Unleashing the Power of the Doge
The original Doge meme NFT is riding a wild wave these days, achieving a staggering valuation close to $220 million following a recent fractionalized token sale. Yes, you read that right! This isn’t just some overpriced latte; this is serious business in the digital art world!
Token Madness: How the Auction Times Are Changing
In a playful twist, PleasrDAO has fractionalized this beloved meme into an astonishing 17 billion ERC-20 tokens, named DOG tokens. Talk about a doggone lot! They auctioned off 20% of these tokens on SushiSwap’s Miso platform, and boy, did the buyers come barking. The auction pulled in a whopping 11,942 Wrapped Ethereum (approximately $44.6 million) with nearly 1,800 eager participants!
Trading Frenzy: Where Do DOG Tokens Go?
Once the virtual gavel fell, the DOG tokens quickly transformed into assets that can be pawed at on decentralized exchanges like SushiSwap and Uniswap. Currently priced around 0.0000035186 WETH ($0.013), this valuation still manages to fetch out some stunning returns—making you wonder if you should start saving all those dog memes!
Competing Valuations
Now, if you think $220 million is wild, hold onto your leashes! Some experts believe the implied value could be even higher, sitting at a jaw-dropping $398 million. How they calculated that, we’re not sure—possibly with a sprinkle of meme magic?
Return on Investment: The Original Purchase
This unprecedented rise in value comes from a mere picture sold for 1,696.9 Ether (around $4 million) just last June. Meme economics, folks! It’s inflation in its most adorable form!
Supporting the DOG Community
PleasrDAO isn’t just all about profits, though. They are planning to keep 55% of the remaining tokens and set aside 25% to support charitable causes within the DOG community, ensuring the meme brings joy beyond the screen. After all, more than just laughter comes from dogs!
Bringing in the Big Guns: Sotheby’s NFT Auction
Meanwhile, Sotheby’s has taken the NFT hype up a notch with a whopping auction of 107 Bored Ape Yacht Club NFTs. They’re expecting a haul between $12 million and $18 million. Cashing in on that Bored Ape fever, the bidding has already reached $4.5 million! And that’s not all—NBA superstar Stephen Curry himself strolled into the NFT garden and picked one up for 55 ETH, roughly $207,000! Talk about having deep pockets for digital treasures!
The Future of NFTs: A Peek Ahead
With such established names jumping into this digital treasure chest, we can only imagine what’s next! As we dive deeper into September, the secondary market is heating up, having captured $10 million in sales already. Who knew man’s best friend could lead us to such lucrative paths in the world of NFTs?
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