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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Someone paid 1,500 ETH for Jack Dorsey’s NFT – Compares it to the Mona Lisa

Reynaldo Marquez
Reynaldo Marquez
4 years ago
2 mins read
NFT Ethereum ETH

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The auction for the Non-Fungible Token (NFT) that gives proof of authority over Jack Dorsey’s “Tweet Genesis” has concluded. Held on Valuables, a platform that allows its users to convert their Tweets into NFT.

Created by the Ethereum based service Cent, the tweet has been “authenticated” by Dorsey, CEO of the social network and payment company Square. Valuables told auction participants:

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.

The auction winner was Bridge Oracle Protocol CEO Sina Estavi after bidding nearly $3 million in Ethereum (ETH). Outbidding Justin Sun, founder of Tron, who bid nearly $2 million. Stavi told Dorsey:

Hey Jack, thank you for accepting my offer, and I’m glad this money is being donated to charity…. Let’s Bridge to freedom.

Dorsey previously confirmed that the proceeds from the sale of his NFT would be immediately converted to Bitcoin. The funds in BTC will be sent to GiveDirectly, a non-profit organization that is responsible for sending cash transfers to low-income individuals.

The organization is involved in a campaign to mitigate the effects of the COVID-19 pandemic on the continent. Dorsey used a fresh Ethereum address to conduct the transaction which was conducted via crypto exchange Kraken.

Via his Twitter handle Dorsey confirmed the money has been sent to the referred organization. Estavi responded in a separate tweet:

This is not just a tweet! I think years later people will realize the true value of this tweet, like the Mona Lisa painting

NFTs to fight climate change

Digital artist Mike “beeple” Winkelmann is also using the attention he has recently received for a good cause. Beeple is part of “The Carbon Drop” an NFT collection auctioned to aid solve climate change, created by The Social Alpha Foundation.

Beeple has celebrated the high participation the initiatives have been receiving. The digital artist believes solving climate change is crucial for NFT to have a future, the digital artist said:

we all know, this is absolutely something we MUST solve for NFT’s to realize their full potential. Luckily I know how amazing this community is so I have no doubt we will.

In a recent interview Beeple said the NFT crazed could be a bubble, but believe the technology will endure and have a used in people’s everyday life. The digital artist claimed:

I don’t think art is being devalued, I think in some cases a lot of value is being placed on the work. I think there is definitely, on some level, a bubble when you have NFT of toilet paper selling for $2,000. That seems kind of ridiculous.

Ethereum ETH
Ethereum with negative performance in the 24-hour chart. Source: ETHUSD Tradingview
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Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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