The hugely popular Doge meme launched in 2010. The meme shows a Shiba Inu Dog, known as Kabosu.
The Doge meme was the inspiration behind the creation of the cryptocurrency known as dogecoin. In June this year, the meme was purchased as an NFT, or non fungible token, for $4 million.
While some people may view this as an extravagant purchase, the Doge meme has a huge following on social media. Additionally, dogecoin is one of the top cryptocurrencies based on market value, and has received endorsement from popular figures such as Elon Musk and Mark Cuban.
People with Little Cash to Spare can now Own Doge
The good news is that PleasrDAO, the group that purchased the Doge meme NFT, will from Wednesday start selling fractional ownership of their asset.
The collective has “fractionalized” their NFT asset through a platform called fractional.art. This action has resulted in the Doge NFT being represented by billions of tokens called ERC-20. The tokens are the accepted standard for creating and making available smart contracts on the Ethereum blockchain. In this offer, the tokens will be known as DOG.
Investors have the freedom to buy whatever number of the Doge meme tokens on Fractional.com, and on Miso, a decentralized crypto exchange.
An investor’s ownership stake in the Doge meme NFT will be based on the number of tokens they acquire. However, the seller will still have the majority ownership.
Investors will have the power to be heard in any future decisions touching on the NFT. According to Jamis Johnson, an official at PleasrDAO, holders will, for example, have a vote should the collective decide to sell the NFT at a later date.
The NFT Market is Growing in Popularity
Investors have developed a huge interest in NFTs. This month, the biggest NFT market in the world, OpenSea, recorded over $2 billion in transactions. Some individual tokens were sold for millions of dollars.