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September 1, 2021 03:29 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/yxyIOQ3HZ5Q/the-original-doge-meme-sold-as-an-nft-for-4-million
The Original 'Doge' Meme Sold as an NFT for $4 Million
The legendary "Doge" meme from 2010, which portrays a shiba inu dog named Kabosu and inspired the creation of cryptocurrency dogecoin, sold for $4 million as an NFT, or non-fungible token, in June. From a report: To some, that may seem like a lot of money to pay to own a jpeg, but the "Doge" meme has generated a massive online community, and dogecoin is now a top cryptocurrency by market value, with fans including Elon Musk and Mark Cuban. Though most investors couldn't afford a multimillion-dollar price tag for the "Doge" meme NFT, anyone will now have an opportunity to own a piece of it for as little as less than $1. That's because PleasrDAO, the collective that bought the "Doge" meme NFT, is selling fractional ownership of it, starting on Wednesday. Here's how it works. Through a platform called Fractional.art, PleasrDAO has "fractionalized" the NFT -- as a result, the NFT is represented by billions of ERC-20 tokens, which are standard for creating and issuing smart contracts on the Ethereum blockchain. In this case, PleasrDAO has called the tokens DOG. Investors can then buy as many or as few DOG tokens as they can afford on Fractional.art and on decentralized exchange Miso. How many tokens an investor buys will determine their ownership stake in the "Doge" meme NFT, though PleasrDAO will retain majority ownership.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/yxyIOQ3HZ5Q/the-original-doge-meme-sold-as-an-nft-for-4-million
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