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Twitter TWTR, -4.24% CEO Jack Dorsey is selling his first tweet.
“Just setting up my twttr,” the tweet from March 2006 reads.
Dorsey, who is the CEO of both Twitter and Square SQ, -5.70%, is selling the tweet as a non-fungible token (NFT).
An NFT is a verifiable digital asset that runs on blockchain technology. NFTs are not exchangeable like currencies — they are unique and can’t be replicated. Traditional currencies are fungible, meaning they are interchangeable and can be divided into smaller fractions.
NFTs use blockchain, the technology ledger used with cryptocurrencies like bitcoin BTCUSD, +1.63% and ethereum ETHUSD, +4.92%, which are databases of linked information to record ownership or transactions of a product. While NFTs use blockchain, they are not currencies and should be treated like rare trading cards instead of money.
According to Valuable By Cent, a tweets marketplace that recently launched, the winner of the auction for Dorsey’s tweet will receive “a digital certificate of the tweet, unique because it has been signed and verified by the creator.”
The auction winner will also get the metadata of the original tweet including “when the tweet was posted, what the text contents are of the tweet, the timestamp of the tweet, and the digital signature from the creator’s crypto wallet address. “
The listing, which has been up since December, has a current highest bid of $2.5 million. Dorsey tweeted a link to the listing on Friday.
Non-fungible tokens have exploded in popularity in recent months people have spend hundreds of millions of dollars on digital assets like NBA Top Shot and other digital art.
