Twitter CEO's 'NFT Tweet' Sold for 3.3 Billion KRW

Virtual Asset Art Exchange TakungArt Stock Price Surges 115%

Jack Dorsey, CEO of Twitter
Photo by Reuters

[Asia Economy Reporter Kim Suhwan] Jack Dorsey, CEO of Twitter, sold his tweet created in the form of an NFT (Non-Fungible Token) for about 3.3 billion KRW. Following this news, related stocks such as NFT exchanges surged up to 115%.

According to CNBC on the 22nd (local time), the first NFT tweet auctioned by CEO Dorsey on the 6th was finally sold for $2.9 million (3.27 billion KRW) on the same day. The tweet contained the message "just setting up my twttr."

This tweet was traded on Valuable, an NFT asset trading platform of Cent, a social networking service (SNS) utilizing blockchain technology. Sina Estavi, CEO of Bridge Oracle, a Malaysian blockchain company that purchased Dorsey’s tweet, said, "By participating in this NFT tweet auction, we wanted to emphasize the importance of NFT technology in the world of blockchain."

NFT is a digital asset applying blockchain technology like Bitcoin, assigning unique identification values to each digital product such as paintings, tweets, videos, and images. Through this, individuals hold ownership rights to digital products. Although NFT assets can be copied on the internet, ownership of the original cannot be copied, giving them the characteristic of scarcity.

As blockchain technology advances and NFTs gain attention as the future technology of digital assets, the craze for NFT asset trading is spreading. Earlier, Elon Musk, CEO of Tesla, announced on the 16th that he would auction an NFT song through the Valuable platform, attracting many participants and driving the price up to $1.12 million (1.263 billion KRW).

With celebrities joining the NFT asset trading ranks, there are expectations that this digital asset will emerge as a key investment asset in the future. Dennis Dick, senior market trader at Bright Trading, said, "The hottest issue being discussed on Wall Street these days is NFT," adding, "There is a sentiment among investors that those who do not participate in this craze will be left behind."

Following the news of CEO Dorsey’s tweet auction, related stocks such as NFT asset exchanges also surged. Takung Art, an NFT painting exchange, recorded $49, up 115% from the previous day ($26), including after-hours trading. Additionally, Oriental Culture, an NFT collectibles exchange, closed the day at $14, up 24% from the previous day ($10).

This content was produced with the assistance of AI translation services.