The buyer of Twitter’s first ever tweet by its founder Jack Dorsey for $2.9m (£2.1m) sees it as a wise investment.
“It’s a piece of human history in the form of a digital asset. Who knows what will be the price of the first tweet of human history 50 years from now,” Malaysia-based Sina Estavi said.
Mr Estavi compared his newly-acquired tweet to Leonardo da Vinci’s Mona Lisa.
Experts agree that the first tweet from the Twitter founder on his own platform is a highly valuable asset.
Jack Dorsey’s tweet, which said “just setting up my twttr,” was first published on 21 March 2006 and was auctioned off by Mr Dorsey for Give Directly’s Africa Response charity.
Mr Estavi, the chief executive of cryptocurrency firm Bridge Oracle, bought the tweet using ether, a rival currency to bitcoin.
It was sold as a non-fungible token (NFT), a unique digital certificate that states who owns a photo, video or other form of online media.
NFTs have become hugely popular this year, with expensive digital artwork also being sold this way.
“I believe it’s an emerging market and it’s just the beginning. All forms of digital arts and creations such as music, photos, videos, tweets and blog posts can be traded in the form of an NFT,” Mr Estavi, a 29-year-old Malaysian national told the BBC.
He added that his investors and colleagues “are really appreciative and happy about this investment because they know the value and future price of this particular NFT and the impact it made on social media.”
While the price paid for the tweet raised a few eyebrows, experts believe it could be a shrewd investment.
“A way to explain it is that owning this first tweet can be viewed in the future almost like the first edition of a rare book,” said Cathy Hackl, a social media expert.
“Twitter ushered in a new era of communication and this tweet launched it.”
Mr Dorsey’s tweet was sold via an online platform called Valuables, owned by US-based company Cent.
Cameron Hejazi, co-founder of Cent, said this was the highest valued asset sold on the platform so far.
“I was shocked but not surprised – the value of these assets is highly subjective. Plus we are happy the money is going to such a good cause,” he told the BBC.
The NFT market is now worth $1bn and uses the same blockchain technology that underpins digital currencies such as bitcoin to establish ownership and authentication.
However, it’s still early days to determine precisely how buyers will value other online social media posts.
Social media history
“To be able to capture the first tweet, of the person who invented this, makes it very important memorabilia,” said Nanne Dekking, the founder of Artory, which records artworks on blockchain technology.
Others think some of Donald Trump’s controversial tweets as US president might make for future investment targets.
As the buyer, Mr Estavi will receive a certificate, digitally signed and verified by Mr Dorsey,
“If that person is a crypto investor, it makes even more sense as they will find a way to make the investment work for them,” added Ms Hackl.
While Mr Estavi owns the Dorsey tweet, anyone with internet access can see and read it.
Twitter likely to roll out ‘Reactions’ feature soon
After unveiling several features this year, micro-blogging site Twitter is reportedly readying new features, including Reactions, Downvotes and Sorted Replies for iOS users.
According to reverse engineer Nima Owji, the Reactions feature, which started being tested a couple of months ago, is set to launch soon, reports 9To5Mac.
With four new reactions, “tears of joy,” “thinking face,” “clapping hands” and “crying face,” this feature is designed to give users the ability to better show how conversations make them feel and to give users “a better understanding of how their Tweets are received”.
Citing the reverse engineer, the report also mentioned that the micro-blogging site is now able to store data about the downvotes feature, which is another indicator that this function will be released sooner rather than later.
The report also notes that the company changed the downvote position as well. It has even added a new tab explaining how downvotes work.
This month, the company has rolled out its in-app tipping feature to all Android users above the age of 18, following the iOS launch in September.
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Tesla shares have fallen 10% since Musk conducted a Tweet poll about the sale. They dropped more than 17% within the first few days following the Nov.
Twitter Investigating Bug Causing Unexpected Logouts on iOS 15
Posts on Twitter over the last several hours have shown users experiencing the bug, with some sharing frustrations that the app is requiring them to log back into Twitter upon every app launch. While some of the reports lack the specificity that the bug is happening on iOS devices, it seems likely to be the case following the acknowledgment from Twitter itself.
WHY IS TWITTER LOGGING ME OUT OF ALL OF MY ACCS???? I HAVE 8 TWITTER ACCS AND DO YOU KNOW HOW HAED TO LOG IN ALL OF THEM???????? IVE BEEN DOING IT 2 TIME ALREADY SINCE OCTOBER
— kyle (@leeknowonIyfans) November 24, 2021
I almost got a heart attack when I tried to get in my Twitter and it wanted me to log in?? I never logged out 😭😩😭
— Enny Does It All❤ (@Queen_Enny19) November 24, 2021
Users impacted by the bug are advised to ensure they’re running the latest Twitter version from the App Store and monitor the company’s support account for updates.
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