April Fools: Teletubbies Cryptocurrency
The Claim
The TubbyCoin BigHugs! Token is a new cryptocurrency from the popular children’s show, Teletubbies.
News posted on
Emerging story
On April 1st, the Teletubbies’ official Twitter account announced the arrival of the TubbyCoin BigHugs! Token. Considering the Teletubbies’ non-cryptocurrency background, this came as a surprise to many Twitter users. As per Teletubbies’ request, most online discussions use the #TubbyCoin hashtag.
According to the Teletubbies, the currency uses “Hugtech” which makes it more valuable based on the number of Tweets that use #TubbyCoin. It was created by WildBrain Labs, a department of child-entertainment company WildBrain.
Misbar’s Analysis
Unfortunately, TubbyCoin BigHugs! aren’t real. WildBrain’s announcement of the currency explicitly states that it is an April Fools’ joke. Michael Riley, Chief Brands Officer of Wildbrain said, “I’d like to wish everyone a Happy April Fools’ Day! Although TubbyCoin is not really a cryptocurrency, our hope is that you’ll still enjoy sharing TubbyCoins with friends, family and anyone who needs a hug – all to bring some very real smiles to faces.”
Although it's a joke, the token does have an actual effect. While the token’s value doesn’t increase per Tweet, WildBrain says they’ll be making a $5,000 donation to Kids Help Phone and adding a dollar for each share or like up to $10,000. The Kids Help Phone is a charity based in Canada which acts as a free mental health hotline for children. They also offer counseling and referrals to mental health experts.
