The Pirate Bay brings its own token – which is already worth 1 billion dollars
Pirate token. (Photo: donfiore / Shutterstock)
The operators of the bit torrent tracker The Pirate Bay have apparently launched their own token. It is still unclear whether the pirate token (TPB) is a sustainable project.
The Pirate Bay is considered a crypto pioneer. The operators of the bit torrent tracker accepted bitcoins as a means of payment for donations over eight years ago. The website was also among the first to use its users’ hardware resources to mine cryptocurrencies – a controversial move that many other websites later emulated. Now The Pirate Bay seems to have launched its own token.
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Trade pirate tokens via pancakeswap
How Torrentfreak reports, The Pirate Bay was offline for a few days last week. When the website went back online, there was another of the decentralized crypto exchange based on Binance smart chain, Pancakeswap, in addition to the actual logo. There, users can exchange various crypto currencies. The new logo is linked to the pancakeswap platform. The link leads to a page where you can exchange various digital currencies for the pirate token.
After critical voices initially predominated in the crypto and torrent community, who described the pirate token as an attempted scam, The Pirate Bay recently officially spoke up. The token is the soft launch of a new thing that you want to try. One of the ideas for using the token is the ability to donate something to uploaders or moderators. VIP content, member logins or streaming offers could also be processed via the Binance smart chain and the token in the future. First of all, they want to secure more liquidity.
The persistent popularity of the website as well as the current crypto hype could actually help the pirate token to some degree of success. According to poocoin.app a pirate token is currently worth around ten US dollars. The market capitalization amounts to around one billion dollars. On Coinmarketcap, the token would have succeeded in entering the top 100 crypto currencies right from the start. The previous high of the pirate token price was around $ 17 at the start. The low point was reached just a few hours later, when the pirate token was now only worth three dollars. Since then the price has recovered.
The Pirate Bay: Risky Token
Interested parties should nevertheless consider a possible entry very carefully and, if at all, only invest money that they can definitely get over. After all, the token could lose its value completely in a short time – or the makers say goodbye with the money they have earned. According to the chain bulletin 99.979 percent of the tokens were in the hands of the developers at the start and there were only 40 – probably – external buyers. After a few days of trading, the number of accounts has increased to around 500. The number of transfers is total according to BSC scan currently to less than 2,000.
