Elon Musk’s Superfans Go Big on Getting Validation for Crypto Project: Details

Over 21,000 cryptocurrencies are known to be in existence currently, with new ones made every day. One such fresh project, dedicated to Elon Musk recently made it to the headlines. The creators behind the ‘Elon Goat Token (EGT)’, who claim to be Musk’s ‘superfans’, delivered a rather unique statue to Tesla’s Austin office that has Musk’s head attached to the body of a goat, while riding a rocket. The EGT creators were aiming at gaining some promotion for their project with Musk’s acknowledgement — but that did not happen.

Musk, who is otherwise famous for being active and responsive on Twitter, has not yet reacted to this special parcel from the makers of the EGT.

As per a CoinTelegraph report, the statue is about 30-feet tall, weighs 12,000 pound (roughly 5,443 kg), and costs $600,000 (roughly Rs. 4 crore).

Visuals of the statue shared on EGT’s Twitter handle show the rather eccentric, silver coloured effigy, loaded up in an open truck, being pulled into Tesla’s Austin facility.

“We feel our hard work can lead to Elon claiming #ElonGOAT and we will work towards this goal,” the EGT creators tweeted.

As per EGT’s whitepaper, the cryptocurrency was launched on the Binance Smart Chain (BSC) in January this year.

“On launch day, $EGT caught immediate global attention, drawing over 1,750 Telegram users on a live call that helped catapult the native token to a $39 million (roughly Rs. 318 crore) market cap. $EGT’s viral and unique marketing plan that focused on getting Elon Musk’s attention was the central catalyst,” the document said.

Currently, each EGT is trading at $0.0004706 (roughly Rs. 0.038) after recording a 38.57 percent dip in the last 24 hours, as per data tracking website CoinMarketCap.

The creators behind EGT intend to bring more traction to their crypto offering with Musk’s anticipated reaction to the statue.

This is however, not the first time that Musk, who is an avid crypto and blockchain supporter, has had a Web3 project dedicated to him.

In June 2021, Musk had tweeted that he would be naming his pet dog from the Japanese Shiba Inu breed ‘Floki’, and this led to the formation of the ‘Floki Inu’ altcoin.

Back in October last year, an NFT series of 10,000 digital collectibles was launched under the name of ‘Dogs of Elon’.

Musk is famously known for supporting the Dogecoin token over other cryptocurrencies including BTC and ETH.

Musk’s opinions around cryptocurrencies are known to impact the market movement for the coin given the massive following of the SpaceX CEO on various social networking platforms.

Over the past weekend, Dogecoin reportedly saw a price surge of 19.4 percent after Musk tweeted about his plans of revamping Twitter under his leadership. 


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