Viral personality Haliey Welch has released her official token on the Solana blockchain, the latest in a long line of celebrity tokens floated on the network.
Welch went viral earlier this year after using a « hawk tuah » onomatopoeia to describe a sexual act. « Hawk Tuah » quickly became a phase used for memes across social platforms — making Welch an overnight sensation from a minimum wage worker who didn’t even have an Instagram account.
As often happens with memes, « hawk tuah » has found its way to the blockchain. Welch’s HAWK token went live on Solana-based exchanges at 22:00 UTC on Wednesday in partnership with overHere, a token launchpad.
Minutes after HAWK began trading, its market cap soared to $490 million — and then it dove.
Welch previously distributed free tokens to her social media followers and supporters within the meme and NFT communities during a campaign held from Nov. 26 to Dec. 2.
A statement shared with CoinDesk said Welch can’t sell the HAWK tokens she got for one year and they will vest over three years.
« Who doesn’t love a good meme? » Welch said in a prepared statement. « Becoming part of meme culture interested me in the world of crypto, and I’ve learned so much along the way. Launching my own token feels like the perfect next step — not just to create something meaningful for my fans but also to protect my community from scammers. »
HAWK is supported by a foundation in the Cayman Islands through complete legal compliance in the U.S. with hired directors on staff. It has raised money from a group of private non-U.S. investors at a $34.5 million initial valuation.
Celebrity tokens became a short-lived rage within the Solana ecosystem earlier this year, with several niche and forgotten media artists releasing their tokens using Pump.Fun during a frenzied period in May.
Most tokens ended up falling 99% in the days, or even hours, afterward.
But Welch’s team says it is in it for the long run, hoping to build a community around the token and her fans in a bid to make it a successful project in the long term.
« Launching the $HAWK token creates a fun, secure and innovative way for Haliey to get even closer to her community, » Jonnie Forster, Welch’s manager, said in a statement. « It not only empowers her fans but also eliminates the confusion posed by scammers who are constantly releasing unauthorized coins without approvals of her name and likeness. »