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Jack Dorsey sells first tweet for $2.9m

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(FILES) In this file photo taken on September 05, 2018 CEO of Twitter Jack Dorsey testifies before the Senate Intelligence Committee on Capitol Hill in Washington, DC. – Twitter chief Jack Dorsey backed on January 13, 2021, its ban of US President Donald Trump, but said it sets a “dangerous” precedent and represents a failure to promote healthy conversation on the platform (Photo by Jim WATSON / AFP)

Twitter founder Jack Dorsey’s first ever tweet has been sold for the equivalent of $2.9m (£2.1m) to the head of blockchain service CryptoLand and software firm Bridge Oracle Sina Estavi.

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Dorsey’s first tweet, which reads, “just setting up my twttr,” was posted by Dorsey on March 21, 2006.

The tweet was sold as a non-fungible token (NFT) – a unique digital certificate that states who owns a photo, video or other form of online media.

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Dorsey’s tweet was sold via an auction on an online platform called Valuables, which is owned by the US-based company Cent.

The Twitter co-founder will receive 95% of the proceeds of the primary sale, while Cent receives 5% according to the platform’s rules.

The post will remain publicly available on Twitter even after it has been auctioned off.

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Estavi who bought the tweet compared the purchase to buying a Mona Lisa painting.

“This is not just a tweet,” Estavi, said on Twitter on Monday.

“I think years later people will realize the true value of this tweet, like the Mona Lisa painting.”

Estavi will receive a certificate, digitally signed and verified by Dorsey, as well as the metadata of the original tweet.

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The data will include information such as the time the tweet was posted and its text contents.

Dorsey has converted the sale proceeds to Bitcoin – 50.8751669 BTC ($2,778,292.86) – and donated it to the GiveDirectly Africa fund.

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