Unusual $600k Elon Musk’s Marketing Ploy With Crypto Monument Flops

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Last Updated on November 28, 2022 by Bitfinsider

Tesla CEO Elon Musk has seemingly given the cold shoulder to a $600,000 monument of him in goat form — which was created as part of a bizarre crypto marketing stunt.

Delivered to Tesla’s Austin headquarters on Nov. 26, the 30-foot, 12,000-pound metal statue of Elon Musk was part of a publicity stunt by the co-founders of the memecoin Elon Goat Token (EGT).

The statue features the head of Elon Musk on the body of a goat that is riding a rocket. The statue also sees Musk wearing a dog collar with a Dogecoin token attached, as shown on a Twitter post.

Source: Twitter

The entire project was designed to be roadworthy and transported attached to a 50-foot semi-trailer, according to the EGT whitepaper. Los Angeles is where the conceptual design was sketched and produced.

In the project description on their website, the founders of EGT, who identify as “Elon Superfans,” said that they were attempting to accomplish “something no other Crypto project has dared to do” in order to achieve notoriety and validity for their project through an endorsement from Musk.

Unfortunately for EGT, Musk hasn’t made any public comments about the $600,000 monument, at least not on Twitter. Despite this, it received a lot of notice in the mainstream media.

Tokens that are related to Musk

There isn’t much information available about EGT and its goals other than the fact that it was introduced in January 2022 on the Binance Smart Chain (BSC) and that, according to its own whitepaper, it has received criticism for its Musk-centric marketing strategy and lack of launch-day utility.

Additionally, the token is one of many Elon Musk-themed tokens that tries to capitalize on the entrepreneur’s notoriety to promote its token. Other tokens with a Musk theme include spaceTwitterDoge, Dogelon Mars (ELON), and elonDogeTwit.

EGT has 18,400 followers on Twitter as of the time of writing, and although it is listed on both Coingecko and Coinmarketcap, neither site provides information on its market cap. After the statue was delivered, it seemed as though the price briefly rose before falling to a month low.

With the migration of smart contracts from BSC to the Ethereum blockchain, EGT claims to now be focusing on having genuine utility in the Decentralized Finance (DeFi) area.

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