[ad_1]
CoinFlip CEO Daniel Polotsky asks Elon Musk to install his company’s ATMs at Tesla dealerships and discusses his cryptocurrency outlook.
Elon Musk is selling a new piece of techno music that he produced on non-fungible tokens, or NFT, as NFT.
An NFT is a unique digital token that can turn any element of the digital world, from tweets to Gifs to videos into a collectible asset. Like Bitcoin and other cryptocurrencies, NFTs are bought and sold through the blockchain. Non-fungible tokens verify authenticity and ownership by encrypting the creator’s signature on the blockchain.
OFFICIALLY DECLARED ELON MUSK TECHNOKING FROM TESLA
Musk, who recently declared himself “technoking” Tesla in a Securities and Exchange Commission filing, shared the song in a tweet on Monday.
The looping video features a trophy with a golden orb affixed to the top of it that has the words “Vanity Trophy” orbiting it. The bottom of the trophy shows the letters “HODL,” short for the phrase “hold on for life,” which is most commonly used by traders who invest in bitcoin and other cryptocurrencies. Just above the HODL, small gold dogs and coins circle the trophy, presumably representing Dogecoin.
At various points in the short video, the words along the trophy switch from “computers” to “never sell” as a singer sings lyrics like “NFT for your vanity” and “computers never sleep”.
HISTORICAL JACK DORSEY TWEET REACHES $ 2.5M ON DIGITAL AUCTION
The track NFT follows the release of Musk’s electronic dance music track titled “Don’t Doubt ur Vibe” on Spotify earlier this year. Musk also released a song called RIP Harambe in 2019 about the Cincinatti Zoo gorilla of the same name, which was killed in 2016 after a 3-year-old boy climbed into his enclosure. Musk released the tracks under the name Emo G Records.
Musk admitted he was a “bitcoin supporter” when asked about his thoughts on cryptocurrencies during a live interview on the popular Club House audio chat app on February 1.
“A lot of friends of mine have been trying to convince me to get involved in bitcoin for a long time,” he said.
Additionally, Tesla said in an SEC filing last month that it was investing $ 1.5 billion in bitcoin to “further diversify and maximize” the return on its cash. The company also said it plans to start accepting bitcoin as a payment method for its cars in the “near future.”
GET FOX BUSINESS ON THE ROAD BY CLICKING HERE
The NFT song’s tweet is sold on a platform called Valuables. The new digital outfit is built on the Ethereum and Matic Network blockchain outlets, which 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,” Valuable said on its Frequently Asked Questions page. “Like an autograph on a baseball card, the NFT itself is the creator’s autograph on the content, which makes it rare, unique and valuable.”
Anyone can put their public tweets up for sale using Valuables, and 95% of the money earned will go to the original creator of the tweet, with the rest going to the company. For secondary sales, 87.5% goes to seller, 10% goes to creator, and 2.5% goes to Valuable.
The money is automatically credited to the seller’s crypto wallet when he agrees to sell. The transaction usually takes an hour on the Ethereum network.
CLICK HERE TO LEARN MORE ABOUT FOX BUSINESS
According to the Valuable tweet’s digital auction, the highest bid for the NFT song currently stands at $ 100,000 per Twitter user. Amir Soleymani.
Soleymani said his offer for the song was “a strategic move and just for a laugh,” saying Musk “will never sell or take an offer to sell his tweets.”
“So PP, please don’t take everything seriously,” Soleymani added. “No [ethereum] has never been paid. It’s just an offer. “
Musk’s other tweets posted on Valuable include a Lion King even with a current offer of $ 3,500 and a tweet of an eggplant with a current offer of $ 20,000. Others who have capitalized on the NFT craze include Twitter CEO Jack Dorsey, who sells his very first tweet, Tampa Bay Buccaneers rapper Rob Gronkowski, who sells digital collectible cards, and The Market from the NBA for Best Rolls, Top Shot, which sold a clip of Lebron James spoiling a quick break for $ 100,000.
[ad_2]
Source link