In brief:
The founder and CEO of Tron, Justin Sun, has just bid half a million dollars for Jack Dorsey’s
first tweet on the social media platform. Mr. Sun made public his intention of buying Jack’s tweet for $0.5 million via the following tweet.Mr. Dorsey listed the tweet for sale on the Ethereum based Valuables NFT marketplace earlier today and Justin Sun’s is the highest bid thus far as seen in the following screenshot
from the said marketplace.According to the Valuables FAQ’s page, the Tweet will continue to live on Twitter. The new owner of the Tweet will now have a digital certificate of it signed using cryptography and includes metadata of the original tweet. Such metadata includes when the tweet was posted, the text contents of the tweet, the timestamp and the digital signature from the creator’s digital wallet address.
The CEO of Binance, CZ, was particularly optimistic about the future of NFTs based on Jack Dorsey’s decision to mint his first Tweet on the blockchain. According to CZ, crypto and NFTs will fundamentally change social media and content platforms. He explained this concept as follows.
The #NFT monetization model for content platforms that @jack is pioneering now is MUCH MUCH better than ads, tracking users, etc.
#Crypto is going to fundamentally change social media now. Expecting a few flippenings if the top players don’t adapt/adopt quickly.