In the early morning of March 23, Beijing time, it was reported that as cryptocurrencies, became more mainstream,
Cryptocurrency asset called “NFT” (non-fungible token) also began to become popular.
What is NFT, non fungible token?
On March 22, Twitter CEO Dorsey issued the first tweet, in history as an external transfer of NFT assets, selling a total of 1,630.58 Ether (another popular cryptocurrency) for the price.
Based on the USD price, of Ether at the time of the transaction, the transfer price of this tweet is approximately USD 2.9 million.
The content of this tweet is “just setting up my twttr” (Chinese meaning “just setting up my twttr”), and the tweet was published on March 21, 2006.
It should be pointed out that Dorsey, is one of the co-founders of Twitter.
In addition to the CEO of Twitter, he also served as the CEO of Square, a US payment technology company.
Beginning on March 6 this year, this tweet began to be transferred as an NFT asset.
By March 9, the highest bidder was Sina Estavi, the CEO of “Bridge Oracle”.
In the end, Estavi became the winner of the asset bid, but the final transaction price was 2.5 times the starting price.
As we all know, in digital currency, cryptocurrency needs to rely on the blockchain, network, behind it, and “non-homogeneous token” assets are somewhat similar to cryptocurrencies,
and the holding information, of these assets is also recorded in the blockchain network.
However, as the name suggests, each NFT asset is unique and unique,
It Could change in Dollars?
So asset holders cannot exchange it for other NFT assets, (such as exchange for any other assets like the US dollar currency).
As a collection of the holder, each NFT cannot be copied and has a certain scarcity.
In short, the emergence of NFT allows some digital art products or collectibles, as a kind of encrypted currency assets,
with no substitutes and whose ownership can be verified, to be traded and transferred on the blockchain network.
Difficult to Understand,
Although the form of NFT is difficult to understand for many ordinary people,
for many artists, musicians, and Internet influencers,
NFT assets have brought huge returns. Many investors spend huge sums of money,
and hope to have some kind of The “NFT version” behind the digital asset.
Dorsey stated that he will convert the funds obtained from the transfer of the Tweet NFT into Bitcoin, and then donate the funds to a charity.
fund called “Give Directly’s Africa Response” (“Give Directly’s Africa Response”).