Following the mind-boggling achievement of Squid Game on Netflix, a cryptocurrency with a comparable identify to the series has grown tremendously in the previous week.
SQUID tokens expand by three,500% in just 1 week
Surely if you are a standard Internet consumer, anyone has heard of the identify Squid Game at least as soon as in October.The Netflix series has made a true fever in the planet, attracting 142 million views globally following only one month to come to be the series. most productive in the background of this on the web film platform.
Leveraging the acceptance of Squid Game, a cryptocurrency with a comparable identify was launched on Binance Smart Chain, claiming to construct a blockchain game comparable to the film, though also integrating far more NFT characteristics this kind of as exclusive characters and products to participate in rounds.
On the web site the undertaking states that the Squid Game will consist of six smaller sized mini-video games divided into six rounds, with the participation of 456 gamers, the only player who in the end wins will be entitled to acquire all rewards. The ailment to participate in the game is to have the SQUID tokens. Only these who pass this round can accessibility the upcoming round. Each round will call for an rising SQUID share, i.e .:
| Exam round | Participation charge | Reward |
| one. Red light, green light | 456 SQUID | 456 SQUID |
| two. Dalgona candies | one thousand SQUID | one NFT (degree one) |
| three. Tug of war | 2000 SQUID + one NFT (degree one) | one NFT (degree two) |
| four. Marbles | 4000 CALAMARI + one NFT (degree two) | one NFT (degree three) |
| five. The glass milestones | 8000 CALAMARI + one NFT (degree three) | one NFT (degree four) |
| six. Squid game | 15000 SQUID + one NFT (degree four) | All prizes |
Even so, the undertaking claims to withhold ten% of the prizes, offering only 90% to the winners.
Although it was only listed on PancakeSwap on October 21 for $ .011, by eight:thirty am on November one, the price tag of Squid Game’s SQUID token had hit $ 39.03, increasing to more than three,500% following just 1 day a week. The trading volume of SQUID is also particularly spectacular, with the final three days exceeding $ 15 million.
Squid Game claims that the SQUID token will have an “anti-dump” mechanism in the ratio of two invest in: one promote. This indicates that following buying two SQUIDs, customers can only promote one. Furthermore, the undertaking also has an additional token referred to as Marbles (MARBLES), inspired by Axie Infinity’s SLP token. MARBLES tokens can only be earned by means of perform. Owners of MARMI will have the appropriate to promote SQUIDs.
SQUID has a greatest complete provide of 800 million units, though MARBLES has an original concern of 21 million units, with an infinite complete provide. Priced at USD 39, SQUID has a diluted capitalization of up to USD 31.two billion.
According to the improvement roadmap, the Squid Game game stated on its site that it will launch the game as quickly as this November, as nicely as listing the SQUID token on main exchanges, paving the way for launch on the mobile platform this month. twelfth.
Suspicious spots
It can be explained that considering that its launch, this Squid Game undertaking has questioned several persons.
The initially stage and also the explanation for the continued raise in the price tag of the SQUID token is the reality that Buyers will not be in a position to promote tokens. In reality, the Squid Game mechanic stipulates that only these who personal MARBLE can promote SQUIDs, which indicates that these who eliminate the SQUID coin and want to promote now have to commit far more funds to invest in MARBLE, or wait for the SQUID coin to be offered. the game comes out then earn MARBLES by taking part in the game. Furthermore, the variety of SQUIDs that can be offered depends on the percentage of ownership of MARBLES, so traders have to commit more funds to thoroughly exit the MARBLES place.
It did not end there, The value to perform is as well large. With the latest price tag of $ 39, gamers need to have to commit 456 SQUIDs, equivalent to $ 17,784, to participate in Round one. If they eliminate, they will eliminate this quantity. If you get to round six, the participation charge will also attain $ 585,000, far more than half a million bucks.
Price statistics site CoinMarketCap also had to publish a discover about this Squid Game coin.
“We have acquired several reviews that customers are unable to promote this token on PancakeSwap. Users ought to do their personal investigate and be wary of this undertaking. This undertaking is inspired by the Netflix series of the similar identify, but has no direct connection with it. “
The 2nd is that despite the fact that it fully mimics the Netflix film, this is a indie game undertaking. Despite claiming Netflix as a spouse, as nicely as the undertaking group claiming to have a great deal of lengthy-phrase skilled employees from Netflix, Apple, Amazon, and so forth., but by means of the investigation, some Twitter customers explained it could not be verified. persons. The “sequel” to the Squid Game film, from the frequent use of motifs, pictures, trademarks, and so forth., can also lead to a later on copyright citation of the game.
If you search for “Mabel Jah” the only connected outcome you discover is practically from their site. pic.twitter.com/5KvLZE6UgC
– Michele (@asparagii) October 29, 2021
“The CEO is not on LinkedIn. When seeking for employees pictures on Google, the only benefits returned are from the Squid Game site. “
two items to note on their homepage:
– are utilizing true display movies right here (DMCA elimination coming quickly)
– there is a considerably informal reference to Elon Musk, despite the fact that there has by no means been an explicit affiliation – when this takes place it is commonly a scam pic.twitter.com/DY99HWfpIn– Michele (@asparagii) October 29, 2021
two factors to note on the undertaking homepage:
– They are utilizing pictures from the film (quite effortless to get copyright)
– They mention Elon Musk even even though there is no connection – this is commonly only utilized by scam tasks.
Finally, Squid Game has a way of advertising that can be referred to as “Deliberately creating hype”. On the site, the undertaking “proudly” hangs a banner announcing that it has acquired the help of billionaire Elon Musk on Twitter.
However, this is only a move to “blur” traders on FOMO in SQUID, when in reality Elon Musk’s publish just outlined the Squid Game film due to its achievement past expectations.
Squid Game is Squid Game for ISPs
– Elon Musk (@elonmusk) October 22, 2021
Additionally, most Squid Game posts on the principal Twitter web page only update information about SQUID’s price tag hike, rather than the real progress of the game’s improvement.
From the over factors, Coinlive believes that Squid Game and the SQUID token are an particularly risky undertaking, lacking a strong basis and vague token mechanism. Investors need to have to be quite mindful to stay away from undesirable benefits.
Synthetic Currency 68
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