Source : coingape.com
Tesla CEO, Elon Musk is not yet ready to give up hope on meme coins or numbers and has continued to convince his following to abide by the same principles. Musk’s latest tweet caught considerable traction, where he emphasized the eminence of meme numbers like ‘420’ and ’69’, asserting how deep-pocketed and open-minded investors and institutions are benefiting from these jokes.
Due to inflation 420 has gone up by 69
— Elon Musk (@elonmusk) November 15, 2021
Bloomberg followed Musk’s tweet and argued in his favor, noting former achievements that were in fact made in these so-called ‘nonsense’ meme numbers. From Sam Bankman-Fried’s crypto-exchange FTX’s recent funding round raising $420 million from 69 investors, with giants like Singapore’s state investment company Temasek and the Ontario Teachers’ Pension Plan Board, to crypto’s OG, Bitcoin hitting its record high at approximately $69,000, meme numbers have proven to be just as prominent in the path to success.
Musk Multiplied the value of the “69-420” meme
Last month, Musk used the popular “69-420” meme for Bitcoin and Ethereum price hike, which in turn led to exceptional market buzz around this meme, further multiplying its value, profiting the creator. The original creator of the meme, Eva Beylin was amazed at the money she made with a meme after Musk’s posting, which also made up for Musk not giving her the due credit. Taking advantage of the market buzz, Beylin minted the prized meme as an NFT and put it up for auction on NFT marketplace Zora and within two days the meme NFT got an offer for fiver wrapped ETH with an approximate value of $20,000, when she exchanged it for her ’69-420′ meme.
“The ultimate prize of memeology is for the ultimate meme lord to use your meme…As a hobby artist, I’d never be able to reinvest in art or have my art paid for [without NFTs]. So, my thing has always been reinvesting back into NFTs,” Beylin said.
Turns out, the old-fashioned tendency to dismiss the art of memes as pure internet silliness may potentially affect your financial portfolio in the long run. However, Musk has figured out the art to incorporate everything, from coins made after Dog memes to numbers that became popular as internet jokes, which is apparently what makes him a billionaire. Incorporating the “silliness” into their strategies might as well be how the evolved and decentralized world of crypto works.