Elon Musk sells NFT of his tweet with one bidder offering $1.1 m

Billionaire Tesla employer Elon Musk announced he would sell one of his tweets as a “non-fungible token” or NFT – and somebody has already bid more than $1.1 m for the art.

On Monday, Mr Musk tweeted out a brief video of a techno song playing over a looping image of a spinning prize. The words “HODL” – a cyrptocurrency meme short for keeping a currency instead of selling – “Vanity Prize,” “NFT,” and “Never Sleep Computers” appear on the trophy.

” I’m selling this tune about NFTs as an NFT,” Mr Musk composed with the tweet.

The tune consists of the lyrics “NFT for your vanity. Computer systems never ever sleep. It’s validated. It’s ensured.”

NFTs are essentially certificates of authenticity that show a private owns a digital product, usually an art piece. An NFT recently cost $69m at Christie’s auction.

So far, the greatest bid on Mr Musk’s tweet, tune, caption and video is $1.12 m from Sina Estavi, CEO of Bridge Oracle.

According to the “Valuables” blockchain social networks platform where the NFT is listed for sale, the tweet will “continue to live on Twitter” but whoever wins the quote would own the NFT, which would obviously be signed and verified by Mr Musk.

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Mr Musk’s better half, singer and musical artist Grimes, offered NFTs for a series of 10 art pieces for $6m 2 weeks earlier.

Jack Dorsey, the CEO of Twitter, also sold his very first tweet as an NFT for $2.5 m. That tweet was also purchased by Mr Estavi.

Mr Musk is a significant proponent of cryptocurrency and other blockchain technologies.

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