Elon Musk, the billionaire founder of electric vehicle maker Tesla, plans to sell a song he posted online as a non-fungible token (NFT) as the blockchain-authenticated digital tokens gain traction.
Mr Musk, who recently declared himself the technoking of Tesla, shared the 140-second song in a tweet that has been viewed by over 6.1 million people.
“I’m selling this song about NFTs as an NFT,” the billionaire tweeted. “I love music. It makes my heart sing.”
Mr Musk’s song is a techno track that refers repeatedly to the digital-only assets, saying “NFT for your vanity, computers never sleep, it's verified, it's guaranteed”.
The song features a rotating golden trophy with the text ‘vanity trophy’ circling around it. It also displays ‘HODL’ (hold on for dear life) at the bottom that is commonly used by traders who invest in digital assets.
An NFT is a unique digital token that can turn any item in the digital world from tweets to gifs and from artworks to videos into a tangible asset. Like Bitcoin and other cryptocurrencies, they are sold and brought through the blockchain.
They are not interchangeable and their authenticity is verified by encrypting the creator's signature on the blockchain. They are usually created by uploading files to online auction platforms like Valuables.
"Owning any digital content can be a financial investment, hold sentimental value and create a relationship between collector and creator," said Valuables.
"The tweet itself will continue to live on Twitter ... what you are purchasing is a digital certificate of the tweet, unique because it has been signed and verified by the creator.”
Mr Musk did not include a link to the NFT in his tweet, so it is not clear when he is aiming to sell and on which platform.
Tesla's stock closed 2.05 per cent up at $707.94 per share on Monday.
Tesla aims to invest a portion of its cash in alternative assets including digital assets, gold bullion and gold exchange-traded funds as it diversifies its holdings.
Last month, it said in a filing that it will soon accept Bitcoin as payment for its electric vehicles and has invested $1.5 billion in the biggest cryptocurrency.
UAE cricketers abroad
Sid Jhurani is not the first cricketer from the UAE to go to the UK to try his luck.
Rameez Shahzad Played alongside Ben Stokes and Liam Plunkett in Durham while he was studying there. He also played club cricket as an overseas professional, but his time in the UK stunted his UAE career. The batsman went a decade without playing for the national team.
Yodhin Punja The seam bowler was named in the UAE’s extended World Cup squad in 2015 despite being just 15 at the time. He made his senior UAE debut aged 16, and subsequently took up a scholarship at Claremont High School in the south of England.
MATCH INFO
Aston Villa 1 (Konsa 63')
Sheffield United 0
Red card: Jon Egan (Sheffield United)
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
