Twitter founder Jack Dorsey said he intends to convert the proceeds from the sale of his first tweet, in the form of a non-fungible token (NFT), into Bitcoin and donate them to charity.
Ending this March 21st
Will immediately convert proceeds to #Bitcoin
And send to @GiveDirectly Africa Response
— jack (@jack) March 9, 2021
The recipient will be the nonprofit GiveDirectly. It helps families living in extreme poverty in East Africa.
The auction on the Ethereum-based platform Valuables, which lets users create, sell and buy tweet-based NFTs, will run until March 21.
At the time of writing, the highest bid for the post with the text \”Just setting up my Twitter\” had reached $2.5 million. It was placed by Bridge Oracle’s chief executive Hakan Estavi.
Earlier $2 million for this NFT was offered by Tron founder Justin Sun.
In late February Beeple’s Trump NFTresold for $6.6 million. In December 2020, the artist earned $582,000 for \”Crossroad\”.
From February 4 to March 4, the trading volume of non-fungible tokens on the 12 largest platforms stood at a record $480 million.
The head of North Island Ventures, Glenn Hutchins, noted that diverse uses of digital assets, as exemplified by NFT tokens, increase their value as such.
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