Elon Musk sings the praises of NFTs in a new song

IT was only a matter of time before Elon Musk got involved in the currently booming market for NFTs. The CEO of Tesla and SpaceX took to Twitter to announce that he is selling a techno song about non-fungible tokens as an NFT.

The slightest tweet from Elon Musk is pored over by millions of tech fans. And his latest offering -- in which he announces the release of a new single -- is no exception. While the hype surrounding NFTs continues to grow, following the record-breaking sale of a digital artwork by Beeple at Christie's, the South African-born billionaire has come up with a techno track about non-fungible tokens. The track features a female voice murmuring phrases about this new technology, like "NFT for your vanity" or "Computers never sleep. It's verified, it's guaranteed."

Although Elon Musk is yet to reveal the title of his single, he has told his followers that he plans to sell it as an NFT. The news is perhaps not particularly surprising given that his partner, Canadian singer Grimes, previously auctioned some of her digital creations as NFTs in February for almost US$6 million.

A 2.5-million-dollar tweet

Non-fungible tokens have boomed in popularity in recent months, driven by cryptocurrency enthusiasts, artists and musicians looking to turn a profit from this new way of buying and selling digital objects based on blockchain technology. It's a field that Elon Musk seems to be particularly interested in, if his recent declarations in favor of Bitcoin and Dogecoin are anything to go by.

While the entrepreneur is taking advantage of the current NFT craze to rekindle his love of music -- a year after the release of "Don't Doubt ur Vibe" -- other tech giants are joining him in this fast growing market. Twitter co-founder Jack Dorsey, for example, recently put his first ever tweet up for sale via the Valuables platform. Currently, a potential buyer with the username @sinaEstavi has the highest bid, at US$2.5 million. While the auction is ongoing until March 21, Jack Dorsey has already announced that he will be converting revenue from the sale into Bitcoin that he will then donate to the GiveDirectly nonprofit.