Twitter CEO Jack Dorsey posted his very first tweet for sale on a social platform this weekend. He did this in the form of a unique NFT token, and used the Valuables Ethereum platform for the transaction.
As a result, bids in the auction for the purchase of the legendary tweet reached $ 2.5 million . It turns out that anyone can repeat this procedure and initiate the sale of their own tweets. Naturally, hoping for millions of dollars is simply not worth it, but you can try.
To begin with, let’s remind you that tweets and digital art in general are sold using unique NFT tokens. In fact, these are the same coins on the Ethereum blockchain like ETH, LINK and UNI, but with a slight difference. Unlike the listed cryptocurrencies, NFTs are not fungible, so they are unique by default.
NFT tokens are tied to a specific job – normal or digital – after which trading begins or a transaction simply takes place. Through the use of blockchain, the buyer can know that they are buying the original work for sure. Well, the seller can easily prove that it really belongs to him.
We analyzed the NFT topic in more detail along with the most striking and expensive examples in a separate article. We recommend that you familiarize yourself before proceeding to reading this article.
And although the overall topic of unique tokens does not seem simple, it is quite easy to make an object of sale out of your tweets. Let’s talk about the list of necessary actions. It consists of only three steps.
Step 1: explore the meaning of NFT
The idea behind NFT tokens is that they are digital property. Since virtually all digital data can be copied as many times as you want, it is very difficult to own something on the Internet and transfer that right to someone else. At the same time, NFT is a way of assigning ownership of something digital in a way that can be shared from person to person.
Jack Dorsey’s tweet sale page on Valuables
The concept of NFT is still experimental, so the new trend should be viewed with some degree of skepticism. It is unclear to what extent NFTs are actually considered to be ownership of what they represent. In this area, the development of technology is ahead of the ability of the law to determine the fact of ownership of a certain object. However, everything works well within the blockchain.
On a technical level, with NFT, you keep a small snippet of code that points to an image or any other object somewhere on the internet. Thus, in the case of a tweet, the NFT itself contains the text of the tweet – it is stored on the Matic blockchain – and links to the tweet image that is stored on a centralized server.
Step 2: create an Ethereum MetaMask wallet
MetaMask is a cryptocurrency wallet that resides directly in your internet browser as an extension. You will need it to interact with the Valuables platform and to store the cryptocurrency that you can receive as payment for your tweets. You should download MetaMask only from the official site. It is better not to use the browser extension store here, as there may be fake extension clones created by scammers.
They will try to find out from users their seed phrases – that is, a unique combination of words to access the contents of wallets. Thus, scammers will gain access to coins and steal them. It is also possible with fake software that will send the crypt itself to the addresses of criminals.
MetaMask official website. We strongly recommend that you install the extension only from this source!
Installing MetaMask is fairly straightforward. You need to write down the seed phrase that the program will generate for you, and be sure to save it in a safe place. If you somehow lose access to your wallet, you will need these words to restore your wallet and access your funds.
Restoring a crypto wallet using a seed phrase
Once MetaMask is configured, you can access it by clicking the icon in your browser. To open the wallet, you need to enter your password.
Login window to your MetaMask account
It will be possible to use the application to send Ethereum-based tokens and Ether itself to other addresses, as well as to receive funds to this account. If a user ever wants to sell cryptocurrency for cash, he will need to withdraw these funds to the exchange and exchange them for the chosen currency.
Step 3: Use the Valuables Platform
After installing MetaMask, you need to go to the Valuables website and log in to the system using your Twitter account.
Connecting your Twitter account to Valuables. You must be logged into Twitter in your browser
Valuables is set up in such a way that anyone can bet on any tweet they like, Decrypt reports. This means that as soon as a person connects their wallet to their Twitter account, all of their tweets are automatically put up for sale. People can bet on them immediately, but the owner is not obligated to accept any bets.
If you go to your Valuables profile, you will be able to see any bets placed on any of the tweets. It is likely that there will not be any bets there – especially if the author is not a world celebrity like Elon Musk.
However, the key here is to inform people that the tweets are for sale. In this case, you should find your interesting tweet – for example, with a lot of retweets and likes – and copy the link to it. You can get the link by clicking the «Share» button and «Copy Link to Tweet» or by simply copying the URL at the top of the screen.
My NFT for Sale
Next, you need to paste the link to the tweet into the search bar on the Valuables website. If you post your own tweet, the platform will recognize it and determine that it is yours. She will then provide a button to share the link to that tweet in Valuables.
This tweet is for sale on @cent
– D Kuzyuk (@Moon_Santt) March 9, 2021
Clicking the Share button will display a draft tweet with a link to Valuables. You can then copy this link and share it on Twitter. Anyone who clicks on the link will be directed to a page with the option to bid for your tweet. When the rate is high enough, you can accept it and receive this money into your MetaMask wallet.
We believe that the process of converting tweets to NFT is quite simple and takes a matter of minutes. Thanks to him, you can even monetize your Twitter feed – and this is a prime example of how unique the world is becoming thanks to the use of blockchain. Still, Jack Dorsey hardly thought that someday his first post on a social platform would be valued at $ 2.5 million. However, the price tag for it turned out to be just that.
We are waiting for the opening of new options for using the blockchain and cryptocurrencies. They certainly do not end there.