Netflix Inspires $MIRROR Token, Soars Then Stumbles

Netflix’s hit dystopian anthology series Black Mirror has inspired the launch of a cryptocurrency called the Black Mirror Experience (MIRROR). The token more than doubled in price within a day of its launch, but quickly entered a correction phase.

Analysts caution that, despite strong debut interest, risks remain from volatility and untested governance, with past failures such as the Squid Game token serving as reminders.

MIRROR Token Debut and Market Reaction

Black Mirror is a British dystopian anthology television series, streamed on Netflix, that explores the dark side of technology and society. Its latest season (Season 7) saw significant engagement, with 10.6 million views in its first week in April 2025.

Banijay Entertainment and Pixelynx launched the MIRROR token as the franchise’s official utility token. It debuted on September 8 across major exchanges, including Kraken, Gate.io, MEXC, and Binance Alpha. The MIRROR token opened at around $0.0459, surged to $0.0844 on September 9, and then retreated about 17% in the following 24 hours to $0.06408.

The project, built on the KOR protocol and backed by Avalanche, Solana, Republic Crypto, and Animoca Brands, combines entertainment IP with blockchain.

CoinMarketCap lists MIRROR’s market capitalization at $6.03 million and fully diluted valuation at $62.5 million. Supporters argue the token remains undervalued compared to its potential, with some projecting gains of up to 10,000%.

Could Netflix’s Entry Signal a Bold Challenge in Crypto?

At the center of the Black Mirror Experience is Iris, a virtual AI assistant inspired by the series’ storylines. Iris analyzes digital footprints to generate dynamic reputation scores, offering users insights, rewards, and even satirical commentary.

The MIRROR token allows holders to unlock premium AI coaching, participate in live streams, and influence community-driven “episodes.” The project has also launched airdrop campaigns, distributing 10% of tokens to early participants, with over 400,000 users reportedly registered.

Black Mirror’s official X account, with more than 235,000 followers, announced completion of the first token unlock phase. Prominent industry figures, including skateboard legend Tony Hawk via Coinbase’s Base Builder show, have also highlighted the token, bolstering credibility.

The team says the Black Mirror Experience is an officially licensed, on-chain franchise expansion. Holders can mint NFTs called “Personas” that evolve with user engagement and provide access to real-world assets and collaborations across IPs.

Overcoming the Squid Game Token’s Disgrace

This is not the first time a Netflix property has inspired crypto. In 2021, the Squid Game token skyrocketed from about $0.01 to nearly $2,861 per coin, briefly hitting a $180 million valuation before collapsing in a rug-pull scam.

The scam resurfaced during the release of Squid Game Season 2, reminding investors of the risks tied to entertainment-inspired tokens. 

However, their backers are positioning their project as credible and sustainable, pointing to established partners and community allocation of 58% of the supply.