The NFT craze that has really gotten cranking over the last couple of months, thanks to the NBA Top Shots phenomenon, has officially made its way to the tweet market as Twitter founder Jack Dorsey put his first tweet up for auction. His tweet, “just setting up my twttr” has a bid of $2.5 million.
According to TheVerge.com, Dorsey will donate the bitcoin associated with the sale to charity. There’s a good chance your head is spinning, and you don’t understand what an NFT is. Verge’s definition is: “NFTs allow you to buy and sell ownership of unique digital items and keep track of who owns them using the blockchain. NFT stands for ‘non-fungible token,’ and it can technically contain anything digital, including drawings, animated GIFs, songs, or items in video games. An NFT can either be one-of-a-kind, like a real-life painting, or one copy of many, like trading cards, but the blockchain keeps track of who has ownership of the file.”
Digital ownership is now all the rage, and it made me wonder what OutKick founder Clay Travis could get for his legendary first tweet: “I swear to god if this thing makes my porn load slower I am going to be so pissed.”
Is it worth $100? $5,000? $50,000? More?
I swear to god if this thing makes my porn load slower I am going to be so pissed.
The Wall Street Journal reported Tuesday on the “Whales of NBA Top Shots,” collectors of video clips sold as NFTs who were early and are now sitting on million-dollar empires built on collections of LeBron highlights. Others bought low — RJ Barrett highlights — in the $1 to $2 range, but are still coming up big. One collector featured by the WSJ has 96 copies of the same Barrett highlight that have sold for $4,000 each in the last week.
During a single week in February, Top Shot saw $46 million in sales. For the time being, it’s a runaway success, and crypto shows no sign of slowing down as people move into collecting more and more digital items.
Will first tweets be the next NFT craze, thanks to Dorsey jumping into the mix? Before you laugh at all this, consider a 10-second video artwork clip purchased by a Miami art dealer named Pablo Rodriguez-Fraile for $67,000 in October was sold in late February for $6.6 million.
Now let’s see how Clay handles this situation. Will he make his first tweet a 1/1 to drive up the price? Will he make multiple copies available? We need him to address his strategy, and then let the bidding begin. Let’s get crazy around here.
I’m no NFT expert, but even his second-ever tweet should have some value on the auction block:
The fact that I signed up for Twitter at the exact moment Michael Jackson died is ominous. Jonathan Crompton is going to be pissed.