This Week’s Top Bitcoin And Crypto News: Jack Dorsey’s NFT Tweet Flops Up For Auction

Here’s what happened this week in the crypto world.

Getty Images

Welcome to Nonfungible Tidbits, a weekly roundup of news on crypto, NFTs and their related fields.

Our main story this week shows that NFTs don’t always sell for exorbitant prices. We’ll review the attempted NFT auction of a tweet by former Twitter CEO Jack Dorsey that sold for $2.9 million about a year ago – and recorded a high bid of $280 this week.

We’ll also cover Amazon CEO Andy Jassy’s comments on the e-commerce giant’s future plans for cryptocurrency and NFTs, Wikipedia’s vote to end all crypto donations, and the new Dallas Cowboys blockchain sponsorship deal.

Stay tuned for more next week.


Jack Dorsey’s $2.9M NFT Tweet Receives Top Bid of $280 at Auction

Jack Dorsey

Jack Dorsey

Getty Images

Former Twitter CEO Jack Dorsey turned his first tweet into an NFT last year and sold at auction for $2.9 millionwhich Dorsey later converted to bitcoins and donated to charity. Entrepreneur Sina Estav, owner of the NFT, put it up for auction last week and tweeted that he expected a winning bid of $50 million (he also pledged to donate half of that to charitable organisation). But the NFT fell, winning a max bid of just $280 on the OpenSea NFT marketplace.

Estav declined the offer. Sellers on OpenSea do not have to accept the winning bid in a timed auction if the bid is less than one ether. Estav is accepting new offers on the NFT, and the current offer at the time of this writing is just under $14,000.

Specifications for tweet-related NFTs are tricky. “NFTs are to digital assets what deeds are to a house: it’s not the asset itself, it’s a receipt that proves ownership,” writes Daniel Van Boom, senior staff writer at CNET. “That might make sense for an NFT created by an artist and sold to a bettor, but it makes much less sense for a tweet. If Dorsey deletes the tweet, or if Twitter takes it down, the NFT would be for an asset that no longer exists.

Read GameSpot’s full story on Jack Dorsey’s NFT tweet auction here.


Amazon Will Soon Stop Accepting Crypto Payments But May Sell NFTs, CEO Says

gettyimages-1362980354

Getty Images

During a Thursday interview with CNBC, Amazon CEO Andy Jassy said the company has no plans to accept cryptocurrency as payment anytime soon. However, Jassy, ​​who mentioned he doesn’t own any bitcoin himself, said selling NFTs on Amazon could be a possibility. Although no timetable for NFT buying or selling was given, Jassey said, “I think it’s possible on the platform.”

Read CNET’s full story on Andy Jassy’s comments regarding Amazon and cryptocurrency here.


Wikipedia community votes to end all cryptocurrency donations

Wikipedia logo and computer code

Avishek Das/Getty Images

On Tuesday, the Wikimedia community, a group that moderates Wikipedia, voted to end all cryptocurrency donations to the platform, citing ethical concerns related to accepting donations and the environmental damage caused by cryptocurrency mining. The proposal to end donations underscored the Wikimedia Foundation’s commitment to sustainability.

For reference, Digiconomist’s Bitcoin Energy Consumption Index estimates that the carbon footprint of the bitcoin network is comparable to that of the entire Czech Republic. Ethereum’s carbon footprint is estimated to be comparable to that of the country of Morocco, according to the Digiconomist index. Bitcoin and Ethereum are the two largest cryptocurrencies by market capitalization, and NFTs are usually created on the Ethereum network.

Read CNET’s full Wikipedia story ending cryptocurrency donations here.


Dallas Cowboys Partners with Blockchain.com for Sponsorship Deal

gettyimages-1359868488

Sarah Stier/Getty Images

On Wednesday, the Dallas Cowboys announced a sponsorship deal with Blockchain.com, making the cryptocurrency company an “exclusive digital asset partner” for the NFL team. NFL guidelines on crypto sponsorships are somewhat confusing. Last month, the NFL told CNBC that “blockchain sponsorships” would be allowed, subject to NFL approval. Cryptocurrency promotions, however, remain prohibited. The amount Blockchain.com is paying for the sponsorship has not been disclosed.

Cryptocurrency sponsorships in professional sports have seen a surge over the past year. In June 2021, cryptocurrency exchange FTX paid an undisclosed amount to become “the official crypto exchange brand of MLB.” In November 2021, Crypto.com has purchased the naming rights to the Lakers Stadium, which was renamed from Staples Center to Crypto.com Arena. Influential professional athletes like Tampa Bay Buccaneers quarterback Tom Brady and LA Angels pitcher Shohei Ohtani have also signed on as FTX brand ambassadors.


Thanks for reading. We’ll be back with lots more next week. Waiting, look at this story by Scott Stein on how Meta builds an economy to monetize its metaverse.

We want to give thanks to the author of this write-up for this awesome material

This Week’s Top Bitcoin And Crypto News: Jack Dorsey’s NFT Tweet Flops Up For Auction


Check out our social media profiles along with other pages related to themhttps://metfabtech.com/related-pages/