Social media giant, Twitter, is giving out 140 unique Non-Fungible Tokens (NFTs) to lucky users. The NFTs are based on seven unique designs in GIF format and each would be distributed 20 times to the benefactors. The site has put the collectibles on Rarible, a popular NFT marketplace, and is now scouting for the lucky winners.
The social platform popularly called the “bird app” tweeted the giveaway on its official account. Several followers have gathered under the tweet as Twitter would be handing the NFTs directly.
According to Twitter terms, the right of ownership of the collectibles still rests with Twitter but the recipient can display it for personal reasons under specific terms. Most importantly, the recipient is not expected to make use of the collectible for any commercial purpose or use it to the detriment of the social media network. A violation of the terms would attract fines of $100.
These NFTs are free, however, Rarible attached values to some of them in Wrapped BTC.
The NFTs Specified
The all-GIF NFTs were displayed under the tweet the platform made. They include the first tweet made by Twitter CEO Jack Dorsey tagged “the firstborn”, a flurry 3D representation of the Twitter logo, the Reply Guy, and several other Gifs related to the social media platform.
NFTs are gradually becoming an indispensable aspect of the blockchain world. It has garnered so much relevance that has seen it rake up sales on millions in several auction houses including Christie and Sotheby. Binance recently created NFT trading for the industry.
Rarible which is the hosting platform for the Twitter NFTs has grown in value and reputation. The platform recently announced that it has generated over $14.2 million in funding for series A.