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Jack Dorsey’s First Tweet NFT Finally Sold for $2.9 Million in Auction

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by Bhushan Akolkar · 2 min read
Jack Dorsey’s First Tweet NFT Finally Sold for $2.9 Million in Auction
Photo: TED Conference / Flickr

The final bid for Dorsey’s first tweet posted 15 years ago in 2006 has been sold for $2.9 million, the proceeds of which shall go for charity.

On Sunday, March 21st, the auction for the first tweet NFT from Twitter founder Jack Dorsey came to conclusion. The auction started two weeks back as Dorsey tried jumping on the NFT craze. Thus, the tokenized version of his first tweet finally went for a price of $2,915,835.47 million.

Non-fungible tokens aka NFTs have created a massive buzz over the last month. The NFT market has become a multi-million dollar market with transaction volumes soaring sky high. A little bit more than a week ago, Beeple’s digital artwork NFT sold for a massive $69 million setting up a new benchmark in the NFT marketplace.

The multiple million bid for Dorsey’s first tweet came back soon after the announcement. The top bid has stayed there for a while and hasn’t moved since. Sina Estavi, the CEO of Malaysia-based Bridge Oracle has emerged as the highest bidder for it. The bid came as early as March 6 when Dorsey first tweeted about the auction.

Three days later, Dorsey said that he would be accepting the final bid and convert all of the proceeds into Bitcoin (BTC). Furthermore, he would donate the entire proceeds to charity. The Give Charity is a non-profit organization that focuses on giving direct cash-transfers to low-income people.

Tweet NFT Joins the Common Craze

Non-Fungible tokens popular as NFTs have created a massive rage in recent times. These blockchain-based cryptographic tokens are absolutely unique in a way with no-two tokens being the same. Thus, NFTs have become popular in representing something that is scarce and exclusive.

NFTs have become a popular way of tokenizing digital assets. Recently, the digital artwork industry is buzzing around with the NFT craze. As said, Beeple sold his digital artwork NFT last week for $69 million to Singapore-based NFT fund Metapurse. MetaKoven, the parent of Metapurse, said that it plans to have a Virtua; Museum to house the Beeple’s masterpiece.

Another digital artist Grimes also sold several other NFT items for around $6 million. On the other hand, the National Basketball Association (NBA) launched its own NFT marketplace, NBA Top Shots. This platform has already conducted NFT sales worth nearly $300 million.

The NFT popularity has peaked to levels that it has even surpassed the DeFi craze in 2021.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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