Tron’s CEO, Justin Sun, has expressed interest in purchasing Jack Dorsey’s first tweet for half a million dollars. The bird app CEO is rumored to sell his tweet as a non-fungible token (NFT). Jack has put his first published tweet of 2006 as a non-fungible token on the valuables platform owned by cent – a service platform built on the Ethereum blockchain.
More Bids Are Flooding in, With Justin Sun Offering Half a Million Dollars
While there have been previous such as bids of $88K and $267K to purchase Jack Dorsey’s first tweet, “just setting up my twttr”, Justin Sun‘s newest offer trumps them all. The Tron founder and CEO made his tweet a few minutes ago through a reply to Jack’s first tweet.
Justin Sun tweet. Source: Twitter
While the bids keep pouring in, the eventual winner will get an autographed version of Dorsey’s tweet. The question is, is the Tron CEO’s bid some form of reward to Jack by Justin? Some tech analysts believe that Jack was helping Justin to promote his Twitter account through the platform’s suggestion feature despite massive backlash from Twitter followers and other social media analysts. Their analysis was based on Justin’s “brash” sales strategy and his hostile takeover of Steemit at that time.
While there may be unofficial alliances, it isn’t likely that Justin’s action is any form of payback. But who knows?
What’s The Use of NFTs?
Cent, a service built on the Ethereum blockchain protocol, allows users on the bird app to buy and sell tweets through non-fungible tokens. NFT tokens denote unique objects on the Ethereum network. While cryptocurrencies, such as LTC, ETH, and BTC, are exchangeable, tokens are not.
Valuable’s FAQ page shows that all minted tweets will remain live on Twitter. However, the tweet’s new owner will receive a signed digital certificate. That certificate will be cryptographically signed and will contain the original tweet’s metadata. The metadata will contain the tweet’s post time, text, and the original owner’s digital signature, which he would have signed using his digital wallet address.
Lane 8’s New Album Won’t Be Released as an NFT
Famous electronic music producer, DJ, and US-based musician, Daniel Goldstein, professionally called Lane 8 has revealed that he won’t be releasing his brightest lights album as an NFT.
Lane 8 announcement. Source: Twitter
Changes in Social Media Are Now Inevitable with NFTs and Crypto
The bird app’s decision to sell his first-ever tweet has given Binance CEO Changpeng Zhao (or CZ for short) optimism about expectations regarding NFTs soon. CZ said that social media and content platforms would never be the same again following the adoption of crypto and NFTs.
Here’s his post, “@Jack is revolutionizing monetization models. This #NFT model is much improved than ads, tracking users, and other similar models. There will be fundamental changes to social media henceforth through #crypto. If the top players don’t adopt/adapt fast, some ‘flippenings’ will happen.” Binance remains the topmost cryptocurrency exchange all over the world based on trading volume.