Twitter CEO Jack Dorsey will give all the proceeds from his minted tweet auction to charity, he announced on Tuesday.
His announcement follows the revelation that the first-ever published tweet was turned into a non-fungible token (NFT) and put up for sale on a service hosted by crypto startup Cent. Cent is a service built on the Ethereum blockchain that allows users to mint, sell and bid on non-fungible tokens (NFTs) of tweets.
The highest bid for the NFT is currently at $2.5 million, placed by @sinaEstavi.
The auction will end on March 21, after which Dorsey said he will immediately convert the proceeds to Bitcoin. He said he plans to donate the proceeds to GiveDirectly, a non-profit organization that sends cash directly to families living in extreme poverty.