You can be on Entrepreneur’s cover!

There's Now a 'Squid Game' Cryptocurrency - And It's Jumped More Than 75,000% In Under a Week SQUID has surged more than 75,000% in less than a week.

By Huileng Tan

entrepreneur daily

This story originally appeared on Business Insider

Netflix via BI

Netflix hit "Squid Game" has extended its reach into the cryptocurrency sphere with the SQUID token - and it's already up well over 75,000% this week, according to CoinMarketCap.

"Squid Game" is a South Korean dystopian series about people competing for prize money in brutal survival games. The hit series is a runaway success and has become a global cultural phenomenon.

SQUID was trading around 1.2 cents on Tuesday, but it's now at $9.19 - a surge of more than 75,000%. Its fully diluted market cap is now approximately $722 million.

Pre-sales of SQUID started on Oct. 20 and, according to its white paper, "sold out in 1 second."

It's a "play-to-earn" cryptocurrency. SQUID holders can take part in online games inspired by games in the show. Entry fees are charged in SQUID - 10% of which go to the developers, and the rest is invested back into the reward pool.

"The more people join, the larger reward pool will be," according to the white paper. "More importantly, we do not provide deadly consequences apparently! Your experience will only reflect on the joy of winning rewards and sorrow of losing money when the game failed," it adds.

SQUID joins meme coins such as the shiba inu in posting massive price rallies seemingly spurred by no particular reason.

Correction: An earlier version of this article said SQUID cryptocurrency had jumped 2,000%.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Side Hustle

This Flexible Side Hustle Is Helping Millions Earn Extra Cash — and Might Be 'More Attractive' Than an Office Job

Side hustles remain popular for additional income — and have many questioning the 9-5 model altogether.

Marketing

A Step-by-Step Guide on How to Make Money With Facebook Ads, According to Experts

Creating the right message is a crucial first step to making money with Facebook ads, but it doesn't end there. This guide will help you create ads that actually convert.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Business News

A Surprising Number of U.S. Couples Have Secret Financial Accounts, According to a New Survey — And Most Have Not Talked About a Key Retirement Question

Two in five Gen X and young Boomer couples surveyed do not have a financial plan in place for retiring together.

Business Models

Why the Coaching Industry Is Poised for Transformative Growth in the Gig Economy Era — and How to Navigate the Waves of Change

This article highlights five trends shaping the coaching industry and offers insights into how entrepreneurs can adapt and thrive in this evolving landscape.