By
Temitope Olatunji
April 18th, 2024
The song does not have a name. Besides, it does not exist in any major marketplace. However, the tweet of Elon Musk is listed as an NTF on the Valuables platform.
Tesla Inc (NASDAQ: TSLA) CEO Elon Musk has got on the news due to his latest tweet about selling a song devoted to non-fungible tokens (NFTs) as an NFT.
I’m selling this song about NFTs as an NFT pic.twitter.com/B4EZLlesPx
— Elon Musk (@elonmusk) March 15, 2021
The song is a techno track that repeats simple lyrics: “NFT for your vanity, computers never sleep, it’s verified, it’s guaranteed.” The statue on the video seems to have reference to Dogecoin (DOGE).
The song does not have a name. Besides, it does not exist in any major marketplace. However, the tweet of Elon Musk is listed as an NFT on the Valuables platform. Built on Ethereum and Matic Network, the platform allows users to tokenize and sell individual tweets. In less than an hour after the listing, the bidding soared from $3 to $100,000. It also included offers from WSBChairman and NFT curator Loopify.
By the press moment, Twitter user Mondoir offered the highest bid of $100,000. He said:
“First of all, we all know @elonmusk will never sell or accepts an offer to sell his tweets. He wont play this game. We all know Elon Musk will never sell or accept an offer to sell his tweets. My offer to buy his tweet was a strategic move as well as just to laugh.”
As Valuables platform developers have estimated, Musk would receive as much as 95% of the ETH offer in a wallet address he provides within an hour if he accepted any of the bids.
NFTs Winning the Market
Lately, there has been more and more news regarding non-fungible tokens. NFTs are cryptographic tokens that can be used to symbolize assets that are not very common. They can be used to commodify artworks, game assets, and music files. Access to any copy of the original file is available not only to the owner of the token.
The first Ethereum-based NFTs appeared back in October 2015. However, until the crypto art project CryptoPunks was released in 2017, NFTs were not much popular. The NFT boom started at the end of 2020 and continued into 2021.
The examples of NFTs are numerous. The most famous ones are Lebron James’ clip sold for $100,000 on Top Shot, an NTF album of Kings of Leon band, and much more.
The latest notable NFTs include Beeple’s work “Everydays: The First 5000 Days”. It was the first NFT of an artwork listed on Christie’s auction house and sold for $69.3 million on 11 March 2021.
Earlier, the Canadian singer Grimes sold around $6 million worth of tokens representing her digital art on Nifty Gateway. In under 20 minutes, she managed to sell unique and editioned items of her digital WarNymph collection as non-fungible tokens. The highest-selling piece was a one-of-a-kind video “Death of the Old”. It sold for $389,000 after four buyers engaged in a bidding war.