Recently there has been a rise in popularity for non-fungible tokens on the Internet, which are more known by their acronym NFT. While NFTs can be traded like any other physical object, NFTs are also sometimes representing rather curious entities, may they be entirely digital or not. Even digital rocks can be traded but much like with art, any object’s value is determined by what someone is willing to pay for it, and some only buy with the intent of selling it for a higher value. In this article, we want to introduce the process of buying and selling tweets, including your own, from Twitter.
What are NFTs about really?
A non-fungible token (NFT) is a digital entity that can be stored as part of a blockchain. Similar to how cryptocurrencies also work, this enables the decentralized processing of NFTs and making sure that each unit is unique and cannot be copied or changed. NFTs can therefore represent any sort of media or digital files.
Users can buy or sell NFTs on exchange platforms and just like Twitter co-founder Jack Dorsey sold his first tweet for $2.5 million in an online auction, so can you. But how to do that? Follow the steps below to find out more about this process.
How to sell your tweets as NFT
- First, you have to tweet the tweet that you want to turn into an NFT to sell it.
- Open the Tweet exchange platform Valuables by Cent.
- Enter the Tweet’s URL into the field on the top of the site.
- Sign in to v.cent.co by allowing them to authenticate your Twitter account.
- Install the browser extension MetaMask or use their app on iOS or Android.
- Log in to MetaMask with your wallet credentials.
- Now you can mint the tweet to your v.cent gallery.
- Tell others about it.
- Wait for people to make offers in order to own your tweet as NFT.
- Review the trade requests and refuse or accept the offers.
- Once you accepted an offer, the tweet is then minted on the blockchain with the autograph of the creator.
- Get rich, or maybe not – best of luck with your trades!
This tweet is for sale. #NFT
— Chris Isak 机械诗人 (@ChristopherIsak) April 21, 2021
Based on these steps you can turn any one of your tweets, or as many as you like to tradable NFTs and maybe get rich by doing so, but don’t count on it.
You can also trade on the platform
If you’re not interested in minting NFTs as creator, you can also become a broker of sorts. You can buy any tweet NFTs from the creator or someone else who bought them from the creator. The NFTs can be purchased and sold with the cryptocurrency Ethereum (ETH), but in order to keep an idea of what anything is worth, they also display the prices in USD.
Just like with about anything, the value of objects can vary a lot. Some tweets are as cheap as $5 and others are as expensive as tens of thousands of dollars. Why some tweets get a high value can not be easily explained. Some of the expensive tweets are very simple, don’t contain any sort of media, and never got much attention on Twitter, meaning little to no engagement visible on the tweets. If you’re looking for more information you can also check out the FAQ page on the Valuables site written by Lauren Chanel Allen.
In case you’re wondering, no, I haven’t gotten a single offer for my test NFT tweet. But that’s life. No problem. The last thing that I want to mention to you now before you go off and trade your own or other people’s tweets: Invest only a certain amount of money that you have dedicated for this very purpose. This isn’t gambling but trading anything can mean both profit and loss. There is the risk of becoming addicted. You can lose money and if you don’t follow rules, you can lose everything. Be smart.
If you’re more of a visual person, you can also check the video below by Samuel Joseph, who also explains this process very well on his YouTube channel.
YouTube: How to make money (ETH) by selling NFT Tweets on CENT
Photo credit: The feature image has been done by Chris J. Davis. The screenshot in the body of the article was taken on the Valuables by Cent website and is owned by them.