The auction for the Non-Fungible Token (NFT), which provides evidence of authority over Jack Dorsey’s “Tweet Genesis”, is closed. Held on Valuables, a platform that allows users to convert their tweets to NFT.
The tweet created by the Ethereum-based Service Cent was “authenticated” by Dorsey, CEO of the social network and payment company Square. Valuables told the auction participants:
The tweet itself will continue to live on Twitter. What you are buying is a digital certificate of the tweet that is unique in that it has been signed and verified by the creator.
The auction winner was Sina Estavi, CEO of Bridge Oracle Protocol, after bidding almost $ 3 million in Ethereum (ETH). Outbid by Justin Sun, the founder of Tron, who bid nearly $ 2 million. Stavi said to Dorsey:
Hey Jack, thank you for accepting my offer and I’m glad that this money is being donated to charity. Let’s bridge the freedom.
Dorsey previously confirmed that the proceeds from the sale of his NFT would be converted to Bitcoin immediately. The funds in BTC are sent to GiveDirectly, a non-profit organization that is responsible for sending money transfers to low-income people.
The organization is involved in a campaign to help mitigate the effects of the COVID-19 pandemic on the continent. Dorsey used a new Ethereum address to complete the transaction, which was conducted through the Kraken crypto exchange.
Through his Twitter handle, Dorsey confirmed that the money had been sent to the organization in question. Estavi responded in a separate tweet:
This is not just a tweet! I think years later, like the Mona Lisa painting, people will see the real value of this tweet
NFTs to Combat Climate Change
The digital artist Mike “beeple” Winkelmann is also using the attention he recently received for a good cause. Beeple is part of The Carbon Drop, an NFT collection auctioned off to solve climate change and created by the Social Alpha Foundation.
Beeple celebrated the high level of participation from the initiatives. The digital artist believes that solving climate change is vital for NFT to have a future. The digital artist said:
We all know that this is absolutely something that we need to solve in order for NFTs to reach their full potential. Fortunately, I know how amazing this community is, so I have no doubt we will.
In a recent interview, Beeple said the wacky NFT might be a bubble but believes the technology will endure and be used in people’s everyday lives. The digital artist claimed:
I don’t think art is being devalued, I think in some cases there is a lot of emphasis on work. I think there is definitely some bubble when NFT toilet paper sells for $ 2,000. That seems kind of ridiculous.