Non-fungible token (NFT), is a non-interchangeable unit of data stored on a blockchain, a form of digital ledger, that can be sold and traded.
Anything that is digitized, can be stored inside a blockchain, making the item an NFT.
And that anything includes the first-ever tweet on Twitter.
The tweet “just setting up my twttr” that was posted by Twitter founder Jack Dorsey, was originally sold as an NFT to Sina Estavi, the CEO of Malaysian blockchain service Bridge Oracle in 2021 for about $2.9 million.
This time, Estavi is selling it on OpenSea for 14,969 Ether, or around $48 million, which is around 16 times the amount he paid Dorsey for it.
Dorsey’s historic tweet was published back in March 2006.
The former CEO at the time said that he would donate the money he had received from the sale to charity after converting it to Bitcoin.
Dorsey has been a avid supporter of the cryptocurrency, and even called Bitcoin the most seminal works in decades.
It's even reported that the reason Dorsey stepped down as Twitter CEO on November 2021, was to focus on his cryptocurrency ambitions.
Following the opening of the listing, Estavi made another tweet, saying that 50% of proceeds generated from the sale shall be donated to the Give Directly, a charity that helps people living in poverty.
This tweet received a respond from Jack Dorsey.
why not 99% of it?
— jack (@jack) April 7, 2022
"Why not 99% of it?" asked Dorsey, who suggested Estavi to be more generous.
Dorsey directed his response to Estavi, Give Directly, and also Tesla Inc. founder Elon Musk, who just became the largest shareholder of Twitter.
Estavi replied to Dorsey’s idea, stating that he wants to use 50% of the funds for a blockchain project and help his "people."
Regardless, he has given thought to Dorsey’s idea
"If you like, I would donate 100% of it to charity if you let me know," Estavi said.