Inspired by the mystery of the ‘ghost dog’ said to be roaming the mountains of Saitama, Japan, and bringing luck, Saitama Inu wants to help people improve their financial performance through crypto. The project’s goal is to provide a platform where experts share information with members, especially Gen Z, so they can be more financially successful.
What you need to know about Saitama Inu
Saitama Inu was launched on 31 May 2021 by an anonymous creator. Although the whitepaper doesn’t name them, the project has gone on with the support of a loyal group of supporters. About 40 members currently run the project. Many of them are financial gurus and the rest have expertise in crypto.
Both sets of skills will be important in reaching the project goal of educating members. Indeed, this is the main goal of the Saitama Inu project – to educate the next generation of investors. Thanks to the expertise and experience of the project runners, new investors will have guidance and access to unique and lucrative investment choices.
Recently, the group has also included Willie D, a member of the rap group Geto Boys. His role would be to acquire new talent through his popularity as well as NFT curation. The deal between Willie D and Saitama LLC was reported as being worth over $50 million. But that shouldn’t be a surprise considering the over $3 billion market cap of SAITAMA.
How Saitama Inu works
At the core of the Saitama Inu network is the Saitama Edutainment platform. As you can tell from its description, it will combine both education and entertainment. It is important to do this so as to make investment fun as well as be profitable. 93% of Gen Z say they feel confused about finance and investment, yet it is extremely important. So Saitama wants to make it more fun and accessible.
To achieve this, Saitama Studios will be developed and integrated into the ecosystem. On this there will be a variety of fun items and services including games, books, toys, manga, TV shows and others from 3rd party brands. One such game is Wolfcaster where players use wolf avatars to battle against other players. In addition, an NFT line featuring different pieces like virtual jewellery and trading cards has also been released.
This edutainment platform will be hosted on SaitaMask, a smart digital wallet that will have other functions similar to other crypto wallets. Some of these will include:
- Trading of NFTs
- Purchasing other tokens using fiat
- Shopping for DeFi tokens
SaitaMask is not yet live but it will be launched in November 2021. Afterwards, SaitaMaker will be introduced where users will be able to create, sell and trade NFTs. Then SaitaMarket will be launched on the mobile crypto wallet for users to trade goods and services. It will be a crypto market for all Saitama Inu users to trade all sorts of tokens amongst each other.
Running through the platform is SAITAMA, which is the network’s native currency. It is an ERC-20 token meaning that it is based on the Ethereum network. You can find more information about it on platforms like Etherscan. For instance, you will find the number of holders and the complete history of transactions.
The Saitama Inu network survives by incentivizing investors to hold SAITAMA for the long term. This is why, after charging a fee for all transactions, 2% of the fee is used to redistribute $SAITAMA tokens back to holders of the coin. Therefore, investors/holders will continuously receive more tokens over time as long as there is trading activity and the associated transaction fees.
Being a deflationary currency, a further 2% is burned during every transaction to reduce the number of SAITAMA tokens in circulation. Remember, this happens even though 49% of the supply was burned at the launch of the coin. Since 100 quadrillion $SAITAMA tokens were created at launch, there are now less than half that in circulation. This further adds to the value of the token due to decreased supply.
How to purchase $SAITAMA
You can now buy the token on Uniswap and central exchanges like Lbank, Bilaxy and Coinsbit. What you need is to find the right contract address from reliable sources like the Saitama Inu official website. It is critical to do so since transactions are not reversible. You can already reach out to them on the Telegram channel or other social media sites like Twitter.
Being an ERC-20 token, you will first need to acquire ETH from another exchange. This can be a DEX or CEX like Binance where you can even use fiat currency. Then you can connect your wallet to Uniswap using a browser extension like Metamask. Alternatively, purchase it directly from CEXes where $SAITAMA is listed such as Lbank. Once the token is in your wallet, you will immediately start to notice the number of tokens increase gradually.
Why is Saitama Inu of interest?
This crypto project first caught our eye when the price exploded on 29 October. Over 260,000 wallets now hold the token showing just how much interest it has drawn. This mainly happened after it was announced that SAITAMA would be listed on a number of major crypto exchanges including Bitmart.
Getting listed on such major exchanges is considered a stamp of approval. So naturally, the coin’s price soared on the back of the news. Rumours of it being listed on Binance and Coinbase further fueled the fire leading to the huge change on the price chart below from Poocoin.
Add to that, Saitama Inu is gaining traction due to the ambitious goals outlined in the whitepaper. If SaitaMask, SaitaMaker and SaitaMarket are all launched successfully, then the Saitama platform will have actual value. In fact, the SaitaMask launch is expected in November and the mobile apps are highly anticipated. The goal among the community, the wolfpack, is now to kill another zero from the coin’s price. With the launch of SaitaMask during this quarter, this might happen before the end of the year. According to our future price prediction for 2025, it’s likely to see the price of SAITAMA reach $0.00001 and perhaps 0.0001 by 2030.