Non-fungible tokens have been around for some time. But they are currently the rave of the moment. Early this month, Justin Sun offered $500,000 for Jack Dorsey’s first ever published tweet. Now, Elon Musk has just created his first ever NFT. The SpaceX founder took to Twitter last night to make the announcement that “I’m selling this song about NFTs as an NFT,” he wrote.
I’m selling this song about NFTs as an NFT pic.twitter.com/B4EZLlesPx
— Elon Musk (@elonmusk) March 15, 2021
Highest Bidder so Far
Elon Musk minted the NFT by placing his tweet on Cent, a platform that tokenizes tweets and allows people to place bids on such NFTs. The highest bidder takes ownership of the post as the data of the post is recorded on Ethereum. As the time of writing this, the highest bid on Musk’s NFT is about 625.64 ETH (about $1.121M) placed by Sina Estavi, CEO of Bridge Oracle.
Cent is growing increasingly popular as far as NFT goes. Jack Dorsey, CEO of Twitter and Square, tokenized his ever tweet. The proceeds from the NFT sale would be converted to BTC and Give Directly Africa Response.
Elon Musk and NFT
Musk is yet to comment on quite a number of things per his NFT: the price for his NFT, the song creators as well as whether or not the money from the sale of his NFT would go to charity.
Musk may have learned about NFT from his girlfriend, who goes by the stage name Grimes. Her first NFT collection was sold on Nifty Gateway for $6 million. Nifty Gateway is a dedicated marketplace for NFTs and it is valued at around $775 million to $1.2 billion, a report by Messari reveals.