Pokemon fans looking to get in on the Bitcoin craze have created a new cryptocurrency called $PIKA. The viral meme money is allegedly themed around the Nintendo series’ mascot, Pikachu, and can even evolve.
Originally created in 2009, Bitcoin kicked off a new financial platform with cryptocurrency. While the digital form of payment has been valuable for years now, meme coinage such as Dogecoin has exploded in popularity and price in 2021.
Looking to cash in on the meme-based markets, some Pokemon fans have banded together to create a new crypto called $PIKA. The Nintendo-inspired coin is turning heads with some in the community who are furious over its existence.
Pokemon fans create Pikachu cryptocurrency
While PikaCrypto has been in the works for a while, the meme currency went viral on social media in May when popular Pokemon Historian Dr. Lava made a post about it on Twitter. The content creator stunned fans who were not aware of the Nintendo-themed crypto.
“Pokemon fans recently created a new cryptocurrency called $PIKA, which evolves into RAI coins,” he explained, while also tweeting out an infographic that showcases the evolution stages of the coin should it reach certain conditions.
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Lave further explained that users want it to be a currency that fans exchange with others. “Supporters are hoping it’ll become the next meme coin, grow popular as a means of exchange between Pokemon fans, and skyrocket past its current $7.5mil valuation.”
Pokemon fans recently created a new cryptocurrency called $PIKA, which evolve into RAI coins. Supporters are hoping it'll become the next meme coin, grow popular as a means of exchange between Pokemon fans, and skyrocket past its current $7.5mil valuation. pic.twitter.com/3RUZMgmXM5
— Dr. Lava's Lost Pokemon (@DrLavaYT) May 20, 2021
Many in the Pokemon community were not only skeptical of the project but became outraged by it. “I have never wanted to see something flop more nor have I ever wanted to see a legal team shut down a fan production until this point,” a fan wrote angrily. Another user agreed and exclaimed, “For once I hope Nintendo sues someone and takes this down.”
A player even hit out at the entire fandom over the project: “People thought that the more recent mainline games was the low point for the fandom? No, I say this is.” One comment bluntly replied, “Great, now Pokemon fans can get rekt on pump and dump memecoins.”
Those invested in the currency defended the project amid the mounting backlash online, pointing out that a “Pika” is a real-life animal in East Asia and that the crypto coin doesn’t actually mention Pokemon or feature any of its brandings.
Despite that, many in the Pokemon community were not buying it and were furious over $PIKA. Some fans even went as far as to tag Nintendo’s official account to complain. Regardless of where you fall on the debate, it looks like meme currencies are only getting started.