Jack Dorsey’s Twitter Joins NFT Mania, But He Still Wants Nothing to Do With Ethereum
Popular social media platform Twitter is joining the non-fungible token (NFT) mania. However, it is not looking to sell but give them out for free.
Twitter First Social Platform With NFT Interest
The social media giant founded by Jack Dorsey in 2006 said that it would be handing out 140 original NFTs to 140 lucky users for free.
Users can get their hands on these Twitter-tokenized tweets on the popular NFT platform Rarible. There will be 20 sets of seven different NFTs up for grabs putting the total at 140.
The NFTs range from a stone man sending a tweet to GIFs of the company’s popular bird logo. The last is the word “Twitter” dropping on a plate.
NFTs are tokenized representations of real-world assets. These assets can be tangible or intangible. NFTs have boomed since the beginning of the year as more crypto and art enthusiasts have spent millions snapping up tokenized sports cards, virtual real estate, and even digital sneakers.
Although this is the first foray by the popular social media platform into the digital collectibles space, CEO Jack Dorsey has a long history with NFTs.
Dorsey’s first tweet in 2006 was tokenized and sold on NFT platform Valuables by Cent for a reported 1630 ETH (about $2.9 million) in March. He, however, converted the proceeds to Bitcoin before transferring it to an African NGO, GiveDirectly fighting the impact of the global pandemic in the African economy.
Another global figure who has been keen on NFTs ever since they gained widespread adoption is Dallas Mavericks owner Mark Cuban who also sold a tweet for 0.56 ETH, which came up to $953 at the time.
NFTs have grown exponentially since the record sale of 5000 Days by digital artist Beeple for a record $69.3 million on Christie’s.
Dorsey Not Interested In Ethereum
Many NFT enthusiasts have pointed to Twitter’s recent foray into the digital collectibles space as a sign that Dorsey is gradually warming up to Ethereum.
However, the reserved tech entrepreneur has come out to clear the air. In response to a tweet by user @packanimalETH claiming that Dorsey may now be looking at investing in Ethereum, he replied with a curt “No.”
Dorsey is a sworn Bitcoin maximalist and has publicly declared his fascination with the world’s oldest cryptocurrency. In recent times, he has sought to incentivize institutional investors to the inherent benefits Bitcoin offers compared to traditional fiat and even gold.
To this end, he is organizing a Bitcoin-focused conference supported by Cathie Wood’s Ark Investment firm to drum up support for the embattled virtual currency.