Tesla Inc TSLA CEO Elon Musk’s song about NFTs, which he put up on sale as a non-fungible token on Monday has found a taker in the artist Mike Winkelmann, popularly known as Beeple.
What Happened: Beeple offered Musk $69 million for the catchy song but Musk wanted to be paid 420 million Dogecoin DOGE/USD instead.
It is notable that Musk’s asking price of 420 million DOGE equals $24 million, which is significantly less than Beeple’s offer.
Even the tweet announcing the sale of the song was put on sale on v.cent, a marketplace for buying and selling Tweets.
At press time, the highest bid on that tweet was ETH 153.48 or $275,000.
DOGE traded 2.68% lower at $0.057 at press time, while Ethereum ETH/USD was down 6.77% at $1,759.12. The apex cryptocurrency Bitcoin BTC/USD traded 9.3% lower at $54,580.57.
See also: How to Buy Dogecoin (DOGE)
Why It Matters: Beeple himself sold an NFT artwork titled “The First 5000 Days” for $69 million last week through the auction house Christie’s.
Musk’s price tag of 420 million DOGE is seemingly a reference to cannabis slang which refers to smoking the psychoactive drug at 4:20 pm.
NFTs have been gaining momentum of late with 2010’s memes “Grumpy Cat” and “Bad Luck Brian” selling for $83,463.74 and $36,000 recently on the Foundation marketplace.
A Banksy piece, whose original was destroyed by cryptocurrency enthusiasts, went for $394,000 as a digitalized NFT at an auction this month.
Musk’s partner — the Canadian artist Grimes — too has sold NFT artwork and so has Lindsay Lohan.
See also: What is a Non-Fungible Token (NFT)?
Price Action: Tesla shares closed 2.05% higher at $707.94 on Monday and fell 0.84% in the after-hours session.
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