In a few weeks (even in a few days!), Squid Game captured the hearts of millions of viewers and became the best series launch on Netflix. What if we thought that madness Squid Game came down slowly, we were wrong. Indeed, there is now a cryptocurrency inspired by the South Korean series.
SQUID, la cryptomonnaie Squid Game
The SQUID token, initially sold for 1 cent on Thursday, is now worth $ 2.34, or 2 euros. It took just 24 hours for the cryptocurrency to explode and increase by 2400%. As of this writing, its market cap stands at $ 174 million. – or around 149 million euros. A tidy sum.
But this cryptocurrency Squid Game does she have an interest? Or is it just one more token taken from something not really serious, like the SHIB?
This new cryptocurrency will allow you to participate in an online tournament based on the principle of Squid Game. As a reminder, the South Korean series features people in debt participating in a deadly children’s game tournament (such as One two Three Sun) to pocket the modest sum of approximately 32.9 million euros.
Thus, the creators of SQUID will launch in November an online tournament composed of the six games of the Netflix series. The principle is quite simple : we buy tokens to be able to participate in the first game and try to win the ultimate reward, as in the series.
In this way, the first online game that participants can play will be One two Three Sun. But to enter the game, you have to pay the entry fee of 456 SQUID (912 euros). 456, like Gi-hun’s character number of course.
The winners of the game will recover their entry fees and will be the only ones able to continue the adventure. And the further they advance in the tournament, the higher the entry fee will be. From the third game, you will have to add a tailor-made NFT, won during the previous game. And so on …
This time, no deaths or injuries. In any case, this is what the founders assure in a joking tone in the white paper explaining in detail the principle of their project. Unlike the South Korean series, the more players the better. Yep, that makes the final prize pool bigger.
Also according to the white paper of the project, 90% of the registration fees for the various games make it possible to fill the pot and the remaining 10% pay the developers of the project.
According to the project’s organizers, the SQUID token sold out in just one second after its presale went online on October 20. If we thought we were done with the madness Squid Game…
I am a technology author with 8 years of experience in journalism. My writing covers the latest technology advancements and trends, drawing on my expertise in news journalism and social media platforms. I have contributed to major media outlets such as The New York Times, The Wall Street Journal, and Reuters.
