SquidGameToken
Crypto Overview
Purpose and Utility Analysis
The Squid Game Token (SGT) was launched in late 2021 inspired by the Netflix series. It initially claimed to be a play-to-earn gaming platform where users could participate in games similar to those in the show.
The original token was revealed to be a scam where developers performed a 'rug pull' in November 2021, making off with approximately $3.38 million in investor funds. The token price collapsed to zero and trading was halted.
Multiple copycat tokens have emerged since then using similar names and branding, but none have demonstrated legitimate utility or development activity.
Business Model Evaluation
The business model relied heavily on exploiting the popularity of the Netflix show without having any rights to the intellectual property. The project did not demonstrate any legitimate technological development or real-world utility implementation.
Development Activity
There is no evidence of genuine development activity, either from the original token or subsequent copycats. No legitimate partnerships, no functional platform, and no real ecosystem have been established.
Token Distribution
The original token's distribution was highly centralized with developers maintaining control of liquidity pools, enabling the rug pull. Similar patterns have been observed in copycat tokens.
Crypto Impact
To assign a comfort level investing in SquidGameToken from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to SquidGameToken.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.