Bizarre $600K Elon Musk crypto statue marketing stunt falls flat

[ad_1] <div data-v-5129e2ea="">Tesla CEO Elon Musk has seemingly given the chilly shoulder to a $600,000 monument of him in goat type — which was created as a part of a weird crypto advertising stunt.Delivered to Tesla’s Austin headquarters on Nov. 26, the 30-foot, 12,000-pound metallic statue of Elon Musk was a part of a publicity stunt by the co-founders of the memecoin Elon Goat Token (EGT).The statue options the top of Elon Musk on the physique of a goat that's using a rocket. The statue additionally sees Musk sporting a canine collar with a Dogecoin (<a target="_blank" href="https://cointelegraph.com/doge-price-index" rel="noopener">DOGE</a>) token hooked up.<blockquote class="twitter-tweet">We’re very pleased with our accomplishments and dedication to <a target="_blank" href="https://twitter.com/hashtag/EGT?src=hash&ref_src=twsrc%5Etfw" rel="noopener">#EGT</a>We’ve all the time had long run imaginative and prescient for <a target="_blank" href="https://twitter.com/search?q=%24EGT&src=ctag&ref_src=twsrc%5Etfw" rel="noopener">$EGT</a> and can proceed to construct the model and utility. We really feel our onerous work can result in Elon claiming <a target="_blank" href="https://twitter.com/hashtag/ElonGOAT?src=hash&ref_src=twsrc%5Etfw" rel="noopener">#ElonGOAT</a> and we'll work in the direction of this objective! Possibly have some enjoyable too! <a target="_blank" href="https://t.co/Rk2Gdn5PpE" rel="noopener">pic.twitter.com/Rk2Gdn5PpE</a>— Elon Goat Token (@ElonGoatToken) <a target="_blank" href="https://twitter.com/ElonGoatToken/status/1597003162203787264?ref_src=twsrc%5Etfw" rel="noopener">November 27, 2022</a></blockquote>

In keeping with the EGT <a target="_blank" href="https://elongoat.io/EGT-Whitepaper.pdf" rel="noopener nofollow">whitepaper</a>, the entire mission was engineered to be roadworthy and mounted to a 50-foot semi-trailer for transportation. The conceptual design was drawn and rendered in Los Angeles. The founders of EGT, who're self-described "Elon Superfans," stated within the mission description on their web site they had been attempting to do "one thing no different Crypto mission has dared to do" to achieve recognition and legitimacy for his or her mission with an acknowledgment from Musk.Sadly for EGT nonetheless, the $600,000 monument has failed to achieve any public acknowledgment from Musk himself, a minimum of on Twitter. Regardless of this, it nonetheless bought loads of mainstream media protection, together with from the likes of The Wall Avenue Journal, Enterprise Insider and The Washington Put up.<h3>Loads of Musk-themed tokens </h3>There is not a lot details about EGT and its objective aside from it was launched in Jan. 2022 on the Binance Sensible Chain (BSC), and has been criticized for its Musk-centric advertising plan and lack of utility featured upon launch, in line with its personal whitepaper. The token can also be one in every of many Elon Musk-themed tokens making an attempt to use the entrepreneur's fame to market its token. Different Musk-themed tokens embody <a target="_blank" href="https://cointelegraph.com/news/elon-musk-named-meme-token-dogelon-mars-gains-nearly-4000-in-october" rel="noopener">Dogelon Mars (ELON)</a> and spaceTwitterDoge and elonDogeTwit.As of the time of writing, EGT has 18,400 followers on Twitter, whereas <a target="_blank" href="https://www.coingecko.com/en/coins/elon-goat" rel="noopener nofollow">Coingecko</a> and <a target="_blank" href="https://coinmarketcap.com/currencies/elon-goat/" rel="noopener nofollow">Coinmarketcap</a> each listing EGT, however neither has information surrounding its market cap. Its value appeared to have spiked momentarily earlier than dipping to month lows after the supply of the statue.In keeping with its whitepaper, EGT claims to now be engaged on having actual utility within the decentralized finance (DeFi) house, having migrated sensible contracts from BSC to the Ethereum blockchain. Associated: <a target="_blank" href="https://cointelegraph.com/news/it-s-time-for-crypto-fans-to-stop-supporting-cults-of-personality" rel="noopener">It’s time for crypto fans to stop supporting cults of personality</a>Over-the-top publicity stunts have been a well-liked technique for crypto tasks through the years.In 2018 Ukrainian social community ASKfm launched an Preliminary Coin Providing (ICO) by <a target="_blank" href="https://cointelegraph.com/news/ukrainian-ico-publicity-stunt-on-mount-everest-results-in-death-of-sherpa" rel="noopener">leaving a wallet with 500,000 </a>tokens on the prime of Mount Everest, the very best mountain above sea degree on this planet. On the time, ASKfm calculated the tokens within the pockets at $50,000, a sum calculated by an estimate of their worth as soon as the pre-sale and ICO launch.One other stunt in 2018 noticed the proprietor of the Epoch Cryptocurrency web site Wong Ching-kit <a target="_blank" href="https://cointelegraph.com/news/hong-kong-purported-bitcoin-millionaire-reportedly-arrested-after-making-it-rain-cash" rel="noopener">drop stacks of cash</a> off a roof in Sham Shui Po, Hong Kong to advertise a contest the place members might allegedly win massive money prizes. Most not too long ago, Rahul Advani, APAC Coverage Director of Ripple<a target="_blank" href="https://cointelegraph.com/news/ftx-fall-was-incredibly-damaging-crypto-must-foster-real-utility-ripple-policy-lead" rel="noopener"> argued that crypto</a> might want to transfer away from “hype cycles” and in the direction of “constructing actual utility.” He defined that the autumn of FTX will immediate regulators and governments to scrutinize crypto laws far more intently. <template data-name="subscription_form" data-type="markets_outlook"/></div><script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> [ad_2] <a href="https://news.google.com/__i/rss/rd/articles/CBMiXmh0dHBzOi8vY29pbnRlbGVncmFwaC5jb20vbmV3cy9iaXphcnJlLTYwMGstZWxvbi1tdXNrLWNyeXB0by1zdGF0dWUtbWFya2V0aW5nLXN0dW50LWZhbGxzLWZsYXTSAQA?oc=5">Source link </a>