Elon Musk’s father is promoting a memecoin that joins the family name to raise up to $ 200 million for various engineering projects, despite the duo-child duo that seems to be separated.
Errol Musk, in conjunction with business partner Nathan Browne, will officially return the sign of “Musk It” with an ambitious goal of promoting the Musk Institute, a new Think For-Profit tank aimed at Errol’s lead, Every fortune.
The Musk Institute plans to “exceed rockets” and build flying vehicles and other scientific goals. It is unclear how Elon Musk is involved here, if at all.
“I’m the leader of the family. It really started with me in our family – ‘Musking me’ for years,” he told Fortune, who had removed any concerns about the seizure of his surname for this project.
The Musk Institute plans to cooperate with the UAE nobility to protect innovative engineering projects, even if details on time or project details are still coming.
A company based in the Middle East first launched a token in December. Errol and Browne eventually boarded and attached to themselves after wearing an idea for the Musk Institute.
Musk This is proud of a $ 25 million market capitalization on Friday, CoinMarketCap data Shows, with $ 79 million in trading volumes and a 130% price increase in the last 24 hours. The token is issued to Solana Platform Pump.fun, its Contract address Shown, with a billion token in circulation.
The token data shows 44,000 Musks holding IT and the top ten addresses hold more than 20% of the total token supply – combined – with more than $ 7 million at current prices.
It ranked from 1 cent to 20 cents after the Fortune published in low liquidity and masked trading volumes and returned to more than 2 cents during the afternoon in Asia.
However, the details of how its “muscle” will operate, especially the “tokenomics,” remains wrapped in mystery. By Errol Musk, the Browne or the Musk IT website provided a detailed perspective on the token structure or distribution plans.
Errol’s promotion is the latest on a long list of popular celebrity tokens, or generally short -lived Memecoins who ride the hype of a well -known personality before eventually dying.
As a result, one of the conditions Errol and Browne laid out before collaboration was the Muskit token “could not be a bomb and dump.”
But despite the distance from Elon Musk projects, the Musk IT site is increasingly featuring some of its innovations – from a Spacex rocket to a Tesla Cybertruck with only “Mars base; Opening as soon as possible ” Note on the homepage.
