🔓 Valuables FAQ

What does it mean to own a tweet? A guide to Valuables NFT integration with Twitter.

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🔓 Valuables FAQ

What does it mean to own a tweet? A guide to Valuables NFT integration with Twitter.

cryptocurrency, crypto, NFT, Twitter, guide

🔓 Valuables FAQ

What does it mean to own a tweet?

What you are purchasing is a “digital certificate” of that tweet. The digital certificate is called an NFT, and it is signed by its creator’s @handle on twitter. Like an autograph on a baseball card, the NFT is the creator’s autograph on a digital file, making it unique and valuable. These tweets are purely collectibles, they don't confer copyright or commercial rights to the buyer.

What is an NFT?

NFTs are digital certificates of authenticity issued by their creators. As the owner of an NFT, you control where it is seen, if it can be transferred, when it is resold, and more. NFTs can fluctuate in value just like any other scarce asset or collectible.

NFTs “verify” content by minting it on the blockchain. The blockchain is a decentralized system of computers that is open for anyone to participate in. When you mint an NFT on the blockchain, essentially everyone in that system is saying “yep, this is the one!”

What if a creator deletes the tweet that I already purchased?

Not to worry, you will still own that NFT and its metadata!! (The metadata includes who posted it, when it was posted, the contents of the tweet, and more)

You can track the ownership history of an NFT on a blockchain explorer like this one.

Why would I pay to own an NFT of a tweet?

Every day, valuable moments happen within the span of a tweet. Turning these moments into NFTs captures that value in the form of digital collectibles. Purchasing an NFT from someone creates the beginning of a direct relationship between you and them.

How do I buy a tweet using Valuables?

1. Copy the tweet’s url from twitter.

2. Go to v.cent.co and paste the url.

3. Place an offer in USD. The minimum offer is $1*

4. Click NOTIFY THEM to go back to twitter and reply to that tweet, letting the creator know you have put an offer on it.

*Note: Your offer money will be held “in escrow” until your offer is accepted or rejected. If you are outbid, you will get a refund automatically. If your offer hasn’t been accepted or outbid after 24 hours, you may cancel it and receive an immediate refund, minus transaction fees. Transaction fees are paid to the ethereum network (not us) and are called “gas.”

How can I sell my tweets using Valuables?

1. Have a twitter account.

2. Login to Valuables using your twitter (this verifies which tweets are yours).

3. Add metamask to your browser (this is so you can interact with ethereum).

4a. Go to PROFILE on the Valuables navigation panel and accept any of your offers.

4b. Input the url to your tweet, and click TWEET IT to let your followers know it’s for sale.

What is metamask?

Metamask is a digital wallet for ethereum and it adds on to your desktop’s browser as an extension. On mobile it will be its own standalone browser, and on desktop you can add it to Chrome or Firefox. Go to https://metamask.io to install it.

Warning! When you connect an ETH address (from metamask) to your twitter handle using Valuables, it can not be unlinked. You use this address to autograph tweets; it’s uniquely tied to your account.

What is ethereum (ETH)?

Ethereum (ETH) is a cryptocurrency with real world value. You should definitely do your own research on how cryptocurrency works, but for now all you need to know is that you can convert ETH to traditional currencies like $USD using a service like coinbase.

In order to interact with ETH, you’ll have to create a metamask wallet first.

I got a notification on twitter about an offer on my tweet. What do I do next?

Sign in to Valuables and go to your PROFILE. You will see all your open offers in the OFFERS tab. Click ACCEPT on an offer and wait for the metamask popup asking for your signature. Then, click SIGN.

Congratulations! You’ve earned ETH by selling your tweet. It should appear in your wallet within one hour.

What can I do with tweets that I own?

You can resell them using Valuables or display them in your digital gallery.

Where does the money go?

95% of it goes to the tweet’s original creator. 5% of it goes to Cent.

On re-sales, 87.5% goes to the seller, 10% goes to the original creator, and 2.5% goes to Cent.

How does the tweet’s creator receive their money?

The money will be automatically credited to their digital wallet when they accept an offer. It can take up to an hour for the transaction to clear on the ethereum network. If it’s been over a day, please reach out to us at [email protected]

How long does an auction last?

There is no time deadline to an auction on Valuables. An auction will last until the owner of the tweet decides to accept an offer; or they could choose to never accept! :P

How do I counter someone else’s offer on a tweet?

Your counter-offer must be an increase of 10% or $1, whichever is more.

Though all offers are shown in $USD, the minimum increase is based on the current offer’s value in ETH (which fluctuates).

What happens if my offer gets outbid?

Your money is automatically credited back to the balance in your digital wallet. The sender of the refund will be via Cent’s smart contract, which means it won't appear in your normal transaction feed.

You can view the transaction on https://etherscan.io by inputting your wallet address, and then clicking the INTERNAL TXNS tab. There you will see a refund transaction for the full amount of your offer.

For reference, Cent’s wallet address is: “0xE14ab3Ee81aBe340b45Bb26b1B166a7D2dF22585”

And your wallet address will be similar, starting with “0x…”

How many times can someone mint the same tweet?

A tweet can only be minted once using Valuables. However, the NFT generated can be bought and sold an unlimited number of times to multiple people in succession.

What if the creator doesn’t accept my offer to buy their tweet?

If your offer hasn’t been accepted after 24 hours, you can cancel it and receive a refund for the amount offered, minus gas fees.

What if the creator changes their mind after accepting my offer?

Transactions on the blockchain are irreversible. You are now indisputably the owner of that tweet NFT. Of course, you can always sell it back to the original creator.

What if I change my mind after my offer is accepted?

Same as above.

Can I change the twitter account associated with my ethereum address?

Once an ethereum address has been linked with a twitter account, it cannot be linked to another twitter account.

Whose tweets can I buy?

Currently, you can make offers on any tweet authored by an account that does not protect its tweets (ie. public accounts only).

Can I make an offer on my own tweet?

No. But we are currently developing tools for creators to mint their tweets as NFTs without having to sell them first.

Where do the NFT and metadata live?

All NFT metadata lives on the matic blockchain. Click the link following TOKEN ID to see the tweet’s screenshot (upper right) and its metadata (second tab).

What else is stored in the metadata of the NFT?

The metadata includes: the timestamp when it was tweeted, the text contents within the tweet itself, the url to a screenshot of the tweet, the date when it was sold, and a digital autograph from its creator’s digital wallet address.

Why doesn’t the NFT show up in my digital wallet?

In order to enable resales, we currently custody the tweet in Cent’s digital wallet. We are making moves to enable full tweet ownership in the near future.

How do I move tweets out of Valuables?

If you’d like to request a manual transfer of your tweet to your personal wallet, send us an email at [email protected] Make sure you configure your metamask to use matic so you can move the asset around. We’ll confirm your address with you before we send it over manually.

After we transfer it to you, Valuables will no longer be able to process the transactions for resales and you will have to do so manually using opensea (they are currently working on enabling this for us!)

Still confused?

Reach out to @cent on Twitter or email us at [email protected]

Press inquiry?

Please email [email protected]

🔓 Valuables FAQ
Info
Tags Cryptocurrency, Crypto, NFT, Twitter, Guide
Type Google Doc
Published 08/09/2021, 06:56:12

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