In March 2021 the co-founder of Twitter, Jack Dorsey, decided to auction his first tweet at $2.9 million, his initiative to tokenize a version of his first tweet attracted a lot of attention since in recent times the NFT boom is taking more power in cryptographic technology “Just setting up my twttr”, reads the tweet published in March 2006, which will be sold in the form of NFT. Today the social network twitter announces on its official account the launch of its own collection of 140 NFTs with a message “140 free NFTs for 140 of you, besties.”
The probable reason for the number 140 relates to the number of characters that users are allowed to tweet. It consists of a set of seven NFTs, with 20 available in each design, the ones that have been released by NFT, Rarible, this includes works of art that are owned or created by Twitter. The social media platform shared a series of tweets with several different images featuring the Twitter logo.
Among the initial pieces published in the collectibles market, the work called “Reply Guy” stands out, which represents someone who always gives the same answer, and one of his copies was sold for 70 ETH, equivalent to $150,000. While the piece called “Rare Form” is sold for 75 ETH and already has a buyer. An NFT named “Furry Twitter” displays a furry three-dimensional version of the Twitter logo.
Among the NFT collection there are three works which are not available for sale and totaling 60 copies. The works are named “First Born”, which features the first tweet from Twitter CEO Jack Dorsey, another called “twttr jggl”, and “Vitamin T”.
140 free NFTs for 140 of you, besties pic.twitter.com/0Pm0tNhIRg— Twitter (@Twitter) June 30, 2021
Under the terms of Twitter, which are governed by California State law, the owner of the NFT may display the artwork for their own personal, non-commercial purposes. But beyond that, Twitter retains the right and title to the artwork.
Twitter joins an ever-growing list of brands, celebrities, and companies minting tokens and auctioning them off. Last week, musician and businessman Jay-Z staged his first NFT sale at Sotheby’s auction house and posted a CryptoPunk NFT as his Twitter profile photo.
Rarible also announced last week that it had raised fresh capital to hire new employees and launch an additional market on the Flow blockchain, home to Dapper Labs’ smash hit NBA Top Shot. Rarible has seen a significant increase in business activity alongside the NFT boom that has taken place since the beginning of this year.
The NFT craze seems to continue to grow and is still a great initiative to commemorate historic moments in sports, music, art, and more. The digital native generation appears to be finding value in collectibles like NFTs, which correlates with their appetite for investing in cryptocurrencies. This is also undoubtedly important as it benefits traditional art to continue expanding into the digital realm.