The controversial cryptocurrency that has received a lot of hype over social media SafeMoon (SAFEMOON) has made itself onto the rugby field as a sponsor in the Maori All Blacks game against Samoa.
SAFEMOON Overview
SAFEMOON is a cryptocurrency that has recently come out (early March) that has rocketed its launch. From its low at its opening of $0.000000044360, an extremely small amount, SAFEMOON has boomed up to a price at the time of writing of $0.00000296. Although still appearing a small amount, the movement that SAFEMOON experienced is enormous: 6615.4%. This is more than 66 times over 3 months. Currently, SAFEMOON is 61st according to the market cap that stands at the time of writing $1711992500 (~$1.7 billion).
The reason that SAFEMOON is such a controversial cryptocurrency is from the hype it has generated throughout the internet, including the popular social platform TikTok, combined with its questionable utility. According to the SafeMoon launch page, their cryptocurrency is defined as follows:
The SafeMoon Protocol is a community driven, fair launched DeFi Token. Three simple functions occur during each trade: Reflection, LP Acquisition, and Burn.
SafeMoon being defined as a DeFi token is likely a major influence on the negativity associated with it. This is further proven by the fact that the DeFi is based on the BSC (Binance Smart Chain) with a significant issue with the legitimacy of DeFis within the blockchain, many being illegitimate or vulnerable to the market and its users' moves. SAFEMOON is also mainly traded via PancakeSwap, the top three pairs being based on its exchange respectively as Wrapped Binance Coin (WBNB), Ethereum (ETH) and TerraUSD(UST). With SAFEMOON being such a large cryptocurrency being within the top 100 and having over 2 million holders, it would be expected that SAFEMOON would have their own exchange to provide the trade, but this is not the case.
However, SAFEMOON mentions that one of its products 'Coming Soon' is the SafeMoon exchange, likely to include SAFEMOON pairs to interchange between them. The SafeMoon exchange appears to be expected to work similar to many current popular exchanges, including Binance and KuCoin, but have a 'revolutionary new idea that will be bring[ing] tokenomics to all of crypto on it's platform.' SafeMoon calls the 'revolutionary new idea' Cryptonomics, a coined term from tokenomics and crypto.
SAFEMOON is promised as a cryptocurrency to the moon in price in due time, though it seems that there is no hype in the utility of the SAFEMOON. This can be related to Dogecoin (DOGE) with the hype centred around media influencers keen on crypto, particularly Elon Musk via Twitter, though is beginning to have more and more utility to it as time goes. DOGE also stands within the top 10 in market cap, at the time of writing 7th with a market cap of $30,278,926,990. The trend of SAFEMOON does not suggest a 'safe moon,' its price over recent times remaining relatively stable with a negative incline.
SAFEMOON In Rugby
The appearance of SAFEMOON within a rugby union game comes in New Zealand. It was a test match between the Maori All Blacks and Manu Samoa, the Maori All Blacks winning by 35-10 in Sky Stadium, Wellington. SAFEMOON was advertised as a print on the field of the game, thus a sponsor for the match.
The Samoa Rugby Twitter account gave a shoutout (S/O) to the SafeMoon sponsor for the match, suggesting a relationship between the two. The tweet is shown below and can be visited here: https://twitter.com/SamoaRugby/status/1408696931816153089.
Scrolling through the comment section, the majority of comments seem to praise the sponsorship of SAFEMOON, attributing it to the moon trend that is expected to occur in due time. No comments specifically demote SAFEMOON, nor do any reference to its products/utility, which demonstrates the unconditional hype surrounded SAFEMOON.
Different reactions were tweeted in regards to the appearance of the SAFEMOON advertisement within the rugby field. One questioned the appearance of the ad, surprised at such an appearance, which is an understandable sensation. Crypto is usually based within the internet and rarely makes it out to the real world, yet SAFEMOON goes against this and comes out into the rugby field. However, there is rising usage of crypto within sports teams across a range of sports, from basketball to soccer. For example, the NBA team Dallas Mavericks accepts Bitcoin (BTC) and Dogecoin (DOGE) while the Ukrainian soccer team FC Dynamo Kyiv is promising to sell its tickets as NFTs via the Binance NFT Marketplace. The tweet surprised by SAFEMOON's appearance is shown below and can be visited here: https://twitter.com/Sh4miya/status/1408692936418627586.
One other post was adored with the appearance of the SAFEMOON advertisement, especially since the broadcaster Sky TV showed it within its recording. This is arguably another case of SAFEMOON hype. The tweet is shown below and can be visited here: https://twitter.com/emcverse/status/1408690046895599620.
Further Reading
RugbyPass - Random Cryptocurrency labelled a 'scam' appears on the field in Maori All Blacks versus Samoa test - https://www.rugbypass.com/news/random-cryptocurrency-labelled-a-scam-appears-on-the-field-in-maori-all-blacks-versus-samoa-test/
CryptoDaily - SafeMoon Becomes Rugby Field Sponsor- https://cryptodaily.co.uk/2021/07/safemoon-becomes-rugby-field-sponsor
CoinDesk - DOGE Adoption on the Rise. Dallas Mavericks to Accept Dogecoin for Tickets, Merchandise - https://www.coindesk.com/git-along-lil-doge-dallas-mavs-to-accept-dogecoin-for-tickets-merchandise
capital.com - Dynamo Kyiv to sell tickets via non-fungible tokens - https://capital.com/dynamo-kyiv-to-sell-tickets-via-non-fungible-tokens
RugbyPass - FULL MATCH | Māori All Blacks v Samoa | Game 1 - 2021 | RugbyPass - https://www.youtube.com/watch?v=e4h2ZDQBm7s
