Twitter CEO, Jack Dorsey, recently turned his first ever tweet into an NFT. It’s on sale for millions of dollars and you can do it too. Here’s how. But also, please don’t.
What’s Jack doing with his first tweet?
“just setting up my twttr,” Dorsey said back in 2006.
Now that tweet has come back to haunt us all in the form of an NFT, or non-fungible token.
This is a unique digital object that exists on the blockchain, just like cryptocurrency.
What differentiates NFTs is that they’re one of a kind, whereas crypto (like Bitcoin or Ethereum) can’t be distinguished from one another.
NFTs have been in the news recently thanks to the growing popularity of NFT art.
And now @jack is getting in on the action.
just setting up my twttr
— jack (@jack) March 21, 2006
The Twitter CEO included a link to an auction on Valuables where people can bid on the NFT version of his first ever tweet.
But what exactly does the winner get?
“The tweet itself will continue to live on Twitter. What you are purchasing is a digital certificate of the tweet, unique because it has been signed and verified by the creator,” Valuables says.
“This autographed digital certificate will only be issued once on Valuables. It is signed using cryptography, and includes metadata of the original tweet like: when the tweet was posted, what the text contents are of the tweet, the timestamp of the tweet, and the digital signature from the creator’s crypto wallet address.”
At the time of writing the bid is sitting at $US2.5 million, or $3.2 million.
How to NFT tweets
If you were wondering whether you can turn your own tweets into an NFT, sadly yes.
That means you too can contribute to the intense environmental impact that crypto has for the sake of the lolz.
Just for some context, University of Cambridge analysis suggests that Bitcoin alone (and that’s just one of make cryptocurrencies) uses over 126 terawatt-hours (TWh) of energy per year. That’s more than some countries.
If you’re still wanting to push ahead with this, there are a few ways to NFT digital stuff. One is Mintable, which lets you transform anything from music to art to domains into an NFT item.
But for tweets specifically, the easier way is to take the jack Dorsey route and using Valuables by Cent. It’s alarmingly fast to do.
- Create an account
- Connect the MetaMask crypto wallet to your account. This can even be done as a plugin in your browser
- From there, copy and paste in the tweet you want to NFT and sell
- Valuable will ask if it’s your tweet and you’ll need to connect the two accounts
- You’ll also get the option to tweet out the sales link:
Please don't buy it oh god this is for a story
— Tegan Jones (@Tegan_Writes) March 8, 2021
- If it’s not your tweet, Valuable will ask if you want to buy it
Once your tweet is on sale, people can make offers. It’s not until you actually accept an offer that the tweet is minted on the blockchain as your one-of-a-kind autographed version.
It’s also possible for people to make a counter-offer, which is why someone can still outbid the current front-runner for Dorsey’s first tweet.
It’s worth noting that if you do want to buy a tweet in this way you’re going to be charged a gas fee (not to mention transaction fees if you have to swap between wallets).
This is basically the cost to perform a transaction on the network. Much like regular petrol this price goes up and down.
I discovered this after a friend tried to buy my tweet as a joke, for the princely sum of $1.69 (hurr) and a $10 gas fee got added on top.
Another very mature mate also tried to buy it for 1.337.
Considering the aforementioned environmental impact of crypto, I’m a bit of a fan of the gas fee, at least in this context.
It hopefully makes people think twice before doing dumb stuff with low quantities of crypto for a joke.
In this case, buying a tweet of my arse for $1.69. It’s funny at that price, but $11.69? That’s not worth it for a bit.