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Branstetter created the token as a playful critique of the crypto market's speculative nature.
Key Takeaways
- Unicorn Fart Dust coin reached a $240 million market cap just 48 hours after launch.
- Despite having no prior experience in crypto development, Branstetter aims to explore the world of crypto through this humorous project.
A Solana-based meme coin created by YouTuber Ronald Branstetter, a silver and gold maximalist, to prove the worthlessness of such tokens has reached over $240 million market value within 48 hours of its launch, according to GeckoTerminal data.
The token, named Unicorn Fart Dust (UFD), was trading at $0.213 at press time, marking a 214% increase over the past 24 hours. The project began after Branstetter learned about Fartcoin, the Solana meme coin that recently rose to a $1 billion market cap, from his wife.
“The fart meme coin has a market cap of $500 million that’s bigger than almost any silver company that I know,” Branstetter said during his Wednesday stream, when he first unveiled the UFD meme token.
Branstetter did not explicitly explain the idea behind the name. However, according to a video posted last year, the YouTuber called Bitcoin “unicorn fart dust,” a term he used to describe something valueless or insignificant, here Bitcoin and other altcoins.
Coincidentally, the Unicorn Fart Dust token was launched just a few days after the “Unicorn Fart” finishing move was unveiled as part of Call of Duty: Black Ops 6. This move, while undeniably humorous, has drawn criticism for its over-the-top and arguably disrespectful nature. Branstetter mentioned the move during his stream.
The “Unicorn Fart” finishing move
Branstetter’s UFD token quickly hit $6,400 in market cap after its launch.
“People are buying this thing which just blows me away because it is nothing but unicorn fart dust,” Branstetter said. “I’m not getting rich off it because I only own like 1.2%.”
In his second stream on the same day, Branstetter updated that the UFD token’s market cap had reached $23 million. He also noted that he sold half of his UFD holdings, pledging to distribute 20% of his profits to his community of over 45,000 subscribers.
Support for Branstetter’s UFD token has grown among crypto community members who value his honesty, though many have cautioned him about the risks of scams and misinformation.
“The reason it did so well is because you’re honest. It wouldn’t have worked out any other way,” one viewer commented.
“Ron is really great. Feels like our collective dad,” said Yuga Labs co-founder Wylie Aronow.
Following the surge in UFD’s value, a memecoin named after Branstetter’s cat, Jasper, was created. GeckoTerminal data shows that the JASPER token, which has no connection to UFD or Branstetter, hit a $2.3 million market cap and surged nearly 1,500% in the last 24 hours.
It’s not clear if Branstetter will keep working on the token, but it’s been a wild ride. He created it as a fun way to make a joke about how crazy the crypto world can be, and now it has a market cap of hundreds of millions. Even he’s surprised by how quickly it took off.
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English (US) ·