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Jack Dorsey to donate proceeds from Tweet NFT to Charity

Jack Dorsey to donate proceeds from Tweet NFT to Charity
Twitter CEO Jack Dorsey (File Photo | PTI)

Twitter’s CEO Jack Dorsey seems to capitalize on the NFT hype that has been on the prominent front recently. Dorsey decided to convert his first Twitter tweet, dated back to March 2006, to an NFT collectible. Twitter CEO announces that he will convert the proceeds from the NFT auction of his first tweet from 2006 to Bitcoin. He will then donate it to charity, more precisely to “GiveDirectly’s Africa Response project.” The charity strives to offer financial relief to families in Kenya, Rwanda, Liberia, and Malawi.

Dorsey put up his famous first tweet as an NFT (“non-fungible token”) on Friday evening. Bidding battles quickly followed. Currently, the highest offer for the tweet “just setting up my twttr” is contesting for $2.5 million. The winner will receive a “digital certificate of the tweet,” as per an FAQ on the NFT auction site Valuables, where Dorsey’s tweet is also available. The tweet will, however, be viewable on the internet for free except otherwise deleted. Dorsey’s statement that the proceeds would go to Bitcoin comes as an add on top of the NFT surge. 

NFT Hype attracts various investors

It seems that NFT has recently managed to draw the attention of various investors with a sharp eye on DOGE. After Mark Cuban made his Mav’s store announcement, shills have been promoting their favorites around the clock. Dogecoin has increased by approximately 19% in the last 48 hours. With Tesla’s CEO Elon Musk and Mark Cuban supporting it, the future is very bright for Dogecoin. Another fast gainer, Chiliz is trading over 100% higher at $0.27. Last week it surged about 363.8%. Chiliz reached the billion-dollar crypto club with the surge at a market cap of $1.49 billion at the time of this publication.

Moreover, the NFT boom has also witnessed a lot of activity from Canadian musician Grimes, actress Lindsay Lohan, Taco Bell, even the obscure artist Banksy. Lately, a blockchain company purchased a Banksy art piece worth $95,000. Injective protocol digitized the Banksy painting. The process included burning the painting to develop then a digital representation of the art employing blockchain technology. 

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