NFTs or Non-Fungible Tokens are getting the attention they seek. Their initial start was slow, and their trajectory was only slightly better understood than the NFT itself. And its presence reached its peak of recognition when his CEO of Twitter, Jack Dorsey, turned his first ever tweet into his NFT. But this is not the end of the story. It starts there. In this article, Kate Miller helps you understand why Jack Dorsey put his girlfriend’s NFT up for auction.
Dorsey’s smiling walk to the bank most likely started as a joke. Not even good English. But that’s not how NFT sees the world. He converted this post to his jpeg and decided to convert it to a digital file. He stored it on the blockchain and put it up for auction as his first ever NFT. The buzz spawned itself, and months later, a tweet matched with Iranian crypto entrepreneur Sina Estavi, who bought her for $2.9 million. I will explain if it is correct. “I think Jack Dorsey wanted to test the power of NFTs, and his timing was perfect. December 2020 was when the buzz around NFTs was at its peak. Develop touches, Dorsey wanted, after all, he’s more of an entrepreneur interested in trying trends than creating them. It must have surprised him. But in spite of that, he moved just a few buttons on his keyboard and had a huge impact on his bank balance. will be even bigger.”
Strange, but even stranger is Estavi’s decision to bid high on humble tweets. According to Kate Miller, “For Estavi, as a businessman, this served two purposes. One was to attract attention and promote his brand. You should have believed that buying an NFT was an investment in a Twitter product that was in high demand, but when it was put up for auction a few months after it was purchased, only 7 people were able to win and the top price was 280. It was $.It was created because the current value of NFTs is about $10 million.”
Will Jack Dorsey’s move to auction his tweets as NFTs be the beginning of a deal the world has never done before? As non-fungible tokens begin to gain real significance in the world For Kate Miller, these are some of the compelling questions the Dorsey move has raised, and only time will help find the answers to them. increase.