Elon Musk turns down $1 million offer to buy his tweet as an NFT

Yesterday, Tesla Elon Musk joined the NFT craze with the announcement that he was selling a digital song about NFTs (non-fungible token) as an NFT. Twitter was ablaze as the bid on his NFT   already drew over a $1 million bid. A bidder had offered more than $1 million for Elon Musk’s tweet which includes the techno song and video clip accompanying it.

Now, Musk seems to have a change of mind and the NFT will not be selling the after all. This evening Musk tweeted to his 49 million fans saying “Actually, doesn’t feel quite right selling this. Will pass.” Many were hoping Musk would sell NFT and give the money to charity.

Actually, doesn’t feel quite right selling this. Will pass.

— Elon Musk (@elonmusk) March 16, 2021

Musk’s decision to cancel the auction was met with mixed reactions. One of Musk’s fans responded with the following: “On behalf of everyone who has ever struggled to sell their art, we thank you for not binking another 10m out of the art market with this.”

on behalf of everyone who has ever struggled to sell their art, we thank you for not binking another 10m out of the art market with this.

— sonatine (@lolstockaments) March 16, 2021

Musk is the latest in a series of celebrities and tech billionaires to sell NFT. Last week, Twitter founder Jack Dorsey auctioned off his first tweet as an NFT. So far, the auction has drawn a $2.5 million bid. Below is the song Musk is selling as NFT.

NFT (non-fungible token) is a type of cryptographic token on a blockchain network that represents a unique digital asset. This asset can either be entirely digital assets or tokenized versions of real-world assets. Because NFTs are not interchangeable with each other, they may function as proof of authenticity and ownership within the digital realm, for example as proof of the authenticity of rare art.