Twitter CEO Jack Dorsey to donate $2.5 million from his tweet auction to charity

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IANS: Twitter CEO and billionaire Jack Dorsey who last week announced to sell his very first tweet of March 6, 2006, has said that he will donate the money in Bitcoins to charity.

The highest bid for the tweet, put up for auction as an NFT (non-fungible token) on a platform called Valuables, is currently $2.5 million and there auction will end on March 21.

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“Ending this March 21st. Will immediately convert proceeds to #Bitcoin. And send to @GiveDirectly Africa Response,” Dorsey said in a tweet late on Tuesday.

NFT is a digital good on the Ethereum blockchain.

The very first tweet by Dorsey on March 6, 2006 read: “just setting up my twttr”.

According to Valuables, “What you are purchasing is a digital certificate of the tweet, unique because it has been signed and verified by the creator”.

However, the fact is that this tweet has been publicly available for free for nearly 15 years on the internet.

NFTs allow people to buy and sell ownership of unique digital items and keep track of who owns them using the blockchain.

The artist Grimes recently sold several NFT items for nearly $6 million. An NFT of LeBron James making a historic dunk for the Lakers garnered more than $200,000.

Non-fungible mean you can’t exchange it for another thing of equal value.

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(With inputs from IANS Media)