The day after actor Will Smith slapped comedian Chris Rock at the 2022 Academy Awards, the altercation was the topic of conversation throughout social media and news outlets. Memes started showing up around the internet. There's even word that the slap is memorialized on a digital asset. Is the Will Smith crypto coin legit?
Yes, it’s true, it didn’t take long for the crypto world to introduce a coin related to the incident. CryptoNews reported on March 29 that a Will Smith Inu (WSI) token started trading on the Uniswap decentralized exchange just a day after the now-infamous slap.
If you don’t know anything about the Oscars altercation (perhaps you live under a rock), during the March 27 awards ceremony, Rock made a “G.I. Jane” joke about Jada Pinkett Smith, Smith’s wife, who is sporting a shaved head due in part to an autoimmune condition called alopecia. The joke prompted Smith to stomp up to the stage and slap Rock. The incident didn’t prevent Smith from winning Best Actor for his role in King Richard.
Who created the Will Smith crypto coin?
There isn't much information available about the Will Smith Inu, such as who created it. A website for the crypto says, “WILL SMITH INU is the next hottest crypto meme this bull run! We are an experienced DeFi native team, a community of chads; and most importantly the NEXT bullish meme in the hottest bull market of 2022! $WSI to the moon!”
Regardless of the lack of intel on the Ethereum-based token, demand for the coin is high, and its value skyrocketed 469 percent within 24 hours on March 29.
There's also a Will Smith slap NFT.
Are you more interested in NFTs? You’re in luck because there's also a Will Smith Slap DAO NFT collection trading on decentralized marketplace OpenSea. The collection includes 2,000 items featuring GIFs of the Will Smith slap. About 13.7 trades of the NFT collection have already been recorded as of the morning of March 30, which is valued at more than $47,000.
Other pop culture references have inspired digital assets.
This isn't the first time an event or incident in pop culture has influenced the crypto and NFT world. The popularity of the Netflix show Squid Game inspired the SQUID crypto last year. In 2014, Rapper Kanye West sued and won a lawsuit against the creators of the Coinye Bitcoin, which featured a parody image of him.
Investors interested in buying the Will Smith Inu should be wary that the crypto coin doesn’t end up being a rug pull like the SQUID coin. A rug pull is a scam in the crypto world where a developer quickly creates a new token, makes money off of investors, and then pulls the rug out from under the project and disappears with investors’ funds.
According to blockchain analysis company, Chainalysis, rug pulls accounted for 37 percent of cryptocurrency scam revenue in 2021.