Elon Musk declines offer over $1 billion to sell his techno song about NFTs

SpaceX and Tesla chief Elon Musk recently tweeted a song with lyrics, "NFT for your vanity. Computers never sleep It's verified. It's guaranteed." He declined the offer to sell this as a non-fungible token (NFT) on Tuesday (March 16). The tweet received an offer of more than $1 billion for the digital asset. 

Elon Musk in a tweet said, "I am selling this song about NFTs as an NFT." The tweet also featured a small video in a loop that displayed "Vanity Trophy" with NFT at the top and HODL at the bottom. HODL is a term used by cryptocurrency lovers and retail investors to encourage peers to hold to a coin or shares in a company, instead of selling it off. 

Elon Musk changed his mind on Tuesday (March 16) about selling NFT and said in a tweet "Actually doesn't feel quite right selling this. Will pass."

I’m selling this song about NFTs as an NFT pic.twitter.com/B4EZLlesPx

— Elon Musk (@elonmusk) March 15, 2021

Elon Musk did not attach a link to the NFT, and thus it was unclear if it was already live or he plans to initiate the sale in future. NFTs are unique cryptocurrency tokens used to represent digital property, including video clips and jpegs. NFTs can be bought and sold, just like we seel a physical asset in real-time. NFTs run on the blockchain and thus a decentralised blockchain ledger documents transactions, ownership and the validity of the asset the NFTs represent can be tracked.