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NFT of first tweet? Why is this valuable and not another case of Tulip Mania?

Boom for OVR NFTs: 5,000 OVRLand sold every day

I gather that Jack Dorsey sold an NFT of his first tweet for $2.5 million.

I can’t wrap my mind around why this is valuable to anyone… can you help me?

It feels much more like a Tulip Mania, [https://en.wikipedia.org/wiki/Tulip_mania](https://en.wikipedia.org/wiki/Tulip_mania), than an actual worthwhile investment to my smooth brain.

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12 Comments

  1. How do we know there isn’t an offsetting off the books transaction for these kinds of sales that are just being doen to pu.p the market and add hype?

    I sell you a bag of dogshit for 10k and report that to the media, but you then give me back $9,950. I have effectively sold you a bag if dogshit for $50, but the news reporrs $10k and hype ensues.

    How do we know this is not happening on the back end? We dom’t.

  2. If it was *only* tokenised tweets being sold, sure. But that’s just one of many use cases, NFTs as a whole might be hyped up at the moment but they’ve barely even scratched the surface of how they’re going to change things.

  3. If it actually is Jack Dorsey who sold the tweet, then it holds an incredible amount of value.

    It’s like getting a painting that’s a re-painting of Leonardo Da VInci’s first painting as a child digitally re-painted by Leonardo Da Vinci himself and posted on your own private digital image collection except that others have seen a preview of the digital painting and may have screenshot it.

  4. Quite honestly just as expensive art is often bought by rich people with questionable cash flows I’m sure NFTs may offer a similar allure. The bus is probably only part of the equation though.

  5. i mean it’s the first tweet ever tweeted in the history of twitter. people with fuck you money want shit like that, just look at how chummy the guy that made the offer is lol he offered 300 eth like it was 300 cents cause he probably bought it when it was worth *less* than the dollar

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