Musk Reconsiders Selling Tweet 🎶

Musk Reconsiders Selling Tweet

On Invstr Crunch, we’ve talked about non-fungible tokens or NFTs quite a bit. Buying and selling these crypto assets is becoming increasingly popular, and one of the richest men in the world just joined in on the fun.

On Monday, Elon Musk tweeted he was selling a song about NFTs as an NFT. The tweet contains a techno-song and a short video loop with the lyrics “NFT for your vanity. Computers never sleep. It’s verified. It’s guaranteed.” The futuristic video loop shows a trophy called “Vanity Trophy” with “NFT” at the top and “HODL” on the bottom, a reference to a cryptocurrency culture term meaning to keep rather than sell.

With his caption and song, Musk’s tweet was listed for sale on “Valuables” as an NFT. Valuables is a platform created by Cent; a social media network based on blockchain. On Tuesday, Sina Estavi, CEO of Bridge Oracle, bid Musk’s tweet up to $1.12 million.  However, in a sudden turn of events, Musk said, “Actually, doesn’t feel quite right selling this. Will pass.”

If he sold his tweet, the tweet would continue to stay on Twitter, but the winning bidder would own the NFT.

Musk isn’t the first rich guy to dabble in NFTs. Just this month, CEO of Twitter and Square Jack Dorsey auctioned off his first tweet on Valuables. Dorsey’s auction ends March 21st, and the current highest bid is also by Sina Estavi for $2.5 million.

Don’t you wish you could create a tweet and sell it for millions of dollars? — I sure do!

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

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