[Netflix](https://www.netflix.com/) is a powerhouse in the streaming world, and it looks like it could be about to enter the cryptocurrency market. There are rumors that the company is planning to launch its own Netflix cryptocurrency. If this is true, it would be a massive move for both Netflix and the cryptocurrency world.

## What's the Netflix Cryptocurrency Position?

As the popularity of cryptocurrencies grows, people are eager to know if there will be Netflix cryptocurrency. There's nothing official from Netflix yet, but it is certainly possible that it could create a cryptocurrency in the future.

Such a move would make sense for Netflix, as it would allow them to tap into the growing cryptocurrency market and provide their customers with a new way to pay for their subscriptions.

Netflix has already shown an interest in blockchain technology, the underlying technology behind cryptocurrencies. In 2018, they launched a "Netflix Blockchain Explorer" project, which allows users to view information about transactions on the [Bitcoin](/coins/btc) blockchain.

So, while there is no official word from Netflix yet, it is certainly possible that they could create a cryptocurrency in the future.

## How Netflix is Open to the Idea of Netflix Cryptocurrency

It's the hot new topic in the world of finance - will Netflix be the next company to launch its cryptocurrency? While the streaming giant has not made any official announcements, there are plenty of reasons to believe that Netflix could prepare to enter the crypto space.

For one thing, Netflix has been a strong advocate of blockchain technology, with several executives openly expressing their interest in the potential of digital currencies. In addition, Netflix has recently partnered with several major cryptocurrency exchanges, providing further evidence that the company is seriously exploring the possibility of launching its own Netflix cryptocurrency.

Of course, only time will tell whether or not Netflix eventually decides to launch its crypto coin. Experience dictates that we will likely see a Netflix cryptocurrency sooner rather than later.

## The Possible Impact of Netflix Cryptocurrency

While the streaming service is yet to comment on the rumors, we must admit that a Netflix crypto would make a lot of sense. After all, what could be more convenient than being able to pay for your Netflix subscription with a few clicks of a button?
With Netflix's ever-expanding global reach, a Netflix crypto would make it easier for people from all over the world to join the streaming revolution.

Of course, there are also some potential downsides to a Netflix cryptocurrency.

For one thing, it could open the door to Netflix price manipulation. After all, if Netflix was to start accepting Bitcoin as payment, then the price of Bitcoin could potentially skyrocket.

This is all speculation, but it's certainly something to keep an eye on in the months and years ahead. Who knows? We may be seeing a Netflix cryptocurrency.

Netflix Cryptocurrency: When will it Happen?

'Squid Game' token has recently collapsed as it is revealed to be a scam. The token was inspired by the popular Netflix series, Squid Game.

The pre-sale for Squid Game Tokens got off to a ridiculous start on 25 October, which saw the price of one token rise to $196. Within days it had plummeted back down to just below $20.

Gizmodo has traced some transactions made by the site's founders that appear to reveal plans to move funds into offshore bank accounts.

## Reddit Thread

A Reddit thread from 29 October posted by a user called Squid\_Help tried to dispel rumours that the project was a scam. They claimed that "SquidCorp's founders have been working on the project late into the night and at weekends for several months now". The post has since been deleted, according to Gizmodo.

This type of scam is usually known as a 'rug pull' by crypto investors. It's when promoters of an ICO use fake claims to try and generate hype in order to pump up the value of their tokens, before cashing in. The scam was popularised by Wolf of Wall Street Jordan Belfort and is often known as a 'pump and dump' scheme. This is where people would buy stocks that had been tipped off to some type of positive news.

## Watch Out For Scams

The value of cryptocurrencies can be extremely volatile, which means it's easy for scammers to make money this way. There are other, more sophisticated variants of the scam that are harder to protect against.

Many people had their doubts after the website for the token had misspellings and grammatical errors. The website and social media pages have since disappeared.


Squid Game Crypto Collapses in Reported $3m Scam

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