Elon Musk Takes A Dig At NFT Buyers, Suggests They Are Hallucinating

Tesla Inc. TSLA CEO Elon Musk is a big supporter of Dogecoin DOGE/USD, but the tech tycoon has shown his dislike for non fungible tokens (NFTs) by taking a dig at NFT buyers.

What Happened: Musk apparently suggested that NFT buyers are hallucinating when he tweeted a photo of a man being counseled by a therapist and asked whether NFTs were also in the room.

Musk’s dig at NFT buyers also comes after digital artist Mike Winkelmann, popularly known as Beeple, gifted a Musk NFT to podcast star Joe Rogan on Tuesday.

A video of the podcast on YouTube shows Beeple gifting Rogan a white box with a physical NFT artwork of Musk as a hulk in his underwear taking the Dogecoin mascot for a walk. The NFT was from Beeple’s spring collection released this year.

See Also: How To Buy Dogecoin

Why It Matters: Earlier this month, Musk criticized NFTs in response to a tweet by Dogecoin co-founder Billy Markus about the proliferation of scams within the cryptocurrency industry, saying that NFTs “are jpeging the dollar.”

Musk had also mocked proponents of Web 3.0 by sharing a meme on Twitter. He posted a three-panel version of the famous "Urinal Etiquette" cartoon.  

It may be recalled that Beeple had offered to pay Musk $69 million for Musk’s song about NFTs that was put up on sale as an NFT earlier this year, but Musk wanted to be paid 420 million dogecoins instead.

Musk’s asking price of 420 million DOGE, which equated to $24 million at that time, was significantly less than Beeple’s offer and was seemingly a reference to cannabis slang. Musk is a big proponent of Dogecoin.

NFTs, blockchain-based tokenization of collectible items or art pieces, allow users to own digital assets like retail estate, art, digital sneakers, and video moments.

NFTs are the hottest cryptocurrency trend of the year and are seeing strong sales volume on NFT marketplace OpenSea.

Price Action: Tesla’s shares closed 1.8% higher in Wednesday’s regular trading session at $975.99 and further gained 1.4% in the after-hours session to $990.00.

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Posted In: CryptocurrencyNewsMarketsElon MuskNFTNFTsNon fungible token