It was reported that as cryptocurrencies became more mainstream, a cryptocurrency asset called “NFT” (non-fungible token) also became popular. On March 22, Twitter CEO Dorsey issued the first tweet in history as an external transfer of NFT assets, selling a total of 1,630.58 Ether (another popular cryptocurrency) for the price.
Based on the USD price of Ether at the time of the transaction, the transfer price of this tweet is approximately USD 2.9 million. The content of this tweet is “just setting up my twttr” (Chinese meaning “just setting up my Twitter”), and the tweet was published on March 21, 2006. It should be pointed out that Dorsey is one of the co-founders of Twitter. In addition to the CEO of Twitter, he also serves as the CEO of Square, a US payment technology company.
Beginning on March 6 this year, this tweet began to be transferred as an NFT asset. By March 9, the bidder with the highest bid was Sina Estavi, the CEO of the “Bridge Oracle” company. In the end, Estavi became the winner of the asset bid, but the final transaction price was 2.5 times the starting price.
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As we all know, in digital currency, a cryptocurrency needs to rely on the blockchain network behind it, and “non-homogeneous token” assets are somewhat similar to cryptocurrencies, and the holding information of these assets is also recorded in the blockchain network.
However, as the name implies, each NFT asset is unique and unique, so asset holders cannot exchange it for other NFT assets (for example, exchange for any other assets like the U.S. dollar currency). As a collection of the holder, each NFT cannot be copied and has a certain scarcity.
In short, the emergence of NFT allows some digital art products or collectibles to be traded and transferred on the blockchain network as a cryptocurrency asset with no substitutes and whose ownership can be verified.
Although the form of NFT is difficult for many ordinary people to understand, for many artists, musicians, and Internet influencers, NFT assets have brought huge returns. Many investors spend huge sums of money and hope to have some kind of “NFT version” behind the digital asset.
Dorsey stated that he will convert the funds obtained from the transfer of the Tweet NFT into Bitcoin, and then donate the funds to a charity fund called “Give Directly’s Africa Response” (“Give Directly’s Africa Response”).
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