Credit: Original article published by Crypto Briefing Blog.

Decentralized social networking platform Valuables has been busy tokenizing popular Tweets and putting them up for auction. The most valuable Tweet is one from Tesla founder Elon Musk.

Musk Tweet Worth More Than $7,000

Users can now bid on any tweet made by a public Twitter account. If the seller accepts, the tweet is then minted into an NFT.

This NFT is digitally signed and verified, akin to a collectible baseball card.

The tokens also include the tweet’s metadata, such as when the tweet was posted, what the text contents are of the tweet, the timestamp of the tweet, and the digital signature from the creator’s crypto wallet address. The metadata lives on Matic Network.

Users can make counter-offers in 10% increments of the highest bid or $1, whichever is higher.

Sellers need to sign-in on the Valuables website via their Twitter account to review and accept any bids made on their tweets. The seller receives 95% of the proceeds in ETH, whereas the remaining 5% goes to the platforms team as fees.

All sales are final. Once a tweet has been minted, it can no longer be minted again. However, tweets can be sold and resold infinitely. At present, users cannot sell their NFT, but the team is working on this feature.

Source: Valuables

Currently, Elon Musk’s “Dodge” tweet has the highest bid of $7,777.77,  whereas David Rudnick’s tweet sold for $1,920, the highest sale to occur on the platform thus far.

NFTs are gaining traction rapidly. Beeple’s “Everydays” NFT collection fetched a staggering $3.5 million in December 2020.

This article is strictly for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. CryptosOnline.com does not provide investment, tax, legal, business or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any loss or damage caused or alleged to be caused by, or in connection with, the use of or reliance on any content, goods, services or opinions mentioned in this article.

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