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Elon Musk, founder and chief engineer of SpaceX speaks at the 2020 Satellite Conference and Exhibition on March 9, 2020 in Washington, DC.
Win McNamee | Getty Images
Tesla and SpaceX CEO Elon Musk on Tuesday withdrew the offer to sell one of his tweets as a non-fungible token (or NFT), even though a bidder had offered more than $ 1 million for it. digital asset.
Musk said on Monday in a tweet, “I’m selling this song on NFT as NFT.” The social media post he put up for sale included a song with the lyrics, “NFT for your vanity. Computers never sleep. It’s verified. It’s guaranteed.”
The tweet for sale also contained a short video loop, which featured a trophy titled “Vanity Trophy” with the term “NFT” at the top and “HODL” at the bottom. HODL is a cheer used by cryptocurrency fans and retail investors to encourage their peers to hold a coin or shares in a business, rather than sell.
Musk changed his mind on Tuesday, saying in a tweet, “Actually, he doesn’t feel quite good selling this. Go pass.”
NFTs are unique crypto tokens used to represent digital assets, including images and video clips. They can be bought and sold as physical collectibles. NFTs operate on a decentralized digital ledger, or blockchain, which means that the transactions, ownership, and validity of any asset represented by an NFT can be tracked.
Musk’s tweet, including his caption, video, and song, was listed for sale as NFT on “Valuables,” a platform published by Cent, the blockchain-based social media network. According to Valuables, the latest highest bid on the Musk tweet was $ 1,121,000, from a Twitter user with the handle @SinaEstavi.
The Experimental CEO is known for his endorsement of digital assets lately, including bitcoin, Dogecoin and now NFTs. In February, Tesla revealed that it had purchased $ 1.5 billion worth of bitcoin and may continue to make cryptocurrency acquisitions.
Musk’s romantic partner, a musician known as Grimes, has also sold around $ 6 million worth of his digital works after putting them up for auction in recent weeks.
His buzz-generating NFT offer on Monday helped Musk distract his tens of millions of Twitter followers from the news of staff changes in senior Tesla ranks and a federal investigation into a Tesla crash in Detroit. at the end of last week.
On Monday, financial documents revealed that former Tesla Automotive chairman Jerome Guillen would be stepping down to become Tesla chairman of Heavy Trucking, instead. Tesla has yet to announce a successor to Guillen for the post of Auto president.
On the same day, the Federal Vehicle Safety Authority, NHTSA, said it would send a team to Detroit to investigate the underlying causes of a “violent” accident that occurred on March 11 involving a Tesla sedan and a semi-truck. The investigation is now underway.
In recent months, the U.S. Securities and Exchange Commission has warned investors against buying or selling stocks and other assets based on information shared on social media. The financial regulator has also warned investors against buying shares of PSPC, or other assets, simply because of celebrity involvement in the deal.
– CNBC Make It reporter Taylor Locke contributed to this story.
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