In a world where monetization of products and services has become popular, there are very few things that don’t have value associated with them. But what about Twitter? Better yet, how about a tweet from Twitter?
That’s right. Tweets have more than viral and social value. They can be lucrative. According to a Bloomberg report, Twitter co-founder Jack Dorsey’s very first tweet is now worth $48 million. This is 16 times more than the original price. The multi-million dollar price tag of the historic tweet is being sold on the non-fungible token market, OpenSea.
Sina Estavi, CEO of Bridge Oracle (a Malaysian blockchain service) has an NFT version of the 16-year-old tweet, announcing that it was on sale for 14,969 Ether (equivalent to $48 million). In March 2021, he paid $2.9 million for the original tweet.
Although NFTs are becoming more and more popular, the selling price of nearly $50 million can be considered quite excessive. For context, the mammoth price is comparable to the price range of famous artworks produced by historical artists like Pablo Picasso and Vincent van Gogh, as reported by CoinMarketCap.
In terms of profit, Estavi will not use the entire profit from the sale for personal gain. He followed up his initial announcement on the sale by promising to donate 50% of profits to GiveDirectly, a non-profit organization that gives money to people living in poverty.
Dorsey supports this initiative associated with the sale but has challenged Estavi to give more. He responded via Twitter asking “why not 99% of it?” Dorsey made Estavi, GiveDirectly and Elon Musk (founder and CEO of Tesla) the target of his donation challenge.
— Estavi (@sinaEstavi) April 6, 2022
Estavi responded to Dorsey noting that he was not interested in using the remaining 50% for himself.
“I don’t want the rest for myself; I would rather use the rest to support blockchain projects (@bridge_oracle) and help my people, but your suggestion is valuable to me. If you want, I would 100% donate it to charity if you let me know,” the Malaysian CEO tweeted.