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Business Insider

 
 
Tesla CEO Elon Musk has long been known for his bullishness on bitcoin and other cryptocurrencies. Now he says he’s diving into the latest fad in crypto: non-fungible tokens, or NFTs. 
Musk tweeted on Monday that he is “selling this song about NFTs as an NFT”. The tweet is accompanied by a roughly two-minute video featuring an NFT-themed electronic dance music track.
One verse of the song is: “NFT/For your vanity/Computers never sleep/It’s verified/It’s guaranteed/NFT.”
The music plays as a digital NFT-themed trophy, which features loads of nods to cryptocurrency and the memes surrounding it, revolves in space. Atop the trophy is a moon, a reference to the common crypto meme that a given currency will go “to the moon”, or surge indefinitely.
 

I’m selling this song about NFTs as an NFT pic.twitter.com/B4EZLlesPx
— Elon Musk (@elonmusk) March 15, 2021

The trophy features the acronym “HODL,” a common shorthand in the crypto community that stands for “hold on for dear life”. There are also several golden dog figurines, which may be a reference to the crypto token Dogecoin, which Musk has used his Twitter account to promote numerous times. 
Musk’s apparent foray into NFTs comes as the frenzy surrounding the blockchain-based tokens intensifies. NFTs are essentially digital deeds that grant a buyer ownership of a particular file – such as a song, photo, or video – and one sold on Thursday for more than US$69 million. The artist behind the work, known online as Beeple, replied to Musk’s tweet offering to buy his NFT for US$69 million. 
Elon Musk’s warning of high bitcoin price costs him US$15 billion
The Tesla CEO’s interest in NFTs doesn’t come as a huge surprise, given he is already a major supporter of bitcoin. Tesla bought US$1.5 billion worth of the cryptocurrency in February, and announced them that it will accept bitcoin as a form of payment in the future.
Musk’s girlfriend, Grimes, sold several pieces of NFT art earlier in March for nearly US$6 million. 
It’s unclear whether Musk is serious about selling the song or the video accompanying it, nor is it known which NFT marketplace he may list it on.
 


It’s also not clear whether Musk made the song himself. But the billionaire did publish his own electronic music to SoundCloud in early 2020, and the song – Don’t Doubt ur Vibe – made it to the platform’s top 10.
 


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Music

Elon Musk selling his new electronic music track as NFT as frenzy around the blockchain tokens intensifies

Tesla CEO Elon Musk recently tweeted a video for a song about NFTs, saying he would sell it as an NFT. Photo: Reuters/Hannibal Hanschke

Tesla’s billionaire CEO Elon Musk is given the added title of ‘Technoking’ and unveils NFT-themed song

In this Dec. 1, 2020, file photo, Tesla CEO Elon Musk arrives on the red carpet for the Axel Springer media award, in Berlin. Photo: AP

What is NFT art and who is ‘riding the crypto wave’? Elon Musk’s girlfriend Grimes and billionaire Mark Cuban are in on digital art as sales soar into the millions

The Bitcoin Angel, now available as an NFT “open edition”, and an oil canvas of UFC fighter Conor McGregor – two digital artworks released on sale by Trevor Jones. Photo: Trevor Jones

Conor McGregor, oil on canvas drawn by Trevor Jones. Photo: Trevor Jones

A commission for Bill Hare drawn by Trevor Jones. Photo: Trevor Jones

Part of Tom Hanks Beating the S*** Out of Coronavirus by Mike Winkelmann, otherwise known as Beeple. Photo: Beeple

Everydays: The First 5000 Days by Beeple is up for auction on the Christie’s website. Photo: Christie’s

Part of Bear Land by Mark Sabb for Felt Zine. Photo: Felt Zine

Elon Musk says bitcoin prices ‘seem high’ after market value of cryptocurrency crosses US$1 trillion for the first time

Tesla CEO Elon Musk’s tweets have fuelled bitcoin’s rise over the past few weeks. Photo: Reuters

Lifestyle

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The Tesla boss, who is a fan of cryptocurrencies and blockchain technology, shared a short video of the NFT song
NFTs are digital deeds granting ownership of a digital file; Musk’s girlfriend Grimes recently sold NFT artworks for US$6 million



Musk tweeted a video of the dance music track, full of references to NFT – digital deeds which grant ownership of digital files, including songs and artworks. A piece of NFT art recently sold for US$69 million.


Fame and celebrity

Tesla

NFTs

Tech CEOs