Over the past year, $EGT hasn’t seen much growth, according to tracker data CoinMarketCapbut its founders hoped that Musk’s statue would inspire the entrepreneur to tweet about the company and bring new visibility to the token.
Elon’s GOAT Token efforts to deliver the statue landed the company on Twitter’s US trending page. Musk bought the social network last month, causing a mass upheaval layoffs, deceased advertisers and potential changes to the process for obtaining a Blue tick Twitter.
costing one total $600,000, according to Elon GOAT Token, Musk’s sculpture is a nod to the billionaire’s fame – a rocket representing SpaceX, the spacecraft company founded by Musk; and the literal goat, a word which is also used as an acronym for the phrase “Greatest Of All Time”.
Despite exponential growth in recent years, the cryptocurrency has had a tough 2022. FTX, the cryptocurrency exchange estimated to be worth $32 billion in January, collapsed this month. Its CEO resigned and the company filed for bankruptcy, causing a investigation in how the business came undone.
Over the past year, millions of dollars in cryptocurrency were stolen in scams targeting users of the exchange operator Coinbase.
Although for Elon GOAT Token “times haven’t been good,” co-founder Ashley Sansalone said in a Twitter audio stream on Saturday, the company has earmarked enough money to complete the statue project.
“We believe that Elon’s potential acceptance of this biblical-sized giveaway could propel $EGT into the limelight and accelerate his various initiatives,” the company said on its website.
Elon GOAT Token did not respond to The Washington Post’s request for comment on Saturday.
After months of construction and travel across the country, the statue has arrived at the building in Austin, Elon confirmed GOAT Token in a tweet Saturday after broadcasting the event live. Musk, who has 119 million Twitter followers, did not publicly acknowledge the project on Saturday night. Tesla did not respond to The Post’s request for comment on Saturday.
Kevin Stone, a sculptor based in Canada, said he received a call about the project last year from its designer, Danny Wang, who only revealed who commissioned the statue after it was signed. of the contract.
At first, Stone thought the mystery shopper was Musk himself. He didn’t think anyone else would have commissioned such a “crazy project”.
The sculptor began work on the head of the piece in January and finished it almost six months later, after around 600 hours of work. Musk’s head sculpture itself ended up being six feet tall and four feet wide, weighing 250 pounds.
For Stone, who is known for his bird and dragon sculptures, the project was an opportunity to do something he had never done.
“It was so crazy that I couldn’t refuse,” he said. “I just wanted to be a part of it just because it was a unique opportunity to do something really, really different.”
Spectacle, an American design and manufacturing company, designed the goat and rockets on the statue.
On Saturday night, Sansalone started an audio feed on Twitter, saying he and those who had accompanied him on the trip were seated about 150 feet from the Gigafactory, where security had asked them to move for safety reasons.
Sansalone said the Elon GOAT Token statue was always “meant to be fun,” meant to make Musk laugh, and that the crypto company was trying to do the same as the Tesla CEO, despite being “small in comparison”.
As the sun began to set in Austin on Saturday, it was unclear if Musk would allow the statue to remain.
“We’re not leaving,” Sansalone said near the end of the stream. “We’ll see how it goes. We will wait here.
In the background of the Twitter audio stream, people could be heard shouting, “Elon Musk, let’s go!” Elon Musk, let’s go!