A newly launched meme coin wants to buy a Tesla for the 19-year-old tracking Elon Musk's private jet 'if Elon won't'

Gulfstream G650ER
A Gulfstream G650ER aircraft by Gulfstream Aerospace Corporation, similar to the jet used by Elon Musk.Aviatrade

A new crypto token called elonjet launched last week in support of a 19-year-old's jet-tracking project that Elon Musk himself is said to have tried — and failed — to shut down.

Jack Sweeney, the teen who runs a Twitter page tracking Musk's private jet, previously said he declined a $5,000 offer from the billionaire to delete the account. Last week, Sweeney said, he countered with an ask of $50,000 or a Tesla Model 3, to which he said Musk declined.

The people behind the elonjet meme coin say they want to follow through where Musk fell short and buy Sweeney a Tesla. Their Twitter page says this would happen if the coin hits a market cap of $10 million — the coin's unvetted valuation on CoinMarketCap was about $3 million as of Sunday afternoon.

The elonjet coin account has no association or affiliation with Sweeney and says it was blocked by Musk.

"It's just pretty funny what this has all turned into," Sweeney told Insider, adding that "if they believe in the meme, I trust them to follow through."

Meme coins are cryptocurrencies associated with internet jokes. Musk is a well-known fan of the meme coin dogecoin, which started as a joke between two engineers.

"The concept behind elonjet has been inspired by the global popularity of the 'meme coin' phenomena, accompanied by Sweeney's jet tracking endeavours," the elonjet website says.

As for what's next for the jet-tracking teen, he told Insider he had no plans to raise his ask of $50,000 to shut the tracker down. Since his project has gone viral, he said others had begun helping him run the account.

"Our hope is to have all planes' data available in a decentralized format," he said. "This will help carbon emissions and costs reduce greatly as this data will be available to more people globally."

Read the original article on Business Insider