Elon Musk passes on $1M offer for his NFT song

On Monday, March 15th, Elon Musk announced in a tweet that he would be selling his own techno song about NFTs as an NFT. The tweet included the song itself in the post, which we as the Nexverse team actually really enjoyed listening to. He later rescinded the sale saying “Actually doesn’t feel quite right selling this. Will pass.” One bidder even offered more than $1 million for the tweet including the techno song and the video clip.

Zoom In: Recently, Musk’s girlfriend Grimes also put up a Mars-themed digital art collection called ‘WarNymph’ for sale as an NFT. The collection brought in $5.8 million after being auctioned off. Similarly, Twitter CEO Jack Dorsey also announced that his first-ever tweet was turned into an NFT, which was sold for over $2.9 million. The CEO added that the proceeds from the auction of his 15-year-old tweet would be donated to the COVID-19 Africa relief program developed by Give Directly.

NFT 101: Crypto art collectibles are nowadays becoming increasingly popular through the NFTs (Non-Fungible Tokens), which paves the way mainly for the concept of digital art. People are paying hundreds of thousands of dollars for NFTs. NFT refers to the unique cryptographic tokens that cannot be copied or exchanged. Their unique nature prevents them from being exchanged with another token of their own kind. The current owners of NFT artworks can also be traced and confirmed through blockchain. That’s why the originality of a work of digital art that is transferred to an NFT can be easily confirmed. The artworks transferred to an NFT are purchased in the digital marketplaces.