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  • Business
  • Updated: Mar 06, 2021

Bids For Jack Dorsey's Tweet Reach $2.5 Million

Bids For Jack Dorsey's Tweet Reach $2.5 Million

Twitter CEO Jack Dorsey put up his genesis tweet to be auctioned as a non-fungible token (NFT), and biddings have gained heat over the weekend, reaching $2.5 million on Saturday.

Dorsey's first tweet, "Just setting up my twttr", which was posted in March 2006 was minted in December 2020 on Valuables — a tweets marketplace. However, Dorsey sparked a bidding war on Friday after he tweeted a link to it and it was shared thousands of times.

Justin Sun, the founder of TRON and the CEO of BitTorrent is also in the race, as he was seen raising the bid to $2 million. Bridge Oracle CEO Sina Estavi is also vying for the historic tweet.

READ MORE: Jack Dorsey's Square Acquires Majority of Jay-Z's Tidal

"Valuables" is an Ethereum-based platform created by the social network Cent that allows users of Twitter to authenticate their tweets for sale to others (think of them as digitally signed copies). The tokenized tweets are only sold when the author of the tweet accepts a bid.

The platform's founders have a post on the site that says "Owning any digital content can be a financial investment. It can hold sentimental value. Like an autograph on a baseball card, the NFT itself is the creator's autograph on the content, making it scarce, unique, and valuable."

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