Jack Dorsey

Jack Dorsey’s First Tweet Sold for $2.9m

Twitter founder Jack Dorsey has sold the first ever tweet on Twitter for $2.9 million. The terse public message, which reads “just setting up my twittr,” was sent out by Mr. Dorsey in March 21st, 2006. It has now been auctioned off as a non-fungible token (NFT), 15 years later.

The NFT was put on auction a couple of weeks ago; and was open for bids. Immediately after the setup, it attracted hundreds of bids, with eager buyers willing to part with $80,000 within minutes. Justin Sun of Tron in no time was also one of the bidders for the prized asset.

The winning bidder, Sina Estavi, pledged $2.5 million, before finally topping up his bid to $2,915,835.47. Mr. Estavi is the CEO of Bridge Oracle, a blockchain company. He paid  1630.5825601 ETH to the bidding platform Cent.

The sale of this tweet was unprecedented in the financial arena, since this is not a tangible asset. However, it was made possible through a generation of a unique non-fungible token that resides in the Ethereum blockchain. The use of NFTs to sell digital goods is gaining popularity in 2021. Recently, artist Mike Winkelmann, also known as Beeple, auctioned off his collage of digital art for a whopping $69m.

Jack Dorsey directed the proceeds from the sale to charity. On Monday, 21st March, he converted the ETH into 50 BTC and sent it out to GiveDirectly, a charity that gives money directly to poor families. The charity will spend the money on its African Response arm.

Mr. Estavi commented that he was thankful for winning the bid while also comparing the tweet to a Mona Lisa painting.

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