Tesla’s Elon Musk to market a techno track as NFT

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Elon Musk, the billionaire founder of electric vehicle maker Tesla, programs to sell a track he posted online as a good non-fungible token (NFT) as the blockchain-authenticated digital tokens gain traction.

Mr Musk, who recently declared himself the technoking of Tesla, shared the 140-second melody in a tweet that has been viewed by over 6.1 million people.

“I’m selling this song about NFTs as an NFT,” the billionaire tweeted. “I love music. It makes my heart sing.”

Mr Musk’s song is a techno monitor that refers repeatedly to the digital-only property, saying “NFT for your vanity, computers never sleeping, it's verified, it's guaranteed”.

The song includes a rotating golden trophy with the text ‘vanity trophy’ circling around it. It also displays ‘HODL’ (hold on for dear existence) in the bottom that is normally commonly used by traders who spend money on digital assets.

An NFT is a distinctive digital token that may turn any item found in the digital world from tweets to gifs and from artworks to clips right into a tangible asset. Like Bitcoin and different cryptocurrencies, they can be purchased and brought through the blockchain.

They aren't interchangeable and their authenticity is verified by encrypting the creator's signature on the blockchain. They usually are created by uploading files to online auction systems like Valuables.

"Owning any digital articles could be a financial investment, carry sentimental benefit and create a marriage between collector and creator," said Valuables.

"The tweet itself will continue steadily to live on Twitter ... everything you are purchasing is usually an electronic certificate of the tweet, unique since it has got been signed and verified by the creator.”

Mr Musk didn't include a connect to the NFT in his tweet, so it isn't clear when he's looking to sell and on which platform.

Tesla's stock closed 2.05 % up at $707.94 per share on Monday.

Tesla aims to invest a portion of its profit alternative assets including digital possessions, gold bullion and gold exchange-traded funds since it diversifies its holdings.

Last month, it reported on a filing that it will soon accept Bitcoin as payment because of its electrical vehicles and has invested $1.5 billion in the biggest cryptocurrency.
Source: https://www.thenationalnews.com

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