Elon Musk’s father is promoting a memory that capitalizes the last name to raise up to $ 200 million for several engineering projects, despite the fact that the father-son duo is apparently separated.
Errol Musk, together with the commercial partner Nathan Browne, will officially support the “musk IT” file with the ambitious objective of establishing the Musk Institute, a new group of profitable experts that Errol aims to lead, according to fortune.
The Musk Institute plans “to go beyond rockets” and build flying vehicles and other scientific activities. It is not clear how Elon Musk will be involved in this, if he does.
“I am the head of the family. He really started with me in our family, I have been” doing “for years,” he told Fortune, dismissing any concern about taking advantage of his last name for this project.
The Musk Institute plans to collaborate with nobility in the EAU to promote innovative engineering projects, although details of deadlines or details of the project are still present.
A cryptographic company with headquarters in the Middle East initially began the Token in December. Errol and Browne were then approached and united after conceiving the idea of the Musk Institute.
Musk IT has a market capitalization of $ 25 million as of Friday, according to CoinmarketCap data, with $ 79 million in negotiation volumes and a price increase of 130% in the last 24 hours. The Token was broadcast on the Solana Pump.fun platform, shows its contract address, with one billion tokens in circulation.
Token data show 44,000 Musk IT holders and the ten main directions have more than 20% of the total token offer, with an accumulated value of more than $ 7 million at current prices.
He approached 1 cent to 20 cents shortly after Fortune’s publication on low liquidity and silenced commercial volumes and has returned to just over 2 cents during the Asian afternoon hours.
However, the details of how “musk” will operate, particularly their “tokenomic”, remain wrapped in mystery. Neither Errol Musk, Browne nor the Musk It website provided detailed ideas about the structure or distribution plans of the Token.
Errol promotion is the last in a long list of tokens of SO Termed celebrities, or typically short -term memecoras that set up the exaggeration of a known personality before dying finally.
As such, one of the conditions established by Errol and Browne before the association was that Muskit’s Token “cannot be a pump and a landfill.”
But despite the distance of Elon Musk’s projects, the Musk It site presents several of its innovations, from a Spacex rocket to a Tesla cybertruck with only one “Mars base; soon opening” note on the home page .
