Quentin Tarantino Joins NFT Euphoria, Squid Game Token Exit Scam: Crypto News Digest
Seven uncut Pulp Fiction scenes will be released as NFTs on leading digital collectibles marketplace OpenSea
Never a dull day in our segment: when the cinema industry meets cryptocurrencies, brace yourself for either six-digit NFTs sale or dramatic exit scam.
Quentin Tarantino is ready to break into NFTs
Iconic director and writer Quentin Tarantino announces the release of seven uncut scenes from Pulp Fiction (1994) as non-fungible tokens (NFT) drop. The NFTs will be available on the OpenSea marketplace.
Secret Network, a privacy-focused blockchain, is a technical framework for Tarantino’s first release. Its NFT module allows to obfuscate the metadata about the transactions included in Secret Network’s blocks.
Besides uncut scenes, NFT drop will also include secret content: first draft scripts of Pulp Fiction and Tarantino’s custom commentary.
According to CNBC, Quentin Tarantino is fascinated by the prospects of NFT segment and is beyond ecstatic to make his first foray into this space:
I’m excited to be presenting these exclusive scenes from ‘Pulp Fiction’ to fans. Secret Network and Secret NFTs provide a whole new world of connecting fans and artists and I’m thrilled to be a part of that.
Don’t play your ‘Squid Games’ with crypto
A team of SQUID tokens that were dedicated to the red-hot Netflix show Squid Game, escaped with one of the largest rug pulls in cryptocurrencies history. Prior to this ‘rud pull’, SQUID price added almost 2,900% in no time.
The token had too many red flags from the very beginning: its website was created after the release of Squid Game and no credible sources confirmed that it was somehow connected to the original show. At the same time, its developers insisted that SQUID is a brainchild of partners of Binance Smart Chain, OpenSea, Binance’s CoinMarketCap, CoinGecko, and Microsoft.
The design of this token didn’t allow its holders to sell it: that’s what catalyzed such an impressive price rally. As such, the entire liquidity injected by its investors was amassed by one SQUID/BNB liquidity pool on PancakeSwap.
On November 1, 2021, its developers market-sold 22,328 BNB ($11.9 million) from this liquidity pool. SQUID price immediately dropped from $2,856 to $0.00079.
Salvador’s Bitcoin program to fund 20 schools
El Salvador, the first-ever nation-state to adopt Bitcoin (BTC)as a legal tender, shared latest updates on the social impact of this initiative. Some profits from national Bitcoin (BTC) trust will be converted into fiat to support local educational institutions.
This distribution of Bitcoin (BTC) surplus will mark the beginning of a nationwide infrastructure program: 400 schools will be opened within the “My New School” program.
Also, in early Q4, 2021, surplus from Bitcoin (BTC) trust fueled the construction of a veterinary clinic in El Salvador. Net amount of this funding surpassed $4 million.