Elon Musk, Tesla’s CEO and SpaceX founder, announced on March 16 that he would sell NFT. This particular NFT is “Song about NFT” and has received widespread attention from potential investors.
Highest Bid Worth $1.1 Million
Musk didn’t provide a link to the asset in the tweet, but it appears to have been sold on the Valuables platform. At the time of going to press, the highest bid was at 625 ETH, valued at more than $1.1 million.
Interestingly, the highest bid was placed by the user SinaEstavi. The user also offered the highest NFT bid on Twitter CEO Jack Dorsey’s first tweet, which was $2.5 million.
Like a joke, digital artist Beeple offered the same price for this song. Beeple made headlines earlier this year when it sold NFTs for up to $69 million.
The NFT in question has a strong electronic music atmosphere with words and phrases like “HODL” and “Vanity Trophy”. This includes Dogecoin’s Shiba Inu mascot, which Musk has posted on Twitter several times in the past.
Musk is also one of the most famous proponents of cryptocurrency, having bought $1.5 billion worth of Bitcoin (BTC) for Tesla. Like many others, he believes that Bitcoin has value as a medium of exchange and is therefore suitable as a modern form of digital currency.
Musk’s partners, musicians, and supporters nicknamed Grimes also studied NFT. She sold a digital art collection called WarNymph for $5.8 million last month. The series can be used on the Nifty Gateway platform and sells out in just 20 minutes.
These NFT market platforms are developing rapidly. Sports collectibles can easily become one of the top niches.
The NFT Continues to Explode on a Large scale
NFTs has quickly become mainstream and has become one of the most popular niche markets in the cryptocurrency space. The number of Google searches for NFTs even exceeds that of DeFi.
Several artists have started using it, but mainstream adoption has found a strong presence in the sports arena. Multiple teams are considering or have all implemented NFT solutions for products, key products, and exclusive offers. This includes NBA Top Shot, which ties NBA highlights to NFT and gives owners exclusive ownership of content.
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