People with a lot of time and money on hand have offered $ 2.5 million to “buy” the first message from Twitter founder Jack Dorsey on the platform.
The winner of the auction will get a digital certificate that will allow them to claim the 2006 tweet, in which Dorsey wrote “simply setting up my twttr.”
The battle to buy the tweet is part of the latest digital fashion, known as “non-fungible tokens” or NFT.
An NFT is created using blockchain technology, the same one behind digital currencies like Bitcoin. The “non-fungible” part means it is unique and cannot be replaced.
Dorsey’s tweet will remain where it is on Twitter, even after “buying it” at auction.
The collection of tweets, videos and digital art became very popular among the most involved during the pandemic. A 10-second video of digital artist Beeple sold last week for $ 6.6 million, which caught the attention of the trend.
Owners can display their NFTs in an online gallery.
Dorsey posted a link to the online auction being held on the Valuables site on Friday. Before sharing the link, the bid price was less than $ 1 million. On Saturday afternoon, the price had jumped to $ 2.5 million.
Dorsey, 44, is worth an estimated $ 12.5 billion, according to Forbes. There was no sign that the auction was for charity.
In the FAQ section, the Valuables site explains that a purchased tweet continues to be posted on the social media site, but the buyer receives a digital certificate from the tweet that is “unique because the creator has signed and verified it.”
NFT enthusiasts expect the items they buy to increase in value, but it’s still unclear if there will be a lasting market for digital collectibles.