Over the last few days, we have heard a lot about Valuables, a recently launched service for buying and selling tweets signed by the original authors. It is an excellent service that has achieved popularity thanks to Jack Dorsey, the CEO of Twitter. It all started on March 6th, the day Jack published a tweet containing a link to the website v.cent.co, where he offered for sale the first tweet ever published (dating back to March 21st, 2006). Obviously, given Jack’s popularity, the bids he posted were all significant, reaching up to $2.5 million (the last bid with the auction expiring in just four days). Curiously, among the bidders, there is also Justin Sun, the most hated character in the crypto sphere (what one does not do for a bit of publicity, huh?).
Valuables by Cent – What is it for?
In a world where everything is becoming digitalized, digital autographs will surely become a trend. And valuables was created for exactly this reason: to somehow connect fans with their favourite people. Imagine Cristiano Ronaldo or LeBron James with autographed tweets. What would be their value? The first tweets will obviously have a very high value, while future tweets will become increasingly cheap. Collectors will certainly be the main players, since for each purchase they will get a digital certificate authenticating the uniqueness and originality (with timestamp, autograph and other metadata).
Holding these tweets can be both an investment and a kind of connection between the holder and the creator of the tweet itself. A bit like the autographed cards we see every day on eBay and other marketplaces at unbelievable prices!
Valuables – How does it work
The operation of the site is really simple and is similar to many other NFT resale sites (such as OpenSea, Rarible etc): you log into Valuables with your Twitter account and use an in-browser Crypto Wallet such as MetaMask. After that, simply make an offer or accept an offer if you are the seller of the tweet. Payments are made in Ethereum, which makes the service even more interesting as ETH is definitely the most widely used token and blockchain in the world at the moment.
The website also offers a portfolio page where all purchases can be displayed and a page where previously purchased tweets can be resold. And if you decide you want to remain anonymous, the portfolio page can be hidden with one click.
95% of the accepted offer is your total gain (if you are a seller), while the remaining 5% goes to the Cent company (the creators of Valuables). As far as reselling is concerned, the net gain is only 87.5%, as 10% will always go to the original creator and 2.5% will go to Cent. A good strategy to make the original creators earn money on every resale of their tweet.
The original tweet can only be tweeted once, while resales can be infinite. It will all depend on the interest in that particular tweet (and as we have learned over time, the more years go by, the more valuable something becomes). Payment to the creators is very quick and is dependent on the Ethereum network. It usually only takes a few minutes to receive ETH once a sale has been completed.
Valuables is an auction marketplace and it will only be possible to make a new bid if you can offer at least $1 more than the previous bid or 10% more (if this 10% is more than $1). An excellent service that will gain more and more popularity as NFTs are currently a hot topic and are being discussed in every media (newspapers, portals, social media and so on).
P.s. Elon Musk has also decided to use Valuables and has recently put one of his tweets up for auction, which can be found at this link. The highest bid is currently over $1 million. Incredible!