Over the past year, $EGT hasn’t seen much growth, according to data from tracker CoinMarketCap, but the founders hoped the Musk statue would inspire the entrepreneur to tweet about the company and bring new exposure to the token.
Elon GOAT Token’s efforts to provide the statue landed the company on Twitter’s US trending page. Musk bought the social network last month, sparking a stir with massive layoffs, advertiser departures and possible changes to the process of getting a Twitter Blue check.
According to Elon GOAT Token, which costs $600,000 in total, the Musk sculpture is a nod to the billionaire’s fame — a rocket representing SpaceX, the aerospace company Musk founded; and the literal goat, a word also used as an acronym for the phrase “Greatest Of All Time”.
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While “times haven’t been good” for Elon GOAT Token, co-founder Ashley Sansalone said in a Twitter audio stream Saturday, the company had set aside enough funds to complete the imagery project.
“We believe that Elon’s possible acceptance of this biblical gift could put $EGT in the spotlight 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 building and traveling around the country, the statue arrived at the Austin building, Elon confirmed GOAT Token in a tweet Saturday after livestreaming the event. Musk, who has 119 million followers on Twitter, had not publicly acknowledged the project as of Saturday night. Tesla did not respond to The Post’s request for comment on Saturday.
Kevin Stone, a Canadian-based sculptor, said he received a call last year about the project from the designer, Danny Wang, who did not reveal the identity of the statue’s client until after the contract was signed.
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At first, Stone thought the mystery client was Musk himself. He didn’t think anyone else would have ordered such a “crazy project.”
The sculptor began work on the piece in January and completed it nearly six months later, after about 600 hours of work. The statue of Musk’s head itself eventually grew to be six feet tall and four feet wide and weighed 250 pounds.
For Stone, who is known for his bird and dragon sculptures, the project was the chance to do something he had never done before.
“It was so crazy that I couldn’t turn it down,” he said. “I just wanted to be a part of it, just because it was such a unique opportunity to do something that was really, really different.”
Spectacle, an American design and manufacturing company, designed the goat and missiles in the statue.
On Saturday night, Sansalone started a Twitter audio stream, saying that he and those who accompanied him on the trip were about 50 yards from the Gigafactory, where security had asked them to move for safety reasons.
Sansalone said the Elon GOAT Token image was always supposed to be “fun,” intended to make Musk laugh, and that the crypto company was trying to do the same as Tesla’s CEO, despite being “small by comparison.”
As the sun set in Austin on Saturday, it was unclear if Musk would leave the statue.
“We’re not leaving,” Sansalone said at the end of the stream. “We will see how this 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!”