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Doubloons is the latest trend to do its rounds on TikTok, leaving many netizens baffled. While the trend gets its name from an eponymous cryptocurrency, they were originally used as a form of currency during the time of Spanish conquerors.
The cryptocurrency, which started trending in late 2022, can be collected and saved in a virtual bank and can be used to purchase certain products or services. According to Coin Market Cap, price-tracking websites for crypto assests, doubloons (stock symbol DBL) have a rate of $0.0004781 USD.
The trend, however, refers to a particular cat found on one's For You page on TikTok. The cat is said to take away one's imaginary "currency." TikTokers are uncertain if the cryptocurrency and the TikTok imaginary currency are related, leaving many bewildered. Here's what one had to say:
"I didn’t know you actually got them from a game": The doubloons trend explained
The TikTik trend is based on a famous cat meme featuring a black cat with its paw raised.
A TikTok user shared a video of this cat with the tag "4 doubloons," referring to the four claws seen on its paw. The video circulated so many times that after a while, every time a user saw this cat, they claimed to have gained four doubloons.
The TikTik trend went viral when users found another video featuring the cat with instructions. Depending on what the cat says, users either gain or lose their in-game imaginary currency.
Soon, videos with "shops" started popping up where users could trade this currency to buy or sell things as per the instructions in the videos. Some videos even allowed TikTokers to join pirate gangs and steal these imaginary coins.
It is to be noted that this is not an actual digital currency - its just a meme, and anyone can participate in the trend.
As the trend spread, many users also created their own videos (with or without cats) with a different set of instructions. This impacted the overall demand of the currency. Some videos gave users an "infinite currency," which led to an "inflation." This led to more chaos. Here's an example:
Still find it confusing? Think of it as a simplified version of role-playing games like D&D (Dungenos & Dragons).
While many took part in the trend, others were left confused. Some took to Twitter to react to it. Here are a few tweets about the same:
What are doubloons named after?
Doubloon is a Spanish gold coin that was used as currency in Spain and its colonies in the 17th century. The word itself is derived from the Spanish "Dobla," which means double, referring to the coins being worth twice that of "pistole," another kind of Spanish gold coin. Doubloons were banned in the United States by the 1960s, but were still used in other Spanish colonies.
These coins were made from solid gold, increasing its value, thus making it a popular pirate target. Today, these are considered very valuable due to their historic context, and are generally found in museums and private collections
The cryptocurrency takes its name from these coins.
