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Elon Musk’s $250 Million For The Picassol NFT Private Auction Explained

Very recently, an enormous wave of cryptocurrency news websites around the world mentioned about Elon Musk and numerous celebrities being associated with the Picassol NFT Project. Therefore, many big media companies carried out an in-depth research.

Elon Musk’s tweet “Who else is waiting? PicasSOL Auction” was posted in September 2021. During that time, the Solana NFT Project called Picassol wasn’t launched yet, but in preparation for their mint date in December 2021.

They were not supposed to go public until early December. However, because of all the countless articles written by top trusted websites informing their assumptions, Picassol was forced to publish early.

With the publication of the Picassol NFT project and their ‘Private Auction’ with 6,000+ VIP buyers, it brought attention to thousands of people who recalled Elon’s tweet. Due to this awareness, some of the VIP buyers have failed to remain anonymous when their confidentiality is crucial to attend the private auction.

The VIP community comprises crypto-enthusiasts worth several hundred million dollars, world-famous billionaires, CEOs of multinational corporations, and countless celebrities. Some celebrities linked to the Picassol project include Arnold Schwarzenegger, Sandra Bullock, Scarlett Johansson, Jennifer Lawrence, Daniel Radcliffe, Elon Musk, and Paris Hilton.

Over the past eight months, they have made suggestive comments that point to the Picassol project on their social media pages, radio channels, and during live stream events. It was shocking that aside from Paris Hilton and Elon Musk, most of these celebrities did not have any connection to cryptocurrencies or blockchain-based projects.

In short, there are ‘Three Parties’ that must come together for the private auctions to take place.

They are:

  1. NFT minters of ‘4,077’ art works. (VIPs can’t mint)
  2. 6,000+ VIPs who are waiting to purchase as many of ‘already minted NFTs’ as possible. It is expected that 95% will be sold for 4-6 digits while the other 5% will be sold for 7-8 digits in US dollars. (Solana)
  3. The Picassol team with hundreds of specialists for the private auction.

The entire Picassol NFT ecosystem was carefully designed to ensure that all parties make a profit. They had been preparing for the monthly private auction since January 2021 and they have successfully created a system that allows VIPs to acquire NFTs to help with their ‘tax issues’. That is the main purpose of the private auction and the reason why their confidentiality was extremely crucial.

The private auction’s system was created by Picassol’s 182 specialists. It will be happening every month online starting from one month after the mint date in December. All of the 4,077 NFT holders will continuously get a chance to list their Picassol NFT on the private auction every month, but with over 6,000+ VIP buyers battling for 4,077 NFTs, the experts are saying that all the listed NFTs will most likely to get sold out on the first private auction.

Currently in US dollars, the minimum price is set at about 4-5 digits and the maximum ‘possible bidders’ price is in 8 digits for a minted Picassol NFT. They have the total art work of 19,000+ which will be combined into an image multiple variations, turning into 4,077 NFTs.

There are many price assumptions going around, however, it has been confirmed by the experts that about 95% of Picassol NFTs will be sold for around 4-6 digits and out of 4,077 NFTs, only about two-hundred (5%) NFTs will be sold for 7-8 digits.

“Only because the maximum bidding is high, it does not mean that anyone will get to sell for that price. It’s a private auction and we can never truly know how much the VIPs are willing to spend. However, only about 200 NFTs that will be striking 7-8 digits in US dollars sounds about right” the founders that manage overall VIP buyers have agreed with the experts.

There are many news articles that Elon Musk, alone, prepared $250 million for Picassol’s private auction. Many of the top news websites would allow price assumptions, but they will never allow their journalists to write any false information.

It is safe to assume that it is a fact, as countless top news journalists have confirmed this information. It can also be found in the news of over 20 different countries around the world, every website with their own writings and research.

The identities of 6,000+ VIPs were supposed to be strictly private in order for the auction to work. Elon’s tweet was too powerful that it exposed all the other celebrities mentioned above in this article.

This also explains the true reason behind the rising price of Solana since August 2021. It was Picassol VIP buyers stacking up Solana for the upcoming private auction.

Due to the unexpected rapid publication of their project, they have created their Discord too early. Right now is the easiest time to join their Whitelist which has great benefits.

Also, they prepared a lottery system for the mint date. Every minter will have a somewhat fair chance to mint their NFT.

To learn more about Picassol NFT project, anyone can check their Discord or Twitter to get updates on new information regarding the private auction. Welcome to the world of NFT where anyone can become a millionaire overnight.

Here is a link to their official Twitter and their website:

Currently they are trying to stay under the radar, but also wanting to get a little attention. They don’t want too much attention for the obvious reasons. More detail information is found in their Discord channel.