Original $4M Doge NFT meme auctioned off in 17 B pieces
The original Doge Meme is set to be fractionalized into ERC-20 Tokens and auctioned off in pieces.
The owner of the Shibu Inu depicted in the beloved meme, Atsuko Sato sold the DOGE NFT for 1696.9 Ether or we can say $4 million on June 12 to an art-focused decentralized autonomous org. PleasrDAO.
PleasrDAO decided to expose to this NFT via a fractionalization that will see the nonfungible token to be broken down into 16,969,696,969 ERC-20 Tokens named $DOG. 20% of the total $DOG supply will be available for purchase initially with the sale will be host on the open-source smart contract platform Miso.
After the launch, $DOG will be available for trade on fractional.art, or via decentralized exchanges (DEXs) such as Uniswap and SushiSwap. The idea behind the $DOG tokens is based on their price increases as the original Doge NFT goes up in value.
They have decided that $DOG will be available for trading on the decentralized exchange like fractional. art and such as Uniswap and Sushiswap.
Users will also be able to vote on what they think the valuation of the Original NFT should be which is set to be re-auctioned at a date determined by the PleasrDAO community in the future.
“We will ensure The Doge NFT does not go up for auction until we feel $DOG has reached full meme escape velocity and is coupled with a strong, thriving community,” the blog post read.
“You better be careful that you’re not creating something that’s an investment product — that is a security.”
Doge is attracting top talent In other doge-related news, Japanese-American tennis star Naomi Osaka told Bloomberg on Aug. 31 that she was considering investing in crypto after her interest was piqued by DOGE.
Osaka’s agent suggested investing in crypto, but she said she had already started learning about crypto after seeing the abundance of hype surrounding DOGE that was flooding her social media feeds.