At the time of writing, the highest bid was $ 1.5 million from a crypto businessman named Sina Estavey. He is in a fight with Chinese tech entrepreneur Justin Sun. That increased susceptible Several times in the past hours.
It is unclear why the bidder is eager to take ownership of Dorsey’s tweet. Presumably, it is about a rapidly gaining popularity associated with cryptocurrency. These are NTFs, which stand for non-exchangeable code.
Registered in the blockchain
This is a distinct feature that is registered with the blockchain, just like Bitcoin or Ethereum, for example.
NTF differs only in an important part of the cryptovaluata. Where you can exchange bitcoin for another currency and one euro currency has the same value as the other currency, it is different with NTF. It represents a form of digital art, such as a gif, video, or tweet.
In other words, there’s only one tweet from Jack Dorsey.
Painting or painting poster
That the right of ownership can now be traded, Technology website compares The Verge With the difference between having a Monet artwork or a poster for it. Anyone can do the latter, the former is only reserved for one person.
And this person could make a lot of money if he decided to sell Monet. The fact that this is also possible with digital art makes for amazing deals. NTFs for digital artwork sell for millions of dollars, as The Verge describes.
Anyone can do it
The fact that Dorsey has put his first tweet up for sale via Valuables by Cent appears to be a reaction to The Verge article. The author of the article joked that anyone can now try to sell their tweets as NTF.
It is also possible, via the Valuables by Cent website. The buyer will receive a digital certificate of the tweet, signed (digitally again) by the author.
With the purchase, the buyer creates a link between himself and the sender of the tweet, demanding the initiators of the valuables by Cent. This is because NTF is a type of signature on a Tweet. This, in turn, can generate money. Just like autographed baseball photos.