SQUID represents the official coin of the Squid Game project. The project is a play-to-earn platform. Meanwhile, the platform is intending to launch a tournament similar in November that mimics the six rounds of games in the TV show. However, contrary to the show the company explained “we do not provide deadly consequences apparently!”. Additionally, the prize of $38.5 million for the final winners and the number of participants in the show will not be the same.
Nonetheless, players will have to pay a pre-set price in squid tokens to participate in each of the tournament’s games. Some rounds will also oblige users to purchase a custom-made NFT available for sale on their website. Some of the NFTs include characters from the show.
That being said, participation in the game will come at a hard price. This is because taking part in the final game of the tournament will cost $15,000 or $33,450, and participants should buy NFTs.
Entry fees from each of the rounds are split between developers (10%) and the reward pool (90%).
