Billionaire and “Technoking of Tesla” Elon Musk was planning sell a song he produced as an NFT in a recent. But, he “passed.”
Elon Musk’s NFT Song
“I’m selling this song about NFTs as an NFT,” Musk, CEO of SpaceX and Tesla, tweeted on Monday.
The NFT Elon released was a techno song with the lyrics: “NFT for your vanity. Computers never sleep. It’s verified. It’s guaranteed.”
The song featured a short futuristic video loop that shows a trophy labeled “Vanity Trophy” with “NFT” at its top and “HODL.”
HODL is a nod from MUSK to the cryptocurrency community. The term means to hold a coin rather than sell. HODL was repeated across the trophy’s bottom.
What are NFTs??
NFTs, similarly to physical assets, can be bought and sold. Also, NFTs can be tracked as they run on blockchain. So, it allows a decentralized digital ledger that documents transactions, ownership and validity of the assets.
However, NFTs digital assets are “collectors items.” A digital asset cannot be exchanged with another NFT of equal value or even broken down into smaller bits. Also, NFTs are unique and cannot be duplicated.
All the previously mentioned qualities make NFTs the hottest new thing in the crypto world. They grabbed global attention last week when digital artist Beeple became one of the three most expensive living artists by selling an NFT for $69 million.
It was only a matter of time before NFTs grabbed Musk’s attention too. Elon Musk has been a major force behind the recent bitcoin rally and has long championed meme cryptocurrency dogecoin.
Elon Musk ‘Will Pass’
However, later on Tuesday, Musk had a change of heart. Elon Musk turned down a $1.1 million offer after putting the tweetup for sale. “Actually, doesn’t feel quite right selling this,” he tweeted Tuesday evening. “Will pass.”
Musk’s tweet was up for sale as an NFT on “Valuables,” a platform released by Cent, a social media network built on blockchain. The tweet received an offer as high as $1.12 million from Sina Estavi, CEO of Bridge Oracle.
The bid was shown on the website since “Valuables” requires users to log on to the platform via their Twitter accounts. This measure comes in attempt to verify that tweets listed for sale are done so by their true creators.
However, fans are certain Elon Musk will have another craze coming down the road sometime near. His Majesty “Technoking” will find his way to new cryptocurrency trends.