweet and Digital Home Sold as NFTs

Twitter CEO Jack Dorsey has just sold his first ever tweet as a “non-fungible token”, or NFT, for $2.9 million.

NFTs were created by Cent and are unique tokens that effectively act as a digitally secure certificate of authenticity that Cent claims cannot be reproduced. 

The NFTs make use of the same block-chain encryption system used by the cryptocurrency Ethereum (ETH)  and are designed to be integrated directly with the crypto exchange.

Dorsey sold the tweet to Bridge Oracle CEO Sina Estavi at a value of 1630.58 ETH. Dorsey recieved 95% of the sale proceeds, while 5% went to Cent for use of their NFT platform. It was reported that Estavi was at one point in a bidding war over the tweet with Justin Sun, tech entrepreneur and founder of cryptocurrency TRON.

After the sale, Dorsey converted the ETH to Bitcoin and donated the proceeds to Give Directly, an organization battling COVID-19 in Africa. 

NFTs have become the subject of much debate, particularly in the content creation and intellectual property space where some think that the new form of digital ownership will revolutionize the industry.

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