TLDR
- Musk It (MUSK) token partners with Errol Musk to fund scientific research
- Project seeks to raise $150-200M for new for-profit Musk Institute
- Token launched December 2024, not created by Errol Musk
- Price peaked at $0.3322 before falling to $0.02603
- Project has no connection to Elon Musk
A new partnership between meme token Musk It (MUSK) and Errol Musk, father of Tesla CEO Elon Musk, aims to revolutionize scientific research funding. The collaboration, revealed in a recent Fortune magazine interview, seeks to raise between $150 million and $200 million to support the newly established Musk Institute.
The Musk Institute emerges as an unusual player in the research world, structured as a for-profit think tank rather than a traditional research organization. This approach marks a departure from conventional scientific funding models, blending cryptocurrency financing with academic pursuits.
Nathan Browne, who serves as Errol Musk’s business partner in the venture, brings additional entrepreneurial expertise to the project. Together, they plan to direct the raised funds toward various scientific initiatives, with flying vehicle development taking center stage among their planned research areas.
The token at the heart of this partnership, Musk It, began trading in December 2024, predating its association with Errol Musk and the institute. This timing highlights an important distinction – neither Errol Musk nor Browne created the cryptocurrency. Instead, they chose to align with an existing token that coincidentally shared their name.
Trading data reveals the volatile nature of the project’s early days. Following the announcement of Errol Musk’s involvement, the token’s price surged to $0.3322 on January 31, 2025. However, this peak proved temporary, with the price subsequently declining to $0.02603.
Investors currently have multiple options for trading Musk It, as the token maintains listings on several cryptocurrency exchanges. These platforms include Raydium, MEXC, Meteora, WEEX, and BingX, providing various entry points for potential supporters.
The use of the Musk name has drawn attention, prompting Errol to address potential misconceptions head-on. In his Fortune interview, he asserted his historical connection to the family phrase, stating, “I’ve been ‘Musking It’ for years.” This declaration aims to establish his independent right to utilize the family name in business ventures.
Browne reinforced the project’s independence during the same interview, explicitly cautioning against expectations of involvement from Elon Musk. His statement, “If anyone is relying on Elon to endorse or contribute, then I think they’re missing the point,” clearly delineates the boundaries between this venture and the younger Musk’s enterprises.
The institute’s structure as a for-profit entity sets it apart from many research organizations. This choice suggests plans for commercializing research outcomes, though specific details about the business model remain undisclosed.
While the partnership announcement outlined broad funding goals, many operational details stay under wraps. The Fortune interview left questions unanswered about the token’s economic structure and the specific mechanism for channeling funds from cryptocurrency sales into research activities.
The development of flying vehicles stands out among the institute’s declared research priorities. However, the interview did not reveal technical specifications or development timelines for these ambitious projects.
Questions about the institute’s physical presence, research team composition, and operational timeline remain unanswered. These aspects of the organization’s structure may become clearer as funding efforts progress.
The token’s presence across multiple trading platforms suggests an established market infrastructure. However, the price volatility following the partnership announcement underscores the unpredictable nature of cryptocurrency markets.
Recent trading data shows Musk It maintaining its presence across various exchanges, with prices stabilizing at lower levels following the initial announcement surge.
The latest available information indicates a current trading price of $0.02603, marking a substantial decrease from the post-announcement peak of $0.3322.
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