“Matt Damon told me, ‘Fortune favors the brave,’ and now I lost all my f-ing money.”
That line, repeated ad nauseam in the TV special South Park: The Streaming Wars, wasn’t ostensibly meant to make South Park fans bullish on the crypto economy — and, astoundingly, neither is the sales pitch for Burn Kenny Coin ($KENNY), a fan-made crypto coin that launched on Thursday, July 20th. The project rolled out touting the dubious endorsement from its creators that investing in Burn Kenny Coin and expecting to turn a profit is “like betting on Kenny surviving an episode — not likely, but wouldn’t it be a hoot?”
Burn Kenny Coin is similar to the many meme coins that crowd the cryptocurrency market, only with a unique twist — out of the initial token supply of 6,666,666,666 unique coins, 30 percent of those are being “sent straight to token hell” and will be gradually “burnt” starting 24 hours after release and continuing for three more days. In this context, “burnt” simply means “permanently taken out of circulation,” but, in homage to the ill-fated South Park character for whom the coin is named, it’s more fun to imagine a literal, Joan of Arc-esque stake burning of each individual $KENNY coin in a creative, construction paper-y fashion.
To be clear, $KENNY has no affiliation with South Park creators Trey Parker and Matt Stone, who have repeatedly slandered and skewered the volatile cryptocurrency community and the A-listers who appeared in high-budget commercials for since-disgraced crypto companies. It’s also, astoundingly, not the first South Park fan coin to hit the market this month — on July 14th, Mr. Hankey Coin ($HANKEY) sold out all of its stock in just 10 hours post-release and the price surged by 200 percent shortly thereafter.
Hopefully, these two coins don’t start a trend wherein crypto bros mine every South Park character for meme coin potential. Unfortunately, though, that outcome seems uncomfortably likely, even if both these coins fail as the Burn Kenny Coin creators predict. Just like Kenny himself, these crypto schemes have a habit of returning from the grave while the rest of the rubes forget that they ever died in the first place.