Hedgehog is the fast-growing memecoin with a purpose
This secretive south London-based operation wants to use cryptocurrency as a force for good, by democratising artist contracts and directing cash flow to local scenes via virtual galleries and NFTs.
Society
Words: Jade Wickes
Forget Bitcoin bros, Elon Musk and unintelligible jargon. Hedgehog (or $HHH), the latest token to arrive on the crypto-scene, is the very first of its kind. This is a community coin developed by an anonymous team of south London-based creatives, which seeks to carve out a space in art and fashion via cryptocurrency, collaboration and smart contracts – a bespoke, decentralised agreement that runs on blockchain, free from middle-men and potential dodgy dealings.
What is a community coin, you ask? As a term, it suggests that no elements of it can be altered and that all investors are equal.
“[Usually], most of these are meme-oriented, internet humour-based projects and many of them are scams,” one team member explains. “Hedgehog’s ethos is the antithesis of that. Instead, we aim to develop thoughtful functions surrounding blockchain and the arts, with a view to become the safest bet in the crypto-casino that is the Binance Smart Chain (BSC).”
With little financial or technical knowledge, the Hedgehog team decided to take advantage of last month’s crypto-boom with one objective in mind: stand out amongst a sea of emerging tokens vying for attention, by giving back to London’s creative community. Just three weeks after launch, $HHH accumulated over 3,600 holders and an all-time market cap of $1.7 million. In spite of the now-infamous cryptocurrency market crash, its cap currently sits comfortably at $100k.
Now that Hedgehog has been established as a legitimate token, it’s time for the operation’s ambitious smart contracts to come into play. “It’s all about democratisation, offering low-level contracts which could be served to musicians or art workers, and implemented by Spotify or other companies who aren’t as yet connected to the blockchain,” the team continues.
“For musicians right now, there are so many distribution fees and if they want to collect any type of reward, they can’t. Hedgehog provides an alternative.”
And there are other big plans, too. The Hedgehog team wants to start up a virtual gallery called Spike, as well as a DeLi – or decentralised library – that will enable holders to interact via real life or virtual events. $HHH could be used to purchase access to the gallery or even NFTs, which are currently being developed by rappers, producers and visual artists adjacent to the team.
“Some tokens have goals to take over governments and others simply donate to pet shelters, for example,” another team member adds. “We offer Hedgehogs as a means to enable exclusive access to cultural events.”
While all of this sounds hush-hush for the time being, Hedgehog is all about building momentum grass-roots style, to ensure the artists they collaborate with can get the most out of the experience. If you find yourself strolling around London this week, keep an eye out for Hedgehog’s guerrilla campaign posters designed by artist Orfeo T – and there’s plenty more where that came from.
