Saitama Official Explains Why Jack Dorsey Auctioned Wanted NFTs

NFTs or non-fungible tokens got the attention they were looking for. Their initial start was slow, and their trajectory was only slightly better understood than the NFT itself. It is an enigma because it is still in the news. And its presence peaked when Twitter CEO Jack Dorsey turned his very first tweet into an NFT. However, this is not where the story ends. This is where it starts. And in this article, Saitama Official will help us understand what prompted Jack Dorsey to auction off his NFT. It’s very likely that it started out as a joke that left Dorsey smiling as he walked to the bank. His very first tweet, which just started my twitter, is anything but art. It’s not even good English. But that’s not how the NFT world sees it. He decided to turn this message into a jpeg and turn it into a digital file. He then stored it on a blockchain to auction it off as his very first NFT. Buzz generated, and a few months later, the tweet found its way into Iranian crypto entrepreneur Sina Estavi, who bought it for $2.9 million. Saitama Official explains what must have happened to lead to this. He says, I think Jack Dorsey wanted to test the power of NFT. And his timing was perfect. December 2020 was a time when the buzz around NFT was at its peak. NFTs had developed a kind of Midas touch, and Dorsey wanted to measure its power. In the end, he is an entrepreneur who is interested in testing trends rather than creating them. So I’m sure the final offer must have surprised him as much as all of us. But his move still had a huge impact on his bank balance, as he only moved a few buttons on the keyboard. This makes returns even bigger than they already are. Strange as it may sound, what’s stranger is Estavi’s decision to bid so high for a humble tweet.

According to Saitama Official, Estavi had two goals with this as a businessman – one to get noticed and build awareness for his brand and second, he should have believed that buying the NFT like investing in a Twitter product that would increase in demand and price over time. However, when he put it up for auction a few months after buying it, he was very disappointed, with only 7 people bidding and the highest being $280. But he backed out, and it was perhaps the best decision he made since the current value of the NFT is around $10 million.

Is Jack Dorsey’s decision to auction off his tweet as an NFT the start of deals the world has never engaged in before? As non-fungible tokens begin to gain real prominence in the world, does it redefine what money means and how it is used. For Saitama Official, these are some of the burning questions that Dorsey’s move has raised, and only time will help us find answers to them.

Media Contact
Owner (private): Manpreet Kohli
Company: Saitama Technology LLC
Location: Dubai, United Arab Emirates
Email: [email protected]

Presented by: DN NEWS DESK

Comments are closed.