Twitter content tokenization! Crypto startups turning tweets into NFT tokens, open market for competitive bidding.

In the cryptocurrency community on Twitter, in addition to the excitement caused by the continuous highs of the Bitcoin bull market, a new project in the NFT space, Valuables, has recently attracted attention. It allows users to turn their tweets into unique NFT tokens for auction. The highest price paid for a tweet so far is $1,908.

Tweet Tokenization

According to its website description, Valuables is dedicated to empowering creators on Twitter to regain control of their digital content profits. The mechanism works such that when a user links a tweet to the Valuables platform for tokenization, although the tweet still exists on Twitter, its NFT version becomes unique.

First, users must have a Twitter account and an Ethereum wallet like Metamask. 95% of the earnings from each transaction will be given to the original tweet creator, while Valuables charges a 5% transaction fee. Each tweet can only be tokenized once but can be traded repeatedly.

As shown below, Twitter founder Jack Dorsey's first tweet on March 22, 2006, when Twitter first went live, has been tokenized on Valuables and has received multiple bids, with the current highest bid being 5.3 ETH, approximately $3,367.

Furthermore, Grammy-winning artist RAC released a song on Twitter on the 21st and promised that the tweet is the only channel for the song, not to be uploaded on any other platform. The tweet was sold for 0.66 ETH.

here’s a thing I wrote today ✨
I promise that this tweet will be its only official release. I won’t upload it anywhere else. pic.twitter.com/n5YVWwmz27

— rac.eth ⌐◨-◨ (@RAC) December 21, 2020

Top-Priced Tweet: Musk's Cryptic Quotes

In addition, Tesla founder Elon Musk recently posted a series of cryptic tweets on Twitter that drove Bitcoin enthusiasts crazy, and these tweets have also been turned into NFT tokens by users. Among them, Musk's tweet praising Dogecoin again has reached an auction price of 12.18 ETH.

In recent years, there have been numerous attempts to integrate token economies with social platforms, but most have ended in failure. Although Valuables' NFT integration model is quite innovative, there are still many frictions in its use, just like Musk's tweets, which are impossible to sell if he does not use a Web3 wallet like Metamask and agree to it.

Furthermore, the user interface of Valuables is still quite rudimentary, even the team introduction on the official website is completed using Google Docs. While tokenizing tweets may bring additional income opportunities to users, in the absence of a well-developed infrastructure like Web3, it may just end up being a speculative game within the crypto community.