NFTWith these egg NFTs anyone can have the right to post any nonsense on a Twitter account without the fear of it being deleted! 

The rise of non-fungible tokens (NFTs) has caused the emergence of amazing projects. Recently, Internet users have started buying NFTs representing eggs. The initiative was launched by a CAD (decentralized autonomous organization), a decentralized autonomous organization that includes internet users who invest together for a common purpose, called The Tweet Dao. 

The concept is as simple as it is amazing. The DAO launched 1000 NFT representing eggs on the OpenSea platform. Individuals who buy one of these digital eggs get the right to post anything on a dedicated Twitter account.

How Does It Work?

As the DAO noted in a Twitter thread, its eggs began trading at 0.1ETH (~$350 at the time of writing). And for every 100 eggs sold, the price of unsold NFTs went up by 0.1ETH. So, the final set of eggs will be sold at 1ETH.

Once you’ve got an egg, you can head over to the community’s site, and post whatever you want to tweet via the DAO’s Twitter account (which currently has some 5,200 followers). There doesn’t seem to be any cap on what you can post. That’s not a good policy if you’re looking to engage on a social network.

Some of the DAO’s tweets are childish, and others are trying to promote some cryptocurrency or NFT projects to invest in. Unless the owners of the project are keeping some tokens for themselves, they can potentially make 500ETH (~$1.7 million) to just let people tweet from a not-very-popular account. That’s a lot of money for something you can do for free.

The Valueless Concept 

Despite the strangeness of the concept, the value of egg NFTs has skyrocketed since the launch of the project. Initially, each non-fungible token was offered at the price of 0.1 Ether, or approximately 320 euros. According to the DAO, the next series of eggs will be offered at prices around one Ether. This cryptocurrency is currently trading at around 3200 euros.

Another problem is that because of a particular tweet, the project’s account was suspended last night, and the DAO couldn’t post tweets for hours. And since there’s no moderation, there’s a chance this can happen again.

Meanwhile, the floor value of TweetDAO’s eggs on the NFT trading platform Opensea has hit 0.7ETH (US$2,420). And the total trading volume of said eggs has hit 251ETH (~$868,00).

That’s not a cheap investment unless you have thousands of dollars rolling into your bank account every day. And there’s already a duplicate project on Opensea, which is trading eggs that might not give you any tweeting privileges.