This is what the pinnacle of Internet culture looks like. Elon Musk, the CEO of Tesla and SpaceX, has a new job title: techno king.
Musk has joined the NFT gold rush by selling a new electronic music track that he appears to have produced as an NFT. To put it another way, he’s selling a non-fungible token as a non-fungible token.
Musk didn’t offer a link to the NFT, so it’s unclear whether it’s already operational or whether he wants to start selling it later. It’s also unclear on which platform Musk plans to sell the NFT, but he has a list of interested parties. Musk’s Twitter bio has also been updated to include the phrase “Technoking of Tesla.”
The billionaire did, however, include a looping video to the news tweet Musk sent out. The words “Vanity Trophy” circle around a golden orb placed to the top of an actual trophy saying “HODL,” which stands for “hold on for dear life,” in the video.
‘HODL’ isn’t just a catchphrase Musk coined for his music video: While the term is considered to have begun as a drunken misreading of the word “keep,” it is now both online slang and a rallying cry for bitcoin aficionados encouraging them not to sell their cryptocurrency tokens.
Musk may already have a buyer in the form of digital artist Beeple, who just sold an NFT.
They might even have struck a bargain.
Christie’s announced on Wednesday that it has sold a digital collage by an artist named Beeple for about $70 million, an unprecedented sale of a digital artwork that outfetched tangible works by many more well-known artists.
In an online auction, the piece, titled “Everydays: The First 5,000 Days,” sold for $69.4 million, “ranking him among the top three most valuable living artists.”
It’s also the first time a major auction house has offered a digital-only artwork with a non-fungible token as a guarantee of authenticity, as well as the first time cryptocurrency has been used to pay for an artwork at auction, according to Christie’s.
However, there may be other buyers – even if it’s just for the tweet itself. On Twitter’s Valuables platform, the tweet is presently categorised as an NFT, which allows users to make offers on digital versions of any tweet.
According to Coin Telegraph, the highest bid of $100,000 was made by Twitter user mondoir, a Bitcoiner from Iran.
“We all know Elon Musk will never sell or accept an offer to sell his tweets,” says one Twitter user “On Twitter, mondoir wrote: “My offer to buy his tweet was both a strategic move as well as just to laugh.”
Grimes, Elon Musk’s girlfriend, also just launched and sold her digital art collection for $5.8 million in minutes. The ‘WarNymph’ art collection was released on February 28 and sold for $5.8 million (Rs 424,891,760). Within 20 minutes, the ten artworks on the block were auctioned off.
Grimes announced the sale of her crypto art via the Nifty Gateway platform using non-fungible tokens, or NFTs. NFTs, which are a special form of digital asset or token, have helped to boost the crypto-art market, which is now worth more than $100 million.