Selling Social Media Posts for $1.5 Million? Blockchain-Certified Tweet Sales Spark NFT Controversy – Bitcoin News

The cryptocurrency community is in a tizzy this weekend after the founder of Twitter, Jack Dorsey, tweeted about a new application that allows people to purchase tweets with ethereum. The application is called Valuables and it allows individuals to purchase a digital certificate of the tweet, which is signed and verified by the tweet’s creator.

Tokenized Tweets for Sale

Tokenization and non-fungible token (NFT) asset industry have swelled during the last six months and a great number of artists, celebrities, and social luminaries have jumped on the bandwagon.

There have been 5,368,992 NFT sales equating to $381 million in sales to-date since nonfungible.com started tallying up the market history. Now a project called Valuables or the Web3 compatible web portal v.cent.co is attempting to make tweets valuable by tokenizing them via the Matic blockchain. But there is a lot of controversy over whether or not tweets can be valued and stored in a meaningful way on a blockchain.

On March 5, 2021, Jack Dorsey the founder of Twitter and Square Inc., tweeted about the project with a tweet that he is selling.

At the time of publication, the founder of the Tron blockchain, Justin Sun, has bid $1 million dollars for a tweet Dorsey created back in 2006. The CEO at Bridge Oracle, Hakan Estavi, outbid Justin Sun and is now offering $1.5 million in ether for the tweet. The two have been going back and forth in a bidding war for the Dorsey tweet being sold on Valuables.

Selling Social Media Posts for $1.5 Million? Blockchain-Certified Tweet Sales Spark NFT Controversy
At the time of publication, the CEO at Bridge Oracle, Hakan Estavi has bid $1.5 million worth of ether toward Jack Dorsey’s tweet. He has outbid, the founder of Tron, Justin Sun’s last bid at $1 million for the tweet from 2006.

The tweet from 15 years ago is when Dorsey wrote “just setting up my twttr.” With the Valuables program, Dorsey certified his tweet from 2006 and people can offer to buy the digital…

Read More