SquidGameToken

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.