Fractions of the original 'Doge' NFT will soon be sold

Fractions of the original 'Doge' NFT will soon be sold

The original image of a Shiba Inu dog sparking the “Doge” meme will be auctioned off on the NFT fractionalization platform Fractional.Art.

The Doge NFT first sold for 1696.9 ETH — roughly $4 million — in June of this year. The owner of the original image Atsuko Sato, who also owns the Shiba Inu from the meme, had sold the meme’s ownership to the decentralized art collection platform PleasrDAO.

Starting Wednesday, anyone can buy a portion of the iconic meme through SushiSwap’s MISO platform after being fractionalized via Fractional.Art. Fractional.Art is a startup that breaks apart NFTs into smaller fragments and then converts those fragments into ERC-20 tokens that are much more affordable than the entire NFT.

The fractionalized Doge NFT token will be $DOG — which is not to be confused with $DOGE associated with the cryptocurrency dogecoin.

“Expanding the ownership of $DOG beyond the DAO and to the greater general public provides more inclusivity,” says Jamis Johnson of PleasrDAO. “An investment in the community wouldn’t be possible without the community itself, so we’re especially excited to give back by granting shared possession of Doge.”

Keeping up with the meme trend, there is currently 16,969,696,969 $DOG available for purchase, with a total reserve price set at 21,000,000 ETH or $71.5 billion -- a high figure likely set to avoid a total buyout.

Correction: This report has been amended to correct the timing of the auction as well as the total reserve price and the platform on which the sale will be held.

Source