What Is C*mRocket Cryptocurrency That Surged After Elon Musk Tweet?

A new cryptocurrency called C*mRocket surged in value by more than 85 percent after a cryptic tweet by Elon Musk Thursday night.

The tweet simply said, "Canada, USA, Mexico." Self-described crypto analyst Mr. Whale—who has over 220,000 followers on Twitter—said the entrepreneur may have been referring to the new cryptocurrency in the tweet—see the initials.

The Tesla and SpaceX CEO actually responded to Mr. Whale's tweet, saying "Great thread" with the laughing face emoji.

But what is C*mRocket?

C*mRocket is a cryptocurrency project launched in April 2021 that aims to provide an NFT marketplace for adult content and a platform where creators are paid in crypto and tipped using special tokens called C*MMIES.

NFTs, or "non-fungible tokens," are digital tokens stored on the blockchain which certify that a given digital asset—such as an artwork or video—is unique, and thus, not interchangeable.

Blockchain is essentially a decentralized, digital ledger that stores data in "blocks" that are chained together. Cryptocurrencies, such as Bitcoin, use blockchain to record financial transactions.

The C*mRocket NFT marketplace allows people to buy, sell, swap and collect exclusive adult content. This content will include full-length pornographic clips with up to 30 minutes of video, sound, as well as GIFs or pictures. The material is stored on the user's digital wallet, and on the Binance Smart Chain (BSC) blockchain network.

"This is different from other marketplaces because people will be able to post full pornographic videos and buy them, send them, sell them, collect them," the C*mRocket white paper said. "They can do this without ever having the file stored on their computer, meaning they can keep their porn private. Paying for adult content in crypto provides both buyers and creators with anonymity, something that other popular platforms fail to provide."

"Our future plans include exploring other ways creators can earn a living through adult content, such as having live cams. The possibilities are endless and although people have tried, nobody has done this on Binance Smart Chain," the creators say.

As well as the NFT marketplace, C*mRocket will also provide a private content subscription platform where creators can charge a monthly or yearly fee for their private content.

C*mRocket users can chat, text, sext, and exchange content, while tipping and rewarding content creators with C*MMIES tokens.

The value of one C*MMIES token is, at time of writing, hovering around the $0.07 mark, with more than 1.3 billion in circulation. The market cap of the cryptocurrency is currently around $107 million, according to CoinMarketCap. The coin surged to a high of $0.2723 on May 5, but its value has fallen significantly since then.

C*mRocket says the token "rewards holders and punishes sellers," noting that 2.5 percent of every transaction gets redistributed to holders of the token in proportion to their holdings. Meanwhile, 2.5 percent of every transaction is "burned," meaning the supply of tokens is constantly becoming more scarce.