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Friday, September 17, 2021

Dogecoin meme NFT worth millions is up for fractional ownership: Here’s how you can buy it for $1

Doge meme NFT: You can now be a partial owner of the famous Shiba Inu meme that's behind the Dogecoin phenomena; Here's how.

By: Tech Desk | Mumbai |
Updated: September 9, 2021 2:16:42 pm
dogecoin, doge, doge meme, doge meme nft, doge nft,The Doge meme NFT is worth about $5.8 million in current pricing. (Image Source: Wikimedia Commons)

The ‘Doge’ meme is one of the most recognisable memes from early 2010. Even before it sparked what would be a popular cryptocurrency years later, the meme was winning hearts and smiles across the web. An NFT (non-fungible token) of the original photo of the famous Shiba Inu named Kabosu was sold for a record-breaking price of 1,696 ETH back in June, which in current pricing is the equivalent of about Rs 40 crore.

While that is a big sum of money for most people, those who want to be a part of the Dogecoin phenomena can now own a fraction of the original Doge NFT for as little as $1, or about Rs 73. This is being made possible by Fractional.art, an online platform that lets you buy fractions of NFTs, allowing you to become partial owners of “collectable NFTs you otherwise could not afford.”

The Doge meme was “fractionalised” by art collective PleasrDAO, which has currently split the meme’s NFT into 17 billion pieces of ERC-20 tokens, or in this case, something PleasrDAO refers to as DOG tokens.

dogecoin, doge, doge meme, doge meme nft, doge nft, The Doge meme was “fractionalised” by art collective PleasrDAO. (Image Source: Fractional.art)

“Talking numbers, there will initially be 20 per cent of total $DOG supply available in the auction. That is 3,393,939,393 $DOG of the total supply of 16,969,696,969. An additional 25 per cent of $DOG tokens have been allocated to $DOG community programs and continued development,” Jamis Johnson, Chief “Pleasing” Officer at PleasrDAO said in a blog post.

“For now, it’s very much as if the Louvre decided to fictionalise the Mona Lisa and distribute a portion of it for the public to own. However, unlike at the Louvre, collective ownership of art is really only possible using crypto art,” Johnson adds.

How to get a fraction of the Doge NFT?

Interested users can load up some Ethereum (ETH) on their cryptocurrency wallets like MetaMask or Rainbow and can head over to the SushiSwap app to convert their ETH to Wrapped ETH to make it compatible with the auction on Miso (miso.sushi.com).

Once your wallet is connected, you can head over to Marketplace > Live Sales from the left-hand side menu where you should find the $DOG sale.

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