The cryptocurrency of this tiktoker called 'Scam' achieved a success that its creator cannot believe

Andrew Lewis launched the currency as a joke, but now everything indicates that he will take it seriously.
The cryptocurrency of this tiktoker called 'Scam' achieved a success that its creator cannot believe
Image credit: @itsTyace vía Twitter

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Entrepreneur Staff
2 min read
This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

More and more about the boom of the criptomonedas . This time a tiktoker named Dre launched his own digital currency as a joke. What the young man did not expect was that his currency would reach a capitalization of 70 million dollars at its launch, although it would later fall to 2.5 million dollars.

According to Vice , Dre, whose real name is Andrew Lewis , explained that he developed SCAM (which translates as 'scam') with the aim of making fun of other “shitcoins” or junk cryptocurrencies, which are used to exploit people who want to get rich quick.

SCAM is actually the acronym for “ Simple Cool Automatic Money ”. Lewis explained that he doesn't know how to handle this and that he simply created it as a joke, adding that he hopes it will turn out to be something useful to the world.

A turn of fortunate events

Lewis comments that it was only meant to "make fun" of the other digital currencies that even emerged from a meme. However, he never thought that people would invest in SCAM and that shortly after its launch it would reach a capitalization of $ 70 million and even a community called “Scamily” and a Discord channel with 2000 members emerged.

Although now Lewis's project is in an uncertain place as its value has been falling. The young man is taking the matter much more seriously by submitting a future plans sheet on his website and explaining why SCAM is not really a scam. Lewis wants to make this cryptocurrency educational.

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