The simple tweet has received auction bids of up to US $2.5 million or around N952,537,500 in naira. These tweets will be sold as a Non-fungible token (NFT), a kind of digital certificate that identifies the owner of virtual objects. The buyer will then receive the NFT certificate which has been signed and verified by Dorsey. The metadata from the original tweet will also belong to the buyer. However, these tweets can still be accessed by the public even though they have been purchased at a high price. CNBC reported that the ownership of this NFT is also recorded in the blockchain, a digital network that also supports cryptocurrencies.
— jack (@jack) March 21, 2006 The difference is, NFT assets cannot be exchanged with one another, so it becomes an item that cannot be duplicated and makes it super rare. The highest bidder in Jack Dorsey’s tweet auction was the CEO of Bridge Oracle, Sina Estavi, who bid up to US $2.5 million. Crypto items have recently become popular as collectables. For example, a digital rendition of a Nyan Cat meme from 2011 has sold for up to N228 million naira. Even so, several internet users do not understand the benefit of buying that one tweet that cannot be fully owned. Will you purchase a tweet for such an amount? Do share your thoughts in the comment box below.
