Errol Musk, the father of the technical tycoon Elon Mask, plans to collect from 150 to 200 million US dollars through a MEME coin called Musk Its to finance a new commercial analytical center, a “Massive Institute”, Fortuna said on Thursday.
The institute is focused on engineering projects, including, as Errol suggests, achievements beyond the framework. The senior mask and his business partner Nathan Brown collaborated with a crypto companion with the Middle Eastern Basing, which launched a token in December.
“I am the head of the family,” said Errol. “It really started with me in our family – I“ Musical this ”for years.”
Elon Musk did not support and did not participate in the project. According to Errol, his son asked about the project after watching media reports, but Errol assured him that he was engaged in the plan on his own.
According to CoinmarketCap, the Musk Itken (Muskit) doubled its market capitalization of up to $ 23 million. The cost of token increased by almost 1500% on Thursday evening, rising from $ 0.014 to US dollars, before the US dollars.
Memoines, known for their volatility and are often tied to Internet jokes or personalities, are risky investments. The lack of detailed information about Musk Its caused concern. Its declared official website practically does not offer any details about the project, and information about its tokenomics almost does not exist.
Neither Errol nor Brown gave clear answers about the structure of token or its alleged use, in addition to financing the analytical center. Brown indicated that one of their conditions for joining the project was that “it could not be a pump and reset.”
The senior Musk also rejected fears about the use of a surname for a crypto project that investors can connect with their famous son. “Anyone who follows [Elon] Is it not allowed to be successful because Elon is successful? ” He said.
“If someone relies on Elon to support or contribute, then I think that he overlooks sight,” Brown added.
