A new cryptocurrency associated with Musk

We’re talking about the Musk It (MUSKIT) project, which Errol Musk, along with business partner Nathan Brown, revealed in an interview with Fortune. Entrepreneurs report that they plan to raise from 150 to 200 million dollars with the help of crypto-asset. Well, the money will be used to fund research within the commercial think tank Musk Institute under his leadership.

Popular meme tokens have fallen significantly in price over the past month, which was due to the already mentioned launch of TRUMP and not the best sentiment of crypto investors in general.

However, Errol Musk has no doubts about the prospects of monetising his own name on such an asset. Still, the token will certainly be associated, among other things, with Ilon Musk, who remains an Internet celebrity, the owner of Twitter and the richest man in the world.

Twitter and Tesla CEO Elon Musk.

Here’s a line on the subject, which Errol voiced during a video call with journalists from his own home in Cape Town.

I’m the head of the family. Everything in our family really started with me, because I’ve been masking [a play on words with the name of the meme token – editor’s note] for many years.

At the same time, Musk Sr. emphasised that Ilon has nothing to do with the current cryptocurrency project. However, some MUSKIT buyers will clearly not have time to learn this detail before purchasing the token.

The crypto asset was originally launched by a Middle Eastern cryptocurrency company in December 2024, but it has only recently come to the attention of investors. This was after Errol, along with the already mentioned Nathan, endorsed the project and joined it. One of the key conditions for this was to “ensure that MUSKIT will not be a dump and dump scheme”, i.e. fraud.

However, such a statement when discussing one’s own project sounds at least strange.

According to Errol, the idea of launching the Musk Institute organisation came to him during a visit to the UAE, where he met men and women of noble descent from different emirates. In general, the institute will gather researchers for various engineering projects, but the timeline for its launch remains unknown.

Errol Musk’s meme token rate

The MUSKIT meme token is worth 6.3 cents today. Over the past 24 hours, the crypto asset has risen in price by 488 percent, which makes its market capitalisation $69 million. That is, the project is small.

MUSKIT meme token rate chart

However, the financial component of the asset looks questionable. Still, during the interview, Errol Musk and his colleague had no idea about the tokenomics of the asset and the structure at its core, reports The Block.

All that is known so far is that the asset will have a maximum supply of one billion coins, which is fairly typical for modern memes. The project’s website is still awaiting launch, though – which is also suspicious.

Errol Musk’s MUSKIT meme token website


Note that the Space X logo and a Tesla Cybertruck are visible on the site. With this in mind, it seems that Ilon Musk's father really wants to play on his own son's popularity and get money at any cost.


Such comments have angered Errol though. Here’s his response.

So it turns out anyone after Ilon can’t be successful because Ilon is already successful?

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Where is Musk’s meme token being sold

MUSKIT is running on the Solana network, so trading with it takes place on popular platforms on this blockchain. In particular, these are Raydium and Meteora, and among centralised platforms, MEXC has managed to add the coin.

Platforms on which the MUSKIT meme token is traded

If necessary, you can simplify the task and go straight to the USDC-MUSKIT trading pair on the Jupiter platform.

Although we recommend doing this only after realising all the risks and the lack of any usefulness of the token. So far, everything points to the fact that the price of MUSKIT is rising due to the erroneous association of the coin with Ilon Musk, although he has nothing to do with the project.


It looks like Errol Musk really decided to capitalise on the meme-token trend and the popularity of his son. Anyway, he doesn't disclose any usefulness of the asset and doesn't know about its tokenomics, while the project's website is still not ready. Apparently, messing with such a coin is more dangerous than regular meme coins.


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