- Soulja Boy announces game update.
- Fans show mixed reactions.
- $SBOY token surges 157%.
Influencers are becoming more and more involved in the crypto space, doing whatever it takes to attention to their memecoins. One of the latest examples is American rapper Soulja Boy, who has been promoting an upcoming video game tied to his cryptocurrency token, $SBOY, on the Solana blockchain.
The anticipation surrounding this project has led to significant market activity, pushing the token up substantially. The increase in price came even as many of his fans were skeptical of the game.
Soulja Boy Token Up 157%
Influencers are increasingly exploring the connection between crypto and gaming. On Wednesday, August 14, Soulja Boy announced that his video game, tied to his $SBOY memecoin, is nearly over. The game generated a wave of reactions across social media, both good and bad. Yet, despite this, the token was up significantly.
The $SBOY token, based on the Solana blockchain, surged by 157% from $0,000278 to a peak of $0,000649 following the game update. Soulja Boy highlighted this in a later post on social media, saying that the token was going viral.
Still, it is not clear whether this will boost the token indefinitely. Just a few hours after the announcement, the token corrected its price to 0,000399, still up 47% compared to 24 hours ago.
Mixed Reactions to Soulja Boy Video Game
The surge in activity behind the $SBOY token came after Soulja Boy teased a screenshot from his upcoming crypto game. The image released, showing a character in what appears to be an arcade-like setting, raised questions about the game’s overall quality and design.
One user questioned the viability of the project, asking, “Man, who’s gonna play this?” Another pointed out the short development time. “Considering this have like 2-3 months in work? Looks great, dev cooking,” adding that bigger games require at least one to two years of work.
The reactions highlighted the problem with crypto gaming in general. Big game titles have budgets upwards of hundreds of millions of dollars, and take years in development. Despite the advancements in game engines and assets, it will be long until influencers can release a triple-A title.
On the Flipside
- Soulja Boy previously came under criticism for rapidly releasing low-effort NTFs, before abandoning each one.
- Influencer cryptos, especially Solana-based memecoins, have a dismal record. In July, all celebrity tokens on Solana were down, from -99,98% to -73,23%.
Why This Matters
This case highlights the exuberance often associated with memecoins, especially celebrity-backed projects. Despite the significant risks involved, and Soulja Boy’s track record, many people are still willing to invest, in hopes of quick gains.
Read more about failing celebrity tokens:
Every Solana Celebrity Crypto is Massively Down: Here’s Why
Read more about Bitget’s Wallet performance:
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