The SQUID coin was developed based on this film and television work. It is a meme token on the Binance Smart Chain and belongs to the popular Netflix series of tokens of the same name. The token was launched with the promise of an earn-by-playing game inspired by the TV series House of Cards.
The latest market price of SQUID coin
＄0.01 ≈ ¥0.07
##What is the contract address of SQUID coin?
The Squid Coin contract address is: 0x87230146E138d3F296a9a77e497A2A83012e9Bc5
This virtual currency is an exclusive token of the game platform with the same name as the Squid game. The platform imitates the six-round competition in the show, and the prize money received by the final winner will be distributed in the form of this just-released "squid coin". The competition will launch in November.
Different from the original version, the platform stated: "We obviously will not provide fatal consequences!"
Moreover, the jackpot in the play is capped at $38.5 million, and this virtual simulation game will There is no upper limit on the final prize, nor is there a limit on the number of participants.
However, players must first pay a preset price of Squid Coins to participate in each game, and some rounds also require users to purchase customized NFTs (non-fungible tokens, similar in this game) that are sold on the platform. in game skins or props). Some of the NFTs feature characters from the show, including a guard wearing a red suit and a black mask.
Gameplay isn't cheap, especially with the current skyrocketing prices. To participate in the final game, players must pay 15,000 Squid Coins (approximately $33,450) and purchase an NFT. The entry fee for each round is divided equally between the developers (10%) and the reward pool (90%).
The platform also offers a pinball pool where holders can earn tokens by staking, using their cryptocurrency holdings as collateral to earn passive income.
How about squid coins?
However, whether it is because they yearn to participate in the squid game, or because they simply want to make a wave of money, investors may need to be cautious.
CoinMarketCap has issued a warning saying it has received “multiple reports” that users are unable to sell the token on Pancakeswap. Pancakeswap is a popular decentralized exchange. It’s unclear why some users are unable to sell their coins, but the white paper describing Squid Coin does propose an anti-dumping technology that would prevent people from selling if certain conditions are not met.
CNBC reached out to the developer via the contact details listed on the Squid Gaming platform to ask if they were aware of the issue and working to resolve it, but did not receive an immediate response.
In this situation, it is difficult not to think of (21.66,0.13,0.58%) spoof tokens such as "Dogecoin" and "Shiba Inucoin". There has never been any real reason for the rise of this type of virtual currency, nor any reliable value basis. It is all a bubble created by speculators.
In the current era where “everything can be coined” and virtual currencies are growing wildly, it is a wise move to resolutely shut out risks.
In addition, there is another important issue that seems to have been ignored: is Netflix authorized to develop the same game platform and issue tokens with the same name?
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