The original Doge moves onto Ethereum, selling for a seven-figure sum.
Bidding War for Doge NFT
A Doge NFT just sold for $4,074,765.97.
The token featured the original viral image of Kabosu, a Shiba Inu dog that rose to Internet stardom back in 2010. A photo of the dog famously became a viral meme known as “Doge,” eventually inspiring the Dogecoin cryptocurrency that’s dominated news headlines and Elon Musk’s Twitter feed this year.
Kabosu’s owner, who uploaded the popular photo to her blog more than a decade ago, was responsible for tokenizing the image. Many other meme creators have had similar success stories with turning their Internet-famous images into NFTs in recent months.
That’s because NFTs, otherwise known as non-fungible tokens, offer a way for creators to assign ownership of an asset, whether that’s memes, digital art, music, or just about anything else. They allow creators to sell their work directly to fans in exchange for cryptocurrencies (as most NFTs live on Ethereum, they’re generally paid for with ETH).
The Doge NFT went on sale on Zora with the tagline “the original image that started it all.” Bidding heated up in the closing minutes of the auction, with PleasrDAO, a group formed to acquire pplpleasr’s Uniswap V3 NFT, placing a bid of 690.42042042042042042 ETH. Another user called twodollahotdoge followed up with a higher bid, before PleasrDAO reciprocated, leading a bidding war to ensue.
The auction was extended several times until PleasrDAO won with a final bid of 1,696.9 ETH. At today’s prices, that comes to $4,074,765.97. The hype for NFTs has somewhat slumped along with the rest of the market in recent weeks, with weekly sales way down on this time last month. Nonetheless, the most sought-after pieces are clearly still commanding eye-watering price tags; only yesterday, an Alien Punk from the iconic CryptoPunks series sold for a record-breaking $11.75 million at Sotheby’s.
Following the Doge sale, PleasrDAO took to Twitter to post a video celebrating the auction win. “Stay tuned,” a message on the clip read.
Disclosure: At the time of writing, the author of this feature owned ETH, ETH2X-FLI, and several other cryptocurrencies.
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
Source: Read Full Article