[@NoMansSky] @NintendoCoLtd what does the 'M' on Mario's hat stand for? (twitter)

Tweeted January 19, 2021 at 01:51PM by @NoMansSky at http://twitter.com/NoMansSky/status/1351603178618421255
 

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@NintendoCoLtd what does the 'M' on Mario's hat stand for?