Jack Dorsey, co-founder and CEO of Twitter has put his first tweet up for auction via Cent Valuables, in order to turn it into a Non-fungible tokens (NFT), with which so far it would have already obtained offers of up to US $ 2.5 million, however, the auction will still remain in effect until March 21 of this year, and the proceeds will be donated to the Africa Response fund Give Directly for the relief of Covid-19, according to what was reported by The Verge.
In this regard, it is pertinent to explain a little what is understood by NFT, and that is that through these a digital content can be transformed into something unique that can be owned, which allows its owner to sell and distribute it to their Will. However, applied to this case, once the auction is over, Dorsey will transfer ownership of the tweet of its authorship through a certificate of ownership granted by the Valuables platform, which will be signed and verified by Dorsey. Likewise, the digital certificate will contain the metadata associated with the tweet, such as the date and time of publication of the tweet, according to the information provided by Cent.
For this mechanism to work, Cent's Valuables platform operates with the Ethereum blockchain, which allows its users to place the URL of the tweet that belongs to them and this in turn can be uploaded to the Ethereum blockchain . Once this is done, the user can place the item in auctions so that other users can present their offers valued in US dollars. However, they can be paid through ETH, the platform receiving a commission for each transaction carried out on it.