The iconic doge meme has been sold off for a staggering price, making it the most expensive NFT to date. Find out how much it went for here!
Non-Fungible Tokens (NFTs) have become the hot new thing this year. Digital artworks have been sold off for dizzying prices, with understanding around ownership and, frankly, the point of it, remaining cloudy. Musician, Grimes became one of the first big names to sell their work, auctioning off images and videos for $6m.
Since then, Elon Musk has threatened to sell dodgy techno music as an NFT, and the crypto art has even taken on the form of real estate marketing.
If you were wondering about the ethical implications of NFTs, there is much debate. The ecological impact of mining cryptocurrency to purchase the digital art has been damningly reported. However, steps towards a greener crypto market have been made. Recently, Square announced it was to be involved in a solar-powered bitcoin mining endeavour.
Doge Meme NFT Sale
Kabosu is perhaps the most famous Shiba Inu dog in the world. The meme was sold on 11th June on the auction site Zora. @pleasrdao coughed up a bid of 1,696.9 of Ethereumcryptocurrency, which is the equivalent of $4 million.
The use of NFTs for good has potentially been strengthened, since Atsuko Sato, the owner of Kabosu and the person who sold the NFT, stated she intends to use the proceeds for a noble cause.
“Through the launch of these NFTs, I’d like to help children in need all over the world. Kabosu and I would be very happy if we could help bring a smile to their face.”
Although the doge meme has been around for a few years now, it’s experienced a resurgence thanks to dogecoin. The cryptocurrency was inspired by the meme, and has even been endorsed by crypto-fanatic, Elon Musk.
Doge meme is not the first meme to be sold as an NFT. “Overly Attached Girlfriend” and “Pepe the Frog” have been sold off for hundreds of thousands of dollars. We’re sure doge won’t be the last NFT meme, but it’s going to take some topping.