Billionaire Elon Musk, one of the wealthiest men in the world, has turned down $1 million for a tweet he sold. This comes after SpaceX’s founder and Tesla said he was selling a song “NFTs as an NFT.” On the NFT platform, Sina Estavi, the Chairman and CEO of Bridge Oracle, borrowed $1.12 million from Valuable.

Elon Musk’s tweet about NFT

The eccentric billionaire Elon Musk has just turned $1 million away from his tweet, which he was selling as a non-fungible token (NFT), which, according to Bloomberg, is now worth $175 billion, for the world’s second-richest man. Musk tweeted on 16 March that he “sells this NFT song as NFT.” 

A two-minute video with an electronic dance track with the NFT topic was added to the tweet. The tweet, the video, the title and the NFT on ‘Valuables’ were later listed, a platform published by Cent — an on-blockchain social media network. Sina Estavi, the chief executive officer of Bridge Oracle, is the highest offer of 1.12 million dollars.

Elon Musk

Elon Musk on Twitter: “I’m selling this song about NFTs as an NFT… “

The tweet, the video and the title were then listed as an NFT on the “Valuables,” a platform that is released by Cent – a blockchain social network. And Sina Estavi, the chief executive officer of Bridge Oracle, has the highest offer of 1,12 million dollars. But Elon Musk seems his mind has changed. 

“It doesn’t really feel right to sell that, actually. Elon Musk told another March 16 tweet, “Will pass.” The flourishing of Musk’s announcement activity has, according to CNBC, distracted his Twitter followers from the news that Tesla and the ongoing Federal Sample have changed their staff to Tesla, the last week’s Tesla crash in Detroit, USA.

What are NFTs?

Non-fungible tokens or NFTs are a particular kind of digital device but are different from digital currencies. You cannot exchange them for the same value with each other or divide them down as most currencies in small values. There is no equal to two NFTs. They are distinguished by their unique qualities and authenticity—a sort of collector’s item.

The founders of SpaceX and Tesla are only the latest ones to sprinkle into the NFT car. NFT-based consumer goods and services are also generated by global brands like Nike and Louis Vuitton.

According to a 2020 report from the tech tracking firm L’Atelier BNP Paribas, the NFT market is estimated to be $250 million. And the creators of NFT earn big dollars. Musk’s partner, a Grimes name musician, sold his WarNymph digital collection in less than 20 minutes for 5.8 million dollars.

Why NFT is worth millions of dollars?

The non-flamboyant tokens or NFTs are hotter now in May than a barbeque. This is why the world in the last month was NFT-crazy. NFTs are a class of cryptocurrency assets, however, in which each item or token is completely distinct. As a currency, they are useless but very useful for other things.

In recent months, NFTs have once been an obscure component of blockchain technology thanks to the spread of most corners of art, entertainment and the media. They are used by the NBA for the sale of videos. 

Artists sell digital works with them. Musicians retain royalties with them. The CEO of Twitter even uses tweets to sell them. The excitement is driven to a large extent by an idea that cannot be fully appreciated: ownership of a digital asset or a sense of ownership at least.

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