For the fans of the popular Netflix Korean hit Squid Game, there is a squid game cryptocurrency in the market. Gamers now have created an online version for this programmer. For this, you need to play with a Squid game cryptocurrency.
On Tuesday, the crypto was worth 1 cent. On Friday, it exploded with the value of n $4.39. But many are criticizing Squid for not letting their investors resell their coins further. This dystopian series tells the story of a group of people. The people are also forced to play a deadly game for money which has become a viral sensation.
Squid is known as play-to-earn crypto. Here people can buy tokens to play with the online game. Here they can further earn more tokens. Players can exchange the coins for fiat money and other cryptos.
In such cases of squid, many of the buyers will be the gamers who will play the online game of the program. The more people will come forward to join, the more they will get the larger reward pool. The developers will take at least 10% of the entry fee. 90% will go to the winner. Well, there are no deadly consequences in the end.
However, prospective buyers need to be aware of the crypto price. The CoinMarketCap is warning that the investors may become unable to resell their token on the exchange.
The market capitalization or the total value he reached the mark of $184m. One trader also said that they tied up $7500 in the currency, which they hope will release in 48 hours.
It is quite unclear why it is happening. But the company is saying that it is using an innovative anti-dumping technology that limits people from further selling out their coins in case there are not enough coins.
“This cryptocurrency joins a long and growing list of digital coins and tokens that piggyback on random memes or cultural phenomena,” Cornell University economist Eswar Prasad said.
Not only the Squid game cryptocurrency, which has the benefit of a quick surge. The subscriptions of Netflix have also seen a bounce after the release of the program.
Credits: BBC
