Tokenized Tweets: Cashifying Social Media

The tweet below was sold for 1630 ether(a whopping $2.9 million at the time!), whoever would have thought that 24 digital characters would ever be worth so much?

Interested to know how this came to be? Read on to enter the mind-blowing world of NFTs & Blockchain and get an insight into “Tokenized Tweets”.

What are NFTs?

It is a Non-fungible Token, so now, let us take a look at what non fungible actually means. Basically, non-fungible denotes the uniqueness of anything, that is, let us take an example of a 100 rupee note, which can definitely be exchanged for 5 20 rupee notes whereas a piece of artwork has no definite value, here, we will call the 100 rupee note fungible, while the piece of artwork is non-fungible.

An NFT can be anything on the internet, like- games, tweets, or even gifs most NFTs are part of the Ethereum Blockchain, although it is perfectly plausible for another blockchain to create its own rendition of an NFT.
So in essence, an NFT, in its truest sense, provides you with the ownership of a digital asset.

According to nonfungible.com, at the time of writing this article, there have been a total of 2,19,42,952 NFT sales that racked up about $14,556,58,961!

How do Tweets fit into all of this?
By now, you must have realized how your very own tweet can be sold for millions! Basically, one can convert their tweet into an NFT which can then be sold on various NFT markets, including but not limited to Opensea, Rarible and many more.
A big shout out to the developers at “cent”(developer contact provided below), in creating the valuables platform that allowed people to create tweet NFTs, hence, enabling the “Tweet-Trade”.
But the real, and more important question for you, beloved readers, is how you can go about selling those tweets, and fortunately for you, this author has the answer right below-

1.Head over to https://v.cent.co/ (the domain of Valuables by the social media platform Cent) and create your login, linking your twitter account.

2.Once you have successfully created your profile, In Profile, under the Connections section, click on the “Set Up MetaMask Wallet” option and follow the instructions to create your Ethereum(ETH) wallet on Metamask.

And that's it, you are all set to buy and sell tweets on the Valuables platform, so go ahead and do some mining(and I will pretend I make good puns).

So, The Next Big Thing or a Sinking Ship?

For those of you who must be wondering whether Tokenized Tweets and in the bigger sense, NFTs are even a good investment, well the answer is, there is no certain way to determine whether it will go one way or the other just right now.

But if you wanted a piece of mind of our humble blogger, I would tell you that, although a very exciting prospect, tokenized tweets are not without their fallacies, including serious issues like deletion of owned tweets, and dual ownership of tweets on different blockchains.

Hence, I would ask you to proceed with caution, but as Benjamin Graham rightly said, “Successful Investing is managing risk, not avoiding it”, therefore, it is up to you, fellow readers, to decide whether it is an opportunity of a lifetime or a bottomless pit!

Signing off,
Ansh Kanotra

Developer Contact

Email-hello@cent.co

Discord-https://discord.com/invite/J64vfUd6gz

Twitter Handle-https://twitter.com/cent

To know more, contact us here:
Email: contact@incepthink.com
Twitter: @Incepthink
Website: www.incepthink.com