The enormous sculpture was commissioned by the cryptocurrency company Elon GOAT Token to honour Musk’s accomplishments and commitment to cryptocurrency. The rocket symbolises SpaceX, and the goat is an acronym for the phrase “Greatest Of All Time.” The Elon GOAT Token ($EGT) hasn’t seen much growth through the past year, according to CoinMarketCap, but the founders thought that Musk tweeting about the sculpture would bring more exposure to the token.
Elon Goat sculpture cost $600,000, and was created by Kevin Stone, a sculptor based in Canada. The sculpture was first thought to have been commissioned by Musk himself, taking 600 hours to make and weighing 250 pounds. But no, those were just crypto entrepreneurs behind Elon Goat token, who knew their company wasn’t doing well, but still spent over half a million dollars on this folly.
When the sculpture was finished the company attached it to a trailer and took it to Tesla’s Gigafactory in Austin, as part of what it dubbed “Goatsgiving.” The masterpiece arrived at the location, but unfortunately, Musk has not publicly acknowledged the project so far. However, Elon GOAT Token’s efforts to get noticed by Musk landed the company on Twitter’s US trending page. Sadly, it hasn’t affected the token price.
First, a guy burns Frida Kahlo’s drawing for an NFT project, then these guys build a huge sculpture of Musk as a goat. Controversial publicity stunts, just don’t try them at home. And we continue to observe.