The DUST token, native to the NFT collection platform DeGods, saw an unprecedented surge today. Riding the wave of an unfounded rumor that the new Grand Theft Auto will feature the cryptocurrency, the token jumped from $0.62 to nearly $0.80.
DUST is utilized for utility and governance purposes in the Ethereum and Solana blockchains. Initially, it was distributed through DeGods’ staking program, where those who bet their DeGods NFTs received it in return.
The rumor, spread by Twitter User and DeGods PFP Enjoyer Top Smoke, suggested that GTA 6 would incorporate DUST. He based this on the fact that the VP of Creative Writing and Production at Rockstar Games follows DeGods’ Twitter and that the website recently updated their banner to an image of a sprawling city with the GTA font overlaid.
Although the rumor has since been shot down, it was enough to spark increased speculation among Crypto Twitter and send the token on a wild ride. In the aftermath, DUST’s price dropped from near $0.80 to $0.66 – still up 8% from the start of the day.
This begs the question: is using the GTA font as a crypto marketing strategy a viable tactic? The views and opinions of the author are intended for informational purposes and do not constitute investment, financial or other advice.