Twitter created a long thread highlighting seven unique pieces of artwork that it is giving away to 140 random users that interact with the tweets. This digital artwork is being given away as NFTs, or nonfungible tokens, and is being hosted on Rarible, an NFT marketplace for people to trade, buy, and sell digital artwork.
You may ask, what is an NFT?
NFTs are verifiable digital assets that are traded on blockchain technology. They are one-of-a-kind and allows for the owner to prove an asset is theirs. So, you may ask, what exactly happens when someone buys an NFT? Well, buyers of NFTs receive a digital file that claims ownership of some asset. This is away from the physical objects we buy and have.
Twitter isn’t getting any money from this, but users that receive an NFT are more than welcome to sell them to other users. Apparently, all you need to do to get a piece is just to reply to the tweet below.
140 free NFTs for 140 of you, besties pic.twitter.com/0Pm0tNhIRg
— Twitter (@Twitter) June 30, 2021
Typically with NFTs, the creator gets a portion of every sale of the NFT. So for example, if you make something and a user buys it, you get paid, of course. But in addition, if that user then sells it to someone else, you get a percentage of that sale, as well.
Earlier this year, Jack Dorsey, CEO, and founder of Twitter sold an NFT of his first tweet for a whopping $3 million.
Read About: Everything you need to know about non-fungible tokens