In a new step in the world of crypto, Errol Musk, father of billionaire Elon Musk, revealed his support for a digital currency project called "Musk It", in partnership with technical advisor Nathan Brown. This initiative aims to raise funding ranging from $ 150 to $ 200 million to establish an advanced research institute called the "Musk Institute", focusing on developing engineering projects, including flying vehicle technologies ✈️🔬.
🚀 What is "Musk It"?
Musk It is classified as a meme coin 🐶🔗, launched in December 2023 by a Middle East-based crypto company. However, at first, it did not receive much popularity, until Errol Musk announced his official support for it, which gave it a strong boost 📈🔥.
According to CoinMarketCap data, the current market cap of the coin is around $42 million 💰, but this value is not officially confirmed, which raises questions about the strength of the project 🧐. As for its current price, it has seen a massive jump of 472.9% in the last 24 hours, reaching $0.0528 💹⚡.
❓ An uncertain future or a promising project?
So far, no clear roadmap for the development of "Musk It" has been announced, nor has its actual uses or the percentage of distribution among investors been determined. However, Errol Musk confirmed that the proceeds will be used to fund the "Musk Institute", a research center that brings together elite researchers and engineers to work on advanced technological projects.
Musk was inspired to create the institute during his visit to the UAE in December 2023 🇦🇪, where he met with officials and technical experts to discuss future projects. However, no official launch date or details of the institute’s organizational structure have been announced yet.
As the mystery continues, the question remains: Will Musk It revolutionize the cryptocurrency world, or will it join the list of meme coins that are rapidly losing value? 🤔⏳
