Squid Game Enters The World Of Crypto

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Last Updated on 11 October 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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Unless you’ve been traveling around the earth’s orbit (which thanks to a bunch of billionaires you’ll soon be able to do) this week, chances are pretty big you’ve heard of Squid Game.

The highly popular Netflix series topped streaming services in all major countries in Asia, Europe and North America, making global stars out of its cast. The female lead, Jung Ho-Yeon, who plays a North Korean defector and thief (known in the series as number 67), quickly became a fan favorite and now boasts 16 million followers on social media. She even landed a Louis Vuitton ambassadorship.

The premise of the story is quite simple. A group of highly indebted South Koreans are captured and kidnapped, to play simple children’s games in order to win a grand money scheme. For the losers there is death, for the ultimate winner, a major payout.

Advertentie.

Debt trap

Some commentators claim that the popularity of the series is down to the simple fact that many in the western world are fearful of their own debt and the plotline has them reacting to that fear.

It was of course only a matter of time before the cryptosphere would jump into that action, and now they’ve done just that with two instances. First up is Axie Infinity, the highly popular crypto token that combines NFTs with gaming. The founder of the coins launched a Squid Game meme contest about a week ago and promised Axie coins to the winner.

Second is the Squid Game Token itself, which launched to great fanfare this week. You can trade it already on the Binance Smart Chain.

South Koreans are of course super excited about anything cryptocurrencies, and according to 35-year-old office worker Koo Yong-Hyun from Seoul, this is also why Squid Game was such a hype with the current generation of millennials.

He explained in the New York Times that cryptocurrencies also “give people the chance to save their lives in a second”. Of course all of this will only last until the next hype comes along, but until then we say: red light, green light.