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You Can Now Invest In Pokémon Themed Cryptocurrency, Charizard Token

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You Can Now Invest In Pokémon Themed Cryptocurrency, Charizard Token

There is an actual Pokémon cryptocurrency, and its symbol is the only Pokémon that it could possibly be.

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I get it. Charizard is iconic. And it's likely a little late for suggestions, but I believe Rotom would have been a better choice. Right? According to its Pokédex entry in Pokémon Sword & Shield, "with a body made of plasma, it can inhabit all sorts of machines," and "it loves to surprise others." Mining cryptocurrency is a tricksy thing. It requires a pretty powerful rig to complete "blocks" (worth one megabyte) of verified transactions which are added to the blockchain. If you are the first miner to work out the correct or closest answer to a numeric problem, then that gets you the block, and you've earned the cryptocurrency generated in continuing the blockchain. Wouldn't a Rotom be ideally suited to mining cryptocurrency? Not a Charizard?

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Anyway. As aforementioned, it's all said and done now, and this is a token, which is a certain type of cryptocurrency. Tokens are representations of assets on the blockchain, and may be bought for investment, to hold onto value, or transferred for financial transactions. Still with me? "When we were setting up the Charizard Token we never expected it to grow so fast in such a short amount of time," said the team behind the cryptocurrency. "In a matter of hours, our community started growing beyond our wildest imagination. We decided to take things seriously and put in the work."

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It's purchasable through Pancakeswap, which is a decentralised exchange allowing users to convert BEP-20 tokens. However, there is a uniqueness to Charizard Token which was inspired by the pocket monster that it takes its title from. The initial token supply was precisely 38,000,000. But, Charizard will "burn" 5% of each transaction. 2% is charred away to ash (metaphorically), and the other 3% is redistributed to everyone who's purchased Charizard Token. The team has even got a section of the official website regarding the copyright status of using the Flame Pokémon.

"There are tons of Pokemon projects out there making a profit, and have been so for years. For example games like Pokemon Revolution, Pokemmo, etc. None of these have ever had copyright issues. It's safe to say, we're here to stay!" explained the creators of Charizard Token. Sure. I suppose. And on the topic of crypto art, they're working on creating them for every single Pokémon from Generation 1. "Not only will you be able to collect NFTs, you will also be able to trade them like Pokémon cards and use them to battle other holders!" read the description for the Founder NFT. Oh, um, generating the average NFT has a carbon footprint which works out approximately equal to a month's worth of electricity used by an EU citizen. So. In my opinion, there are more important things to save your money for.

Featured Image Credit: Pixabay via Pexels, The Pokémon Company

Topics: Pokemon, News

Imogen Donovan
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