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Non-fungible coins, institutional Bitcoin adoption, and the quirkiness of Dogecoin have all found a home with Tesla CEO Elon Musk.
In a tweet today, the billionaire announced that he will be marketing a musical non-fungible coin, or NFT, with lyrics focused on the technology’s hype: “It’s tested, it’s assured.” The song’s video clip shows a pair of diamond hands under the sky, with Shiba Inu dogs circling — most certainly a nod to Dogecoin.
I’m selling this song about NFTs as an NFT pic.twitter.com/B4EZLlesPx
— Elon Musk (@elonmusk) March 15, 2021
Despite the fact that the song does not appear to be available on any large marketplace, crypto users have discovered a way to measure its obvious worth — by tokenizing the tweet itself.
The Musk tweet is officially listed as an NFT on Twitter’s Valuables website, which enables users to make bids on digital copies of any tweet. Less than an hour after Musk mentioned the album, the bidding increased from $3 to $100,000, with deals from WSBChairman and NFT curator Loopify included.
At the time of publishing, the highest bid of $100,000 was made by Twitter user mondoir, who is an Iranian Bitcoiner. They say that they have not locked in any volume of Ether (ETH) for their offering, which is approximately 53.89 ETH.
“We all know Elon Musk will never sell or accept an offer to sell his tweets,” said mondoir. “My offer to buy his tweet was a strategic move as well as just to laugh.”
According to Valuables, if Musk supports any bid on the tokenized tweet, he will earn 95 percent of the ETH offer “within an hour” in a wallet address he gives.
Though it is unknown if Musk plans to sell the NFT on a website like Nifty, the sale may be linked to a recent Tesla filing with the US Securities and Exchange Commission. Musk said that he would keep his role as CEO, but referred to himself as the “Technoking of Tesla.”