The NFT market has gained a lot of attention over the past weeks as artists and entertainers venture into selling digital rights of different items.
Tesla Inc (NASDAQ: TSLA) CEO Elon Musk has decided to no longer sell his song on non-fungible tokens (NFTs), which he previously wanted to sell as an NFT. Musk revealed his updated decision to let go of earlier plans to sell the song about NFTs as an NFT in a recent tweet posted.
Actually, doesn’t feel quite right selling this. Will pass.
— Elon Musk (@elonmusk) March 16, 2021
Musk Earlier Plans to Sell NFT Song as NFT
Before now, Coinspeaker said in a report that Musk’s devoted song to NFTs is a techno track with repeated lyrics. The lyrics say:
“NFT for your vanity. Computers never sleep. It’s verified. It’s guaranteed.”
Before he changed his mind about selling the NFT song, Musk did not mention the platform he would be selling the song nor did he reveal details on the time of sales.
Elon Musk’s tweet about the NFT song was posted along with a short video loop that shows a trophy labeled “Vanity Trophy” with “NFT” at the top. There is also an inscription on the base of the image that reads “HODL” and “COMPUTERS NEVER SLEEP.”
Although the song has no name and is not recognized on any major marketplace, the tweet by Musk is listed as an NFT on the Valuables platform. In less than one hour after the listing by Valuables, bidding surged from $3 to $1,000. The Twitter user Mondoir that bid $100,000, said that the offer to buy Elon’s tweet “was a strategic move as well as just to laugh.” According to Mondoir, Musk will never sell or accept an offer to sell his tweets.
According to the Valuables platform, the highest bid on Elon Musk’s tweet is $1,121,000 from a Twitter user @SinaEstavi.
Musk is known as a huge supporter of digital assets like Dogecoin, Bitcoin, and now NFTs. The CEO once added the Bitcoin hashtag to its Twitter bio, which triggered several comments in the crypto space and resulted in an increase in BTC’s price. In February, Tesla announced its $1.5 billion BTC investment, fueling significant growth in the price of the digital coin. The carmaker also said it would start accepting BTC as a form of payment for any of its products.
The NFT Market
The NFT market has gained a lot of attention over the past weeks as artists and entertainers venture into selling digital rights of different items. Musk’s romantic partner and artist Claire Elise Boucher, known as Grimes, recently sold her digital artwork. After putting the artwork up for auction, it eventually sold for around $6 million.
Earlier this month, American rock band King of Leon released a new album as NFT. The bank became the first to release an NFT album.
Twitter CEO Jack Dorsey also announced the sale of his first-ever tweet as an NFT.