Doge, the classic meme behind Dogecoin, will be sold at auction next Thursday as a non-fungible token (NFT)
Doge, the classic meme behind the Dogecoin (DOGE) cryptocurrency, will be sold in an auction Thursday as a non-fungible token (NFT), NBC News announced Monday.
The auction will be hosted by NFT auction site Zora and will be curated and certified by Know Your Meme, an internet meme database, based on the information provided.
NBC News reports that Don Caldwell, the editor-in-chief of Know Your Meme, noted that the database has confirmed that Japanese kindergarten teacher Atsuko Sato herself will be auctioning off pictures of the Shiba Inu Kabosu in the original meme.
Proceeds from the sale will reportedly go to charity.
Cryptocurrency publication Decrypt said the Dog NFT is not considered copyright, but is more akin to a meme creator’s digital signature.
because it matters
Doge is an internet meme that became popular in 2013. This usually consists of an image of a Shiba Inu dog with colored text in Comic Sans font in the foreground.
A meme based on a photo of Kabosu in 2010 became popular in late 2013. Dogecoin, a Doge-based cryptocurrency that was basically created as a joke in 2013, has taken off this year, in part by supporting Elon Musk, CEO of Tesla Inc.
NFTs are blockchain-based tokens of collectibles or artworks that allow users to own digital assets such as retail properties, artwork, digital sneakers, and video-recorded moments. NFTs also give artists more control over their assets and allow them to set selling prices.
Some NFT artworks have high ratings. For example, Beeple’s NFT-based digital artwork “First 5,000 Days” sold for $69 million at an auction last March.
In the same month, the online meme “Grumpy Cat” sold for over $80,000 in NFT transactions, while sneaker tokens sold for $3.1 million.
The Dogecoin is down 10.2% in the past 24 hours and was last trading at $0.3341.