HomeNewsJack Dorsey to donate the proceeds from the auction of the first...

Jack Dorsey to donate the proceeds from the auction of the first tweet to GiveDirectly

The first tweet on Twitter has been attracting a lot of bids on Valuables as the co-founder Jack Dorsey has put it for auction as an NFT. As reported earlier, the highest bid continues for the non-fungible token to be $2.5million from Sina Estavi, the CEO of Bridge Oracle. But there’s no telling how much further it can go. That’s because, Dorsey has mentioned that the auction will continue till March 21st.

While that’s not a surprise as such, The Twitter and Square co-founder has also mentioned that the proceeds of the auction will go to a charity. He’ll be giving it to GiveDirectly Africa Response. What’s even more interesting is that Dorsey will first convert the ETH to BTC before donating it. This proves that he continues to be bullish on Bitcoin only, though he does realize its limitations. That’s why he used Ethereum’s ability to enable NFTs.

GiveDirectly is among the largest non-profits across the globe that let donors send money directly to help needy people. The Africa Response project from the organization is aimed at giving cash to families that are extremely poor in regions like Keyna, Rwanda, Liberia, and Malawi. The fund has already received $119.6 million with the goal being $125 million. So, it’s evident that this donation will help the project reach closer to its goal.

Jack Dorsey’s move could also usher in other celebrities to jump the NFT bandwagon. Whether it’s a tweet, a piece of art / music, some other collectible item, it’s interesting that NFT space is creating new opportunities for people to raise money.

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