SAN FRANCISCO – Jack Dorsey, CEO of Twitter (NYSE: TWTR) has once again made headlines this Friday, this time for the sale of a digital asset: an ‘NFTweet’.
Dorsey tweeted a link to the popular decentralized digital asset sale website Cent.co and his for sale entry featuring his first-ever tweet, dated March 21st, 2006 as a Non-Fungible Token (NFT)
The current highest bid for the digitally signed tweet “just setting up my twttr” sits at an astonishing US$2.5 million by Sina Estavi, CEO of Bridge Oracle, as per the website.
NFTs have picked up in popularity as an alternative asset class in recent months. Their appeal as an investment class has grown, particularly to a younger, technology-savvy class of investors during the pandemic because of the increase in overall time spent online, record low-interest rates and low fee platforms triggering popularity in online trading, and the availability of blockchain technology that permits the transfer of ownership via digitally signed, secure tokens.
According to Twitter; tweets are protected by copyright as long as the content is original and involves a minimal level of creativity. Several other influencers and celebrities, such as Mark Cuban, have also sold their NFTweets in the past using the cent.co platform.