All the trendy aspects of the crypto space — non-fungible tokens, institutional adoption of Bitcoin, the quirkiness of Dogecoin — have found a home with Tesla CEO Elon Musk.
In a tweet today, the billionaire claimed he would be selling a musical non-fungible token, or NFT, with lyrics based on the hype surrounding the technology: "It’s verified, it’s guaranteed." The video clip playing the song features a pair of diamond hands underneath the moon with Shiba Inu dogs — likely a reference to Dogecoin — circling.
I’m selling this song about NFTs as an NFT pic.twitter.com/B4EZLlesPx— Elon Musk (@elonmusk) March 15, 2021
Though the song is seemingly not yet available on any major marketplace, crypto users have already found a way to test its apparent value — by tokenizing the tweet itself.
The Musk tweet is currently listed as an NFT on the Valuables platform, which allows Twitter users to make an offer on digital versions of any tweet. Less than an hour after Musk wrote about the song, the bidding rose from $3 to $100,000 and included offers from WSBChairman and NFT curator Loopify.
At the time of publication, the highest bid of $100,000 is from Twitter user mondoir — an Iran-based Bitcoiner. They claim to have not locked in any amount of Ether (ETH) for their bid — roughly 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 were to accept any offer on the tokenized tweet, he would receive 95% of the ETH offer in a wallet address he provides "within an hour."
Though it’s unclear if Musk intends to list the NFT for sale on a marketplace like Nifty, the offering may be related to a recent Tesla filing with the U.S. Securities and Exchange Commission. Musk said he would retain his title as CEO, but also referred to himself as the "Technoking of Tesla."