Popular social media platform Twitter has released 140 free NFTs on the Ethereum (ETH) based NFT marketplace Rarible while Dorsey, CEO of Twitter and payments firm Square, says 'No' to ETH.
Twitter NFT Release
The announcement of the NFT drop came earlier today on the official Twitter account. It includes 7 unique interactive NFTs, each having 20 each to make a total of 140, that will be randomly given for free on what is believed to be on the threads of the tweets Twitter has made on the NFT drop. The NFT names go as follows: Vitamin T, Building Characters, Rare Form, Furry Twitter, twtter jggl, Reply Guy and First Born. The announcement of the NFT drop is snapshotted below and can be visited here:
.https://twitter.com/Twitter/status/1410227743636217856
- Twitter
Twitter has randomly handed out the NFTs in the threads of its announcements by replying to replies within a thread, congratulating the lucky winner with a 'DROP SECURED' image. It is believed that a DM will be established with the winner and Twitter where it is likely that the winner will be asked their ETH wallet to receive the NFT, Twitter sending the NFT over the ETH blockchain. An example of this is presented below and can be visited here:
.https://twitter.com/Twitter/status/1410405898967789575/photo/1
- Twitter
The NFT marketplace that Twitter has used is Rarible with its collection 'The 140 Collection' becoming included in the 'Hot collections' of the Rarible marketplace. Its NFTs have also dominated the 'Hot bids' section, meaning that there has come a high demand for such NFTs, people bidding over each other to collect these Twitter-based NFTs. All the NFTs presented in this section have over 3wETH bids placed, which approximates to about $6000. Assuming that each NFT was sold at $6000, that means that the collection of NFTs that Twitter has made would have sold for $6000 x 140 = $840000. However, this is assuming that each NFT is auctioned, which may not always be the case, and only once, possibly being auctioned even more times, which makes the total sales even higher. The NFTs minted by Twitter can be visited here: https://rarible.com/twitter?tab=created.
Not many of the NFTs minted by Twitter have been given out, at the time of writing being 33 NFTs out of 140. Only one has been fully minted, and that is the First Born NFT, which is a humorous packaged gadget that is designed for using Twitter, shaped in an egg and mentioning what is believed to be Jack Dorsey's first tweet: 'just setting up my twttr.'
Rarible has its own native token Rarible (RARI) that is according to CoinGecko is a 'governance token with Marketplace Liquidity Mining program and the airdrop for the large NFT holders.' Interesting RARI became bullish soon after Twitter announced its NFT drop its market cap going up more than 6 times - from ~$2 million to ~$13 million. This indicates the hype surrounding Twitter's NFTs, an exciting moment as more businesses join the crypto world, especially NFTs that have gained a lot of popularity over recent years. At the time of writing, RARI has gone up by 40.6% over the past 24 hours, sitting at $12.93.
The Twitter account bio has also changed into 'dropping NFTs all day.' The account can be visited here: https://twitter.com/Twitter.
Dorsey To ETH: 'No'
Dorsey's reply of 'No' to ETH came in response to a tweet from an on quote 'developer and investor' who predicted that it would be 'only a matter of time before he [Dorsey] buys in to $eth.' This is contradictory since Twitter released NFTs on the ETH NFT marketplace Rarible, Dorsey being the CEO of Twitter and so likely to have control over the Twitter account. The tweet is shown below and can be visited here:
.https://twitter.com/packanimalETH/status/1410268489789628421
- packanimalETH
Inside the tweet that Dorsey replies to a tweet from Dorsey is attached that appears to be demoting ETH while promoting meme cryptocurrency Dogecoin (DOGE). Dorsey simply states HamsterCoin with a hamster emoji, then an arrow directing to a tweet of Neeraj K. Agrawal.
The tweet states that 'Rep Sherman says the biggest threat to ethereum is dogecoin,' which is hinting that ETH is a limited cryptocurrency to the point that DOGE overtakes it, arguably having no utility and fuelled by media hype and humour. Rep Sherman is believed to refer to Brad Sherman who is the US Representative for California's 30th congressional district since 2013 according to Wikipedia. More about Brad Sherman can be found on this Wikipedia webpage: https://en.wikipedia.org/wiki/Brad_Sherman.
Dorsey appears to be tended more to Bitcoin (BTC) wherein in a tweet in 2019 he claims to only be holding BTC. Within the tweet replies come questioning of Dorsey's motive and suggesting ETH where Dorsey reasons firmly for BTC, suggesting no ideas for other cryptocurrency tendencies. The tweet with some reply examples is shown below and can be visited here:
.https://twitter.com/jack/status/1092914316729147392
- jack
Further Reading
BTCManager - Twitter Launches 140 NFTs on Popular Marketplace Rarible - https://btcmanager.com/twitter-launches-140-nfts-on-popular-marketplace-rarible/
CoinTelegraph - Twitter CEO Jack Dorsey keeps saying ‘no’ to Ethereum- https://cointelegraph.com/news/twitter-ceo-jack-dorsey-keeps-saying-no-to-ethereum
Medium - Rarible's Posts - https://rarible.medium.com/
Rarible - Homepage - https://rarible.com/
Thumbnail Source: https://boxmining.com/rarible-rari-the-evolution-of-nfts/