Ethereum-based social network Cent has caught Twitter by storm through its new Valuables feature, allowing users to buy Tweets, minted as scarce, digital assets.
“The creator of this tweet decides whether to turn their work into a limited edition, one-of-one NFT,” states the website. “Prior to them deciding, anyone can make an offer for them to consider on this page. Think of the tweet like it’s a baseball card, and its creator is giving it to you with their autograph.”
Over $40,000 of offers have been made as of 48 hours ago, according to NFT podcast host who goes by the Twitter handle @niftytime.
Tradable tweets launched as the space for non-fungible tokens heats up, with $35M in digital art recently sold over a weekend, while the amount of NFTs sold climbs to the highest since CryptoKitties days, according to NonFungible, which tracks the data. It’s another sign users see value in owning provably scarce and unique digital assets.
Elon Musk Tweets
Bidders are now hoping Cent will catch the eye of top accounts like Elon Musk, with prominent NFT collector illestrator sitting atop the leaderboard with a 12ETH bid to buy a tweet about Doge.
Screenshots Aren’t Ownership
The trend has led some to question what makes digital assets valuable, with prominent Bitcoin content creator Peter McCormack challenging the notion of provenance by claiming ‘he now owns this NFT’ by taking a screenshot of a Tweet from crypto investor Chris Burninske.
Other web3 thought leaders like Grammy-winning musician RAC are fully leaning into the trend, posting a tweet with the attachment of an unreleased track that he said won’t be uploaded anywhere else. The tweet currently has a high offer of over $400. Other use-cases emerging is for creators to airdrop other digital assets to buyers of their tweets, according to @niftytime.
Even accounts outside of crypto showed interest in the feature, with web3 power users offering up offers to buy tweets within seconds.
The trend is one in the growing wave of social tools in crypto, showing that Ethereum’s vibrant ecosystem is now expanding into use-cases that are catching mainstream eyes.