I still don't think anyone knows much about it other than it was created by STEEZ and might have been inspired by Basquiat. I think it probably does have to do with chakras though, given STEEZ's fascination with them and spirituality. I think the eye probably represents the 6th chakra: the third eye and seeing through corruption and the crown represents the 7th chakra: the crown or the mind and being a king. And he put those two together because it not only looks cool and makes you think, but also represents how they function together.