People devoured episode after episode of the series, and it swiftly became a worldwide phenomenon (which was often left as a cliffhanger to entice viewers). As a result, a group of people decided to cash in on the craze and launch the Squid Game cryptocurrency. Although it may appear strange, this is how most cryptocurrencies begin; they are simply somebody with an idea. This is why it’s so important to do your homework before investing in any altcoin because you’re truly investing in the individuals behind the project. This is what distinguishes Bitcoin from other cryptocurrencies in that it has no inventor. That, however, is a different tale.
The Squid Game cryptocurrency, known as SQUID, had no backers. Instead of a coin called SQUID, the whitepaper for Binance Smart Chain may be found by going to the website and clicking on the whitepaper link. The coin’s developers are likewise untraceable on the internet. All of this is poor news for investors, as it allows creators to slump more easily in the future.
SQUID’s website reveals that the show’s makers were having a lot of fun with the concept. They even included a raffle where you could participate for a chance to win the same amount of SQUID as the show’s main prize of Won. However, closer inspection reveals that this token is a farce since it even states that holders can “select out of the game with a 50% vote,” which is a statement from the show but has no meaning in the cryptocurrency world. In any case, SQUID was never a genuine coin.
Also Read: We Must Learn These Finance Lessons From The Squid Game
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