Netflix’s Korean drama series Squid Game has exploded in popularity in the past few months. The anti-capitalist TV show has a lot of interesting things to say about money and the evils that arise because if it. So, what happens if you create a cryptocurrency based entirely on that premise?
As it turns out, the Internet explodes once again. Last week, a specially designed Squid Game cryptocurrency made its way into the virtual marketplace. Met with an immediate horde of hungry investors, the currency quickly drew the ire of crypto fans worldwide.
Can you sell Squid Game coin cryptocurrency?
Nope. The inspired virtual currency was made with the sole intention of being unsellable. Much like the series its based on, the token is a criticism of capitalism. Of course, being a crypto token, this specific example is also a criticism of the volatile platform and investors of “meme coins”.
Much like DogeCoin or Catgirl, the SQUID token was designed for “cryptobros” to pile onto. With the unparalleled popularity of the Netflix show, there was no doubt that thousands would invest in the platform. The new currency immediately skyrocketed in price to $10 per coin.
However, those who invested in the currency quickly discovered that they were stuck with it. The coin can’t be traded, sold back or used for any transactions. The money is useless, and investors are very upset.
Reactions to the unsellable coin
As investors quickly realised that they had pumped fortunes into a useless currency, the Internet exploded with investors looking for ways to use their new SQUID tokens. Forum posts, SEO articles, Facebook groups and Twitter threads were aplenty with people looking to flog their coins.
The currency was working. Squid Game coin made investors desperate, looking for any means necessary to make their money back. However, there is no way for them to make their money back. The currency is useless.
With that said, the popularity of the Squid Game cryptocurrency means it’s still being bought. Investors are hoping that, one day, there will be a way to sell the coin due to its massive popularity. That’s pretty funny.