The tweet was presented as a non-exchangeable token (NFT) – a type of unique digital asset that has spread hugely so far in 2021.
The tweet was sold through an auction via a platform called Valuables, which is owned by the US-based company Cent.
(Cameron Hegazy) confirmed Cameron HejaziCent, CEO and co-founder, said it was purchased for 1,630 grains of the cryptocurrency Ethereum, which was valued at $ 2,915,835 at the time of the sale.
Cent confirmed that the buyer is Sina Estavi, and his Twitter file says he resides in Malaysia and is the CEO of the blockchain company, Bridge Oracle.
On March 6, Dorsey, a Bitcoin enthusiast, tweeted a link to the website where the tweet was listed for sale.
In another tweet on March 9, he said: It is converting the proceeds from the auction into Bitcoin and donating it to GiveDirectly for Africa’s response. For people affected by Coronavirus in Africa.
GiveDirectly is a charitable organization that provides funds directly to people living in poverty.
Dorsey receives 95 percent of the proceeds from the initial sale, while Cent receives 5 percent of the proceeds of the initial sale.
The Cent CEO said his platform allows people to show support for a Tweet beyond the current options for like, comment, and retweet.
Hegazy said: The value of these assets may increase, and their value may decrease, but what remains is the ledger and the date of purchase, and that remains in the memory of both the buyer, the seller and the public., Adding that this is inherently valuable.
Cent auction winners receive a digital certificate to tweet with the purchase, which is unique in that it has been signed and verified by the creator.
– jack (@jack) March 22, 2021