Doge NFT Rides Into Fractional Ownership With $DOG Tokens
Fans of the original Doge meme that sold as a non-fungible token for about $4 million in June will have their chance to own a piece of the image that’s best known as the face of Dogecoin.
Practically everyone knows the picture of Kabosu, the Shiba Inu from Japan, with the somewhat goofy, somewhat knowing look on her face that was all over the internet in 2013, when Dogecoin launched as a joke cryptocurrency and adopted the image.
Now PleasrDAO, the owner of the NFT, is offering fractionalized ownership in the form of $DOG tokens that will be available for sale on Wednesday. Given the memetic characteristics, sub-$1 price and vocal fan base, the opportunity is likely to attract the attention of retail investors.
The process will work with Fractional.art first “fractionalizing” the NFT before it goes to a “batch auction” sale on Miso -- a decentralized-finance protocol -- which will then distribute $DOG tokens to participants. After that, Sushiswap -- a decentralized exchange -- will allow the tokens to be bought and sold separate from $DOGE, or Dogecoin.
PleasrDAO -- a collective of DeFi leaders, early NFT collectors and digital artists -- will retain majority ownership.
“Doge is unquestionably the king of all memes, and PleasrDAO could not be more excited to invite anyone in the world to own a piece of something so integral to the cultural history of the internet,” said Jamis Johnson, chief pleasing officer of PleasrDAO, in an email. “The future is bright for communities built around the shared possession of an idea and we believe fractionalized Doge, the Mona Lisa of the internet, will be a shining example of this odd new world we live in.”
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