People with a lot of time and money on their hands have bid $2.5 million to “buy” Twitter founder Jack Dorsey’s first message on the platform.
The winner of the auction will get a digital certificate allowing them to lay claim to the 2006 tweet, in which Dorsey wrote “just setting up my twttr.”
The battle to buy the tweet is part of the latest digital craze, known as “non-fungible tokens,” or NFTs.
An NFT is created using blockchain technology, the same tech behind digital currencies like Bitcoin. The “non-fungible” part means it’s one-of-a-kind and can’t be replaced.
Dorsey’s tweet will stay where it is on Twitter, even after it is “bought” in the auction.
Collecting tweets, videos and digital art became enormously popular for the deep-pocketed during the pandemic. A 10-second video by digital artist Beeple sold for $6.6 million last week, bringing new attention to the trend.
Owners can display their NFTs in an online gallery.
Dorsey tweeted a link Friday to the online auction being held on the site Valuables. Before he shared the link, the bid price was under $1 million. By Saturday afternoon, the price had jumped to $2.5 million.
Dorsey, 44, is worth an estimated $12.5 billion, according to Forbes. There was no sign the auction was for charity.
In its FAQ section, the Valuables site explains that a tweet purchased continues to live on the social media site, but the purchaser gets a digital certificate of the tweet that’s “unique because it has been signed and verified by the creator.”
NFT enthusiasts are hoping items they purchase will increase in value, but it’s not yet clear if there will be a lasting market for the digital collectibles.