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Bizarre $600K The Elon Musk cryptocurrency marketing publicity stunt is a bust.

Elon Musk has not responded publicly to the bizarre $600,000 monument depicting him as a goat delivered to the Tesla headquarters over the weekend.

Is Musk ignored weird cryptocurrency?

Musk, CEO of Tesla, appears to have ignored a $600,000 statue portraying him as a goat, which was commissioned as part of a weird cryptocurrency marketing ploy.

To promote its Meme coin Elon Goat Token, the creators sent a 30-foot, 12,000-pound metal statue of Elon Musk to Tesla’s Austin offices on November 26. (EGT).

The statue depicts Elon Musk’s head atop a goat’s body, perched atop a rocket. Musk is also shown in the statue to be sporting a dog collar with a Dogecoin DOGE cryptocurrency attached.

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Consistent with what is stated in the official EGT whitepaper, all parts were made to be safely fastened to a semi-trailer of up to 50 feet in length. The initial concept drawings and 3D computer animations were created in L.A.
The creators of EGT, who call themselves “Elon Superfans,” claimed in their project description that they were attempting to get Musk to acknowledge their cryptocurrency by doing “something no other Crypto project has dared to do.”

  • Is Musk acknowledge the amount? 

To EGT’s dismay, however, Musk has yet to acknowledge the $600,000 monument, at least on Twitter.

This did not prevent coverage in major publications; outlets like the Wall Street Journal, Business Insider, and the Washington Post contributed to the story.

There are numerous Musk-related mementos available.
To yet, all that is known about EGT is that it was published in January 2022 on the Binance Smart Chain (BSC) and has been criticized for its Musk-centric marketing strategy and lack of utility upon debut, as outlined in its whitepaper.

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It is one of many tokens that use Elon Musk as a marketing hook because of the entrepreneur’s notoriety. Dogelon Mars (ELON), spaceTwitterDoge, and elonDogeTwit are a few other coins with Musk-related themes.

Despite having over 18,000 Twitter followers and a presence on both Coingecko and Coinmarketcap, the current market cap of EGT is unknown as of this writing. The statue’s price appeared to rise upon delivery, only to crash to monthly lows.

  • What Marketing Strategy for Crypto projects?

After moving smart contracts from BSC to the Ethereum blockchain, EGT asserts in its whitepaper that it is working toward having genuine utility in the DeFi market.

i market. In a related vein, crypto enthusiasts need to quit promoting cults of personality.

Extreme marketing strategies have become standard practice for crypto projects.

The Ukrainian social media platform ASKfm began its Initial Coin Offering (ICO) in 2018 by depositing a wallet containing 500,000 tokens atop Mount Everest.

ASKfm estimated the tokens in the wallet to be worth $50,000 before the token pre-sale and initial coin offering (ICO) debut.

Read more: Will Bitcoin hit $110K in 2023?

Wong Ching-kit, the owner of the Epoch Cryptocurrency website, pulled a similar prank in 2018 by dropping bundles of cash down a roof in Sham Shui Po, Hong Kong, to advertise a competition in which winners would supposedly get substantial sums of money.

  • What’s the Ripple director said about Crypto rules?

APAC Policy Director at Ripple, Rahul Advani, recently advocated that the cryptocurrency industry must progress beyond “hype cycles” and concentrate instead on “creating genuine benefit.”

He said the collapse of FTX would cause governments to look more closely at their crypto rules.

Read more: Cryptocurrency, Metaverse, NFTs: What Comes Next?

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