TL;DR Breakdown
- Songwriter Soulja Boy sells tweets as NFT tokens.
- According to stats, the total market cap for NFT content creators is now over $188m.
- The NFT space is expected to grow as more investors strive to buy tweets from influential Twitter users.
Celebrity status, blockchain inalterability, and the allure of digital assets in the form of NFT tokens merged into one as U.S hip-hop artist, Soulja Boy auctioned some of his tweets off for a few thousand dollars. It started at exactly 5 PM on the 7th of March, when the popular rapper sent a tweet asking his followers: how do I sell my tweets?
The question was taken as a subtle reference to NFT tokens, considering the increasing hype the blockchain assets class has received from different quarters, as well as the rapper’s stated involvement with cryptocurrencies. A few moments later, the same tweet was autographed and sold at crypto tweets marketplace, Vincent for about $1, 288, equivalent to 0.07475 ETH. The transaction can be confirmed on the Ethereum blockchain, showing how the exchange took place.
Soulja Boy, the first rapper but not the FIRST to sell personally branded NFTs
Digital collectibles have been on sale since 2017 at the peak of the then crypto bull run when Cryptokitties sold digitally represented cats worth over half a million dollars. The participation was so strong that it got the host-network, Ethereum, congested for users. And while $1,288 seems so outlandish for a mere tweet, it is actually reminiscent of the popular Bitcoin pizza story when compared to how much other notable Twitter users have sold theirs.
There are more popular personalities out there than Soulja Boy whose tweets would certainly be considered much more valuable.
Notably, the CEO of Twitter, Jack Dorsey enlisted his first-ever Twitter post for sale just a few days back. The tweet which goes as far back as March 2006 with the short text “just setting up my twttr”, created a strong bidding challenge. The tweet finally got sold for as high as $2.5m. Other famous personalities known to be riding the NFT spaceship are Steve Aoki (American DJ), Lindsay Lohan (actress), and Mark Cuban (the billionaire investor). Although the NFT market is still young, there have been over $188million worth of transactions.
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