The cost of Elon Musk’s tweet about the sale of a song about NFT rose to $1.1 million

The CEO of Tesla and SpaceX, Elon Musk, put up for auction a musical composition about non-replaceable tokens (NFT) in the form of such a collectible token. Its price has already risen to $1.12 million.

To his tweet about the sale of the song, Musk attached a video with a rotating gold trophy decorated with Shiba Inu dogs, which symbolize the Dogecoin coin. At the top of the trophy is a table with the inscription NFT, under it is the Moon, which can be regarded as an allusion to the phrase “To the moon”, and below there are the inscriptions Vanity Trophy (“Prize for vanity”) and Computers never sleep (“Computers never sleep”). The music track repeats the words: NFT for your vanity, computers never sleep, it’s verified, it’s guaranteed (“NFT for your vanity, computers never sleep, it’s confirmed, it’s guaranteed”). Also on the rotating “structure” is the abbreviation HODL, referring to the owners of cryptocurrencies that buy them for long-term storage.

I’m selling this song about NFTs as an NFT

— Elon Musk (@elonmusk) March 15, 2021

Musk’s tweet is being auctioned as an NFT via the Valuables service. The cost of the tweet has already increased to $1,121,000. This bid was again offered by the “collector of NFT-tweets” – CEO of the Malaysian startup Bridge Oracle Sina Estavi (Sina Estavi). He recently took part in an auction to sell an NFT tweet posted by Twitter founder Jack Dorsey. Estavi offered $2.5 million for Dorsey’s tweet. The auction runs until March 21, and Dorsey plans to spend the proceeds on charity. Perhaps Musk will also find a good use for the million dollars raised from the sale of his NFT.

In the comments, cryptocurrency skeptic Peter Schiff recommended to Musk that Tesla buy this NFT from him for bitcoins. Schiff joked that Tesla shareholders would be very happy to add to their collection of digital tokens.

Why not just have #Tesla buy it? It can pay you in #Bitcoin. I’m sure shareholders would be happy to add this to their collection of digital tokens.

— Peter Schiff (@PeterSchiff) March 15, 2021

NFTs have become very popular, especially among celebrities who are willing to launch their art or music pieces in the form of collectible tokens. However, the creator of Litecoin, Charlie Lee, criticized the NFT industry, comparing it to the ICO boom in 2017. Lee suggested that sooner or later the prices of collectible tokens will collapse.