Gameplay doesn't come cheap, especially at current prices. Some of these NFTs feature characters from the show, including the guards who wear full-body reddish-pink suits (the exact coloring has prompted a heated debate among show fans) and black masks covering their entire face. Players will, however, have to pay a preset price in squid tokens in order to participate in each game, and some rounds also require users to purchase a custom-made NFT, available for sale on their website. But unlike its Netflix counterpart, the company said "we do not provide deadly consequences apparently!"
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The online tournament, which launches in November, mimics the six rounds of games featured in its namesake TV show. The squid token was launched as the exclusive coin of the Squid Game project - a crypto play-to-earn platform. The meme-inspired shiba inu coin, for example, has doubled in price in the last week. 20 and apparently "sold out in 1 second," according to its white paper, joins a list of other parody cryptocurrencies that have witnessed big run-ups for no particular reason, other than good publicity.
Netflix told CNBC it has nothing to do with the currency and doesn't endorse it. It is unclear why some users are unable to sell their tokens, but the white paper describing the coin does lay out an anti-dumping technology that prevents people from selling their coins if certain conditions are not met.ĬNBC reached out through contact information listed on the Squid website to ask whether the developers were aware of the problem and working to fix it, and didn't immediately hear back. CoinMarketCap has issued a warning, saying that it's received "multiple reports" that users are not able to sell this token on Pancakeswap, a popular decentralized exchange. However, those interested in taking part may want to exercise caution before jumping into trading squid.
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