Viral persona Haliey Welch has launched her official token on the Solana blockchain, the most recent in an extended line of superstar tokens floated on the community.
Welch went viral earlier this 12 months after utilizing a “hawk tuah” onomatopoeia to explain a sexual act. “Hawk Tuah” shortly turned a section used for memes throughout social platforms — making Welch an in a single day sensation from a minimal wage employee who didn’t even have an Instagram account.
As typically occurs with memes, “hawk tuah” has discovered its approach to the blockchain. Welch’s HAWK token went stay on Solana-based exchanges at 22:00 UTC on Wednesday in partnership with overHere, a token launchpad.
Minutes after HAWK started buying and selling, its market cap soared to $491 million — after which it dove under $100 million.
Welch beforehand distributed free tokens to her social media followers and supporters inside the meme and NFT communities throughout a marketing campaign held from Nov. 26 to Dec. 2.
An announcement shared with CoinDesk stated Welch cannot promote the HAWK tokens she acquired for one 12 months and they’ll vest over three years.
“Who doesn’t love a great meme?” Welch stated in a ready assertion. “Turning into a part of meme tradition me on the planet of crypto, and I’ve discovered a lot alongside the best way. Launching my very own token seems like the right subsequent step — not simply to create one thing significant for my followers but additionally to guard my group from scammers.”
HAWK is supported by a basis within the Cayman Islands by way of full authorized compliance within the U.S. with employed administrators on employees. It has raised cash from a gaggle of personal non-U.S. traders at a $34.5 million preliminary valuation.
Movie star tokens turned a short-lived rage inside the Solana ecosystem earlier this 12 months, with a number of area of interest and forgotten media artists releasing their tokens utilizing Pump.Enjoyable throughout a frenzied interval in Could.
Most tokens ended up falling 99% within the days, and even hours, afterward.
However Welch’s workforce says it’s in it for the long term, hoping to construct a group across the token and her followers in a bid to make it a profitable undertaking in the long run.
“Launching the $HAWK token creates a enjoyable, safe and modern approach for Haliey to get even nearer to her group,” Jonnie Forster, Welch’s supervisor, stated in a press release. “It not solely empowers her followers but additionally eliminates the confusion posed by scammers who’re consistently releasing unauthorized cash with out approvals of her title and likeness.”
