MIRROR Crypto: Innovation or Another Squid Game?
Netflix’s Black Mirror franchise has made a bold entry into the blockchain space with the launch of its official utility token, MIRROR. Released on September 8, 2025, by Banijay Entertainment and Pixelynx, the token is part of a broader project titled the Black Mirror Experience.
The MIRROR token opened at $0.0459 and quickly surged to $0.0844 on September 9. However, within 24 hours, it dropped roughly 17% to $0.06408. Despite early momentum, analysts remain cautious, citing concerns over market volatility and governance risks.
“Despite strong debut interest, risks remain from volatility and untested governance, with past failures such as the Squid Game token serving as reminders,” analysts noted.
The token is built on the KOR protocol and backed by notable players like Avalanche, Solana, Republic Crypto, and Animoca Brands. According to CoinMarketCap, it currently holds a market cap of $6.03 million with a fully diluted valuation of $62.5 million.
Entertainment Meets Blockchain
At the center of the project is Iris, a virtual AI assistant inspired by Black Mirror’s themes. Iris tracks user behavior to generate satirical digital reputation scores, offering token holders access to premium AI coaching, live streams, and community-driven “episodes.”
Users can also mint evolving NFTs called Personas, tied to real-world assets and cross-IP collaborations. Over 400,000 users have reportedly joined the project, and 10% of the total token supply has been distributed via airdrops.
Learning from the Past
The MIRROR launch follows memories of the infamous Squid Game token rug pull in 2021. While that token was unaffiliated with Netflix, it left a lasting mark on entertainment-themed crypto.
The MIRROR team emphasizes this is an officially licensed initiative, aiming to blend storytelling, blockchain, and community engagement with care.
