“Hawk tuah” girl Haliey Welch is still going strong. Welch went viral this summer for her raunchy catchphrase and has since parlayed that fame into a merchandise line and a podcast with guests like Mark Cuban. Now she has found a new way to express a phrase that cannot be explained in polite society: “memecoin” which is launching today on the Solana blockchain.
Memecoins are cryptocurrencies that, true to their name, go viral among online communities on platforms like Telegram and Discord, often based on fleeting moments like right mascot Peanut the squirrel. In many cases, buyers rush to buy the coins and the price skyrockets—sometimes reaching market values in the billions of dollars—until owners start selling before the value drops.
In an interview with WealthWelch insisted that her memecoin, called HAWK, “isn’t just a money grab,” but offered few details about how it could be used for more than speculation. In her signature Southern drawl, Welch said she explained that she wanted to change the public’s view of cryptocurrencies, though her manager, Jonnie Forster, hedged when asked about HAWK’s valuation and legal uncertainty. “We don’t want to run afoul of securities laws,” Forster said Wealth. “We’d say we’re almost, like, tokenizing, in a sense, Halie’s fan base.”
Hawking crypto
Unlike the more serious side of crypto, where it is liked BlackRock and Fidelity are helping bring Bitcoin to the world, HAWK will likely find its place in a corner of the industry dominated by so-called “degenerates”—short for degenerates, who enjoy memes, trolling, and get-rich-quick schemes.
The world of memecoins seems a fitting place for Welch, whose TikTok video describing oral sex garnered millions of views and catapulted her to sudden stardom. After her initial burst of fame, she remained in the news with acts such as throwing the first pitch at a New York Mets game and through her podcast, which debuted as the third most popular on Spotify. But when it comes to memecoins, Welch will want to be careful.
Celebrities have a long and disastrous history of hawking cryptocurrencies, with bigwigs like Kim Kardashian and Floyd Mayweather reaching settlements with the Securities and Exchange Commission for failing to disclose payments to promote the token. (On request from WealthWelch said she “didn’t know” the government was targeting celebrities.)
However, in his interview for WealthWelch said she is genuinely interested in using crypto and her memecoin as a way to connect with her fans. Her manager also made it clear that the HAWK token is different from other crypto celebrity involvements as they don’t tell people to buy it and instead give free tokens to social media followers and fans who have purchased her merchandise. Forster said Welch will own 10% of the offering but will not be able to sell for a year.
Welch began making appearances on the crypto scene shortly after her TikTok video, including at a Bitcoin conference in her home state of Tennessee and at Korea Blockchain Week—appearances that have left longtime owners of the digital asset scratching their heads. She said Wealth that other celebrities like rapper Lil Pump introduced her to crypto, and she got invited to the crypto-based martial arts league Karate Combat, which was frequented by influencers.
Welch says she thought cryptocurrency was “just a scam” and “an easy way to lose money,” but changed her mind after attending conferences. When asked what aspects of crypto appeal to her, she said it’s a “really good thing” and “a good way to interact with my fans.” Welch wasn’t aware of any special perks her memecoin owners would receive, though her manager added that they plan to have “more fan engagement around that,” without offering further details.
Memecoins have exploded in popularity as a form of social gambling, with Eddy Lazzarino, CEO of crypto at Andreessen Horowitz describing as “casinos” that “undermine the long-term vision of cryptocurrency,” though other investors praise them as a way to finance communities.
Welch and her manager claim memecoin HAWK isn’t about its valuation (although they’d probably get some inquiries from the SEC if they said otherwise). “I don’t see it as anything like gambling,” Welch said Wealth. “I think it’s, like, a fun way to encourage my fans to interact.”
