Viral persona Haliey Welch has launched her official token on the Solana blockchain, the most recent in an extended line of movie star tokens floated on the community.
Welch went viral earlier this yr after utilizing a “hawk tuah” onomatopoeia to explain a sexual act. “Hawk Tuah” rapidly grew to become 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 option to the blockchain. Welch’s HAWK token went reside 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 throughout the meme and NFT communities throughout a marketing campaign held from Nov. 26 to Dec. 2.
A press release shared with CoinDesk stated Welch cannot promote the HAWK tokens she obtained for one yr and they’re going to vest over three years.
“Who doesn’t love a superb meme?” Welch stated in a ready assertion. “Changing into a part of meme tradition me on this planet of crypto, and I’ve realized a lot alongside the way in which. Launching my very own token appears like the right subsequent step — not simply to create one thing significant for my followers but additionally to guard my neighborhood from scammers.”
HAWK is supported by a basis within the Cayman Islands via full authorized compliance within the U.S. with employed administrators on workers. It has raised cash from a gaggle of personal non-U.S. buyers at a $34.5 million preliminary valuation.
Superstar tokens grew to become a short-lived rage throughout the Solana ecosystem earlier this yr, with a number of area of interest and forgotten media artists releasing their tokens utilizing Pump.Enjoyable throughout a frenzied interval in Might.
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 neighborhood across the token and her followers in a bid to make it a profitable mission in the long run.
“Launching the $HAWK token creates a enjoyable, safe and modern approach for Haliey to get even nearer to her neighborhood,” Jonnie Forster, Welch’s supervisor, stated in an announcement. “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.”
