Twitter CEO Jack Dorsey remotely testified by videoconference in this video-based screenshot during a Senate Judiciary Committee hearing entitled “Breaking the News: Censorship, Suppression, and the 2020 Elections” on Facebook and the Twitter content moderation practices at Capitol Hill in Washington, USA, November 17, 2020.
Reuters
Jack Dorsey, who sells his first tweet ever as a non-fungible witness, said Tuesday he will donate the benefits to charity.
The CEO of Twitter has shared a link Friday afternoon on a platform called “Valuables,” where his March 21, 2006 tweet “Just set up my twttr” was ready to bid. As of Tuesday morning, the highest bid is from Sina Estavi, CEO of Bridge Oracle, for $ 2.5 million, according to the website.
The auction will end on March 21, Dorsey said. It will then immediately convert the collection into bitcoins and donate it to Give Directly’s Africa Response Fund.
The NFT auction of the tweet comes amid an increase in popularity of collectibles in cryptography. Ownership of these assets is recorded in a blockchain, a digital book similar to the networks that support bitcoin and other cryptocurrencies. But the person cannot exchange one NFT for another as he would with dollars or other assets. Each NFT is unique and acts as a collector’s item that cannot be duplicated, which makes them rare for design.
Dorsey has also been a vocal advocate of bitcoin. Last month, he announced that he has partnered with music mogul Jay-Z to create an endowment fund to fund the development of digital currency, initially in Africa and India. Its digital payment company Square also bought approximately 3,318 bitcoins in late February, expanding its October 2020 purchase by 4,709.
Subscribe to CNBC on YouTube.