Elon Musk, CEO of Tesla and SpaceX, has withdrawn an offer to sell one of his tweets as a non-tradable symbol, or NFT, even though bidders are offering more than $ 1 million for the digital asset.
"I'm selling this song on NFT as an NFT, and the tweet contains a song with lyrics," Musk said in the tweet.
The tweets for sale also included a short video explaining the terms NFT and HODL.
HODL is a term used by cryptocurrency advocates to encourage clinging to coins rather than selling them.
The next day, Musk changed his mind and tweeted, "I'm not happy to sell it."
The unique NFT coding code is used to represent digital assets including photos and videos and can be bought and sold as physical assets.
The unique encrypted NFT token is executed through a decentralized, or blockchain, digital ledger. This means that the transaction, ownership, and validity of all assets represented by the NFT can be tracked.
Musk's tweets (including his subtitles, videos, and songs) are sold by NFT through Valuables, a platform published by the social media network blockchain Cent.
According to the platform, the highest bid Musk made for a tweet is $ 1,121,000.
As we all know, Musk recently acquired digital assets like Bitcoin and Dogecoin.
In February, Tesla announced that it had purchased $ 1.5 billion worth of Bitcoin and may continue to acquire the cryptocurrency.
Mask NFT's speech helped thousands of Twitter followers distract from news of major changes by Tesla employees and the federal investigation into the Tesla car accident in Detroit last weekend.
The Federal Vehicle Safety Administration (NHTSA) announced that it will send a team to Detroit to investigate the cause of the March 11th violent accident involving Tesla vehicles and tractor units.
The US Securities and Exchange Commission has warned investors over the past few months not to buy or sell stocks and other assets based on information shared on social media platforms.
He also cautions investors against purchasing niche stocks or other assets simply because celebrities are involved in the transactions.
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| Musk refuses to sell his tweet as NFT |