- Tron’s founder, Justin Sun, has bid half a million USD for Jack Dorsey’s first Tweet on the Valuables NFT market
- Jack Dorsey listed the tweet for sale earlier today
- The Ethereum based Valuable NFT marketplace allows users to buy and sell tweets autographed by their original creators
The founder and CEO of Tron, Justin Sun, has just bid half a million dollars for Jack Dorsey’s first tweet on the social media platform. Mr. Sun made public his intention of buying Jack’s tweet for $0.5 million via the following tweet.
— Justin Sun🌞 (@justinsuntron) March 6, 2021
Winning Bids Get an Autographed Version of the Tweet
Mr. Dorsey listed the tweet for sale on the Ethereum based Valuables NFT marketplace earlier today and Justin Sun’s is the highest bid thus far as seen in the following screenshot from the said marketplace.
The Valuables NFT marketplace allows users to mint any of their tweets on the Ethereum blockchain and put them up for sale. Potential buyers continue bidding for the Tweet and the winner gets an autographed version of it.
According to the Valuables FAQ’s page, the Tweet will continue to live on Twitter. The new owner of the Tweet will now have a digital certificate of it signed using cryptography and includes metadata of the original tweet. Such metadata includes when the tweet was posted, the text contents of the tweet, the timestamp and the digital signature from the creator’s digital wallet address.
NFT’s and Crypto will Fundamentally Change Social Media – CZ
The CEO of Binance, CZ, was particularly optimistic about the future of NFTs based on Jack Dorsey’s decision to mint his first Tweet on the blockchain. According to CZ, crypto and NFTs will fundamentally change social media and content platforms. He explained this concept as follows.
The #NFT monetization model for content platforms that @jack is pioneering now is MUCH MUCH better than ads, tracking users, etc.
#Crypto is going to fundamentally change social media now. Expecting a few flippenings if the top players don’t adapt/adopt quickly.
Ray Schuetz received a Masters Degree in computer science from The University of Texas (Austin). Ray has been working as a full-time blockchain consultant for the past 3 years. In his spare time, Ray enjoys writing for EthereumCryptocurrency.com and other crypto news publications.