CoinFlip CEO Daniel Polotsky asks Elon Musk to place his company’s ATMs at Tesla dealerships and discuss his prospects for the cryptocurrency.
Elon Musk is selling a new techno track that he produced on non-fungible tokens, or NFTs, as an NFT.
An NFT is a unique digital token that can turn any item in the digital world from tweets to Gifs and videos into a collectible asset. Like Bitcoin and other cryptocurrencies, NFTs are sold and bought through the blockchain. Non-fungible tokens verify authenticity and ownership by encrypting the creator’s signature on the blockchain.
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Musk, who recently declared Tesla’s “technoking” in a lawsuit with the Securities and Exchange Commission, shared the song in a tweet on Monday.
The looping video features a trophy with a golden sphere affixed to the top and which has the words “Vanity Trophy” orbiting around it. The bottom of the trophy shows the letters “HODL”, short for the phrase “wait for your life”, which is most commonly used by investors who invest in bitcoin and other cryptocurrencies. Just above the HODL, small gold dogs and coins revolve around the trophy, probably representing Dogecoin.
At various points in the short video, the words throughout the trophy change from “computers” to “never sell”, while a vocalist sings lyrics over the top like “NFT for her vanity” and “computers never sleep”.
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The NFT track comes after the release of Musk’s electronic dance music track called “Don’t Doubt ur Vibe” on Spotify earlier this year. Musk also released a song called RIP Harambe in 2019 about the gorilla at the Cincinatti zoo of the same name, who was killed in 2016 after a 3-year-old boy entered his enclosure. Musk released the tracks under the name Emo G Records.
Musk acknowledged being a “bitcoin supporter” when asked about his thoughts on cryptocurrencies during an interview broadcast live on the popular audio chat app Club House on February 1.
“A lot of my friends tried to convince me to get involved with bitcoin for a long time,” he said.
In addition, Tesla said in a document to the SEC last month that it was investing $ 1.5 billion in bitcoin to “diversify and further maximize” the return on its cash. The company also noted that it hopes to start accepting bitcoin as a form of payment for its cars in the “near future”.
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The tweet of the song NFT is being sold on a platform called Valuables. The new digital equipment is built at blockchain stores Ethereum and Matic Network that allow users to tokenize and sell individual tweets.
“Owning any digital content can be a financial investment, have sentimental value and create a relationship between collector and creator,” said Valuable on his FAQ page. “Like an autograph on a baseball card, the NFT itself is the creator’s autograph on the content, making it scarce, unique and valuable.”
Anyone can put their public tweets up for sale using Valuables, and 95% of the money raised will go to the original creator of the tweet, while the rest will go to the company. For secondary sales, 87.5% go to the seller, 10% go to the creator and 2.5% go to Valiosos.
The money is automatically credited to the seller’s encrypted wallet when he agrees to sell. It usually takes an hour for the transaction to complete on the Ethereum network.
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According to Valuable’s digital tweet auction, the highest bid for NFT music is currently at $ 100,000 from the Twitter user Amir Soleymani.
Soleymani said his offer for the song was “a strategic move, in addition to just laughing”, claiming that Musk “will never sell or accept an offer to sell his tweets”.
“So, PPPlease, don’t take everything seriously,” added Soleymani. “No [ethereum] It has been paid. It’s just a move. “
Other Musk tweets posted on Valuable include a Lion King meme with a current bid of $ 3,500 and a tweet for an eggplant with a current bid of $ 20,000. Others who took advantage of the NFT craze include Twitter CEO Jack Dorsey, who is selling his first tweet, Tampa Bay Buccaneers, tight end Rob Gronkowski, who is selling digital stickers, and the NBA market for featured rollers, Top Shot, which sold a Lebron James clip spoiling a quick break for $ 100,000.