The NFT market has been attracting lots of attention as much digital content is being sold for millions of dollars. Jack Dorsey, the CEO of Twitter, has finally auctioned-off the first-ever published post on the social media platform for nearly $3 million as a non-fungible token (NFT). The tweet, which reads “just setting up my twttr,” was published back in 2006.
Jack Dorsey to Donate the Proceeds to Charity
As Jack Dorsey tweeted on Monday, the NFT tweet was sold for $2.9 million to “@sinaEstavi,” the CEO of Bridge Oracle. Dorsey minted the tweet as a non-fungible token through the Ethereum-based NFT platform dubbed Cent. As of March 9, he noted that all the proceeds from the NFT auction will be converted to Bitcoin (BTC), and donated to GiveDirectly, a non-profit organization focused on helping the less-privileged families in several countries in Africa.
Jack Dorsey transferred the funds to the nonprofit, as stated.
It’s worth noting that Dorsey is among the prominent figures that have committed greatly to helping developing nations, especially in Africa. In a separate development, he recently teamed with Jay-Z to also sponsor Bitcoin developers in different countries in Africa and also India.
The Boom in the NFT Market
The traction in the NFT market has increased significantly since the beginning of this year. Many people are joining the NFT frenzy to issue and sell digital content, including musicians. Recently, a female American rapper, Rico Nasty, announced her intention to issue the artworks from her OHFR? Music as non-fungible tokens.
An art collection from a popular digital artist, Beeple, was recently auctioned-off for over $60 million, which is the highest NFT ever sold.