NFT meme Doge turned into equity, having achieved a capitalization of $577 million
Shiba Inu, named Kabosu, has long become an Internet star, having turned from “just another meme” into a Dogecoin mascot, which has formed a cult of memecoin worship. Previously, his photo was sold to PleasrDAO in June 2021 in the form of NFT for 1967 ETH (higher than $4 million at the time), but now everyone can become the owner of a share of this legendary non-fungible token!
Quickly realizing what treasure they had at their disposal, PleasrDAO, without hesitation, invited all DOGE fans to buy a share of NFT with a photo of Kabosu. The NFT was divided into 17 billion ERC-20 tokens named DOG. The amount of these tokens bought by an investor determines how much of NFT Doge he owns.
Surprisingly, as a result of this “crushing” of a whole non-fungible token, its value has skyrocketed. Considering that it was bought for $4 million, and the final proceeds from the auction surpassed 11,942 WETH, equivalent to $44.6 million, it is easy to calculate how profitable the idea of PleasrDAO turned out to be.
The auction was held at the Miso trading platform, and 1,796 people took part in it. Now you can get hold of tokens so valuable for meme lovers using DEX SushiSwap and Uniswap. According to PleasrDAO, 55% of DOG tokens will be used in DAO, and another 25% will be allocated to a fund that helps projects created by the DOG community.
Since yesterday, this “equity NFT” is up more than 60% and is now at $0.034, according to CoinMarketCap. At the same time, the market capitalization of the DOG token with a full emission will amount to an impressive $577.8 million dollars!
The NFT trend is gaining momentum. Hundreds of millions of dollars are invested in tokenized paintings, clips, videos, and any other art form imagined by creators. In the first quarter of 2021, the total sales of non-fungible tokens exceeded $1.5 billion. This means that the excitement around them will not subside soon, and such memes as Doge, which cost more than $577 million, are the best confirmation of this.