In this way, Doji joins many of the memes whose creators have benefited from its fame through sales of NFT tokens.
Some may see, that this is a lot of money to pay to own a jpeg image, but the ‘Doge’ memes have created a massive online community, and dogecoin is now one of the best cryptocurrencies by market cap, with huge backers including Elon Musk and Mark Cuban.
Although most investors can’t afford a multi-million dollar purchase of the Doge meme as an NFT, anyone will now have a chance to own a piece of it for less than a dollar.
That’s because PleasrDAO, the group that bought the Doji meme’s NFT, will sell partial ownership of it, starting Wednesday.
Through a platform called Fractional.art, PleasrDAO has “hashed” the NFT – as a result, the NFT is represented by billions of ERC-20 tokens, under the name DOG.
Investors can then buy as many or as few DOG tokens as they can on Fractional.art and also conduct decentralized exchanges. How many tokens an investor buys will determine their stake in the Doji-NFT meme, even though PleasrDAO will retain majority ownership.
DOG holders will also be able to participate in future NFT decisions. For example, DOG holders will vote before selling an NFT in the future, PleasrDAO Chief Officer James Johnson wrote in a blog.
“It’s as if the Louvre decided to break up the Mona Lisa and distribute a portion of it to the public to own. However, unlike the Louvre, collective ownership of art is really only possible using cryptography,” he added.
“In this digital world, NFTs can capture important moments, phenomena, and concepts while the smart owner can hash them and distribute them to the audience.”
It is reported that PleasrDAO bought this meme through its dealings in the cryptocurrency Ethereum, paying 1,696.9 dollars, equivalent to 4 million dollars.
Notably, NFT sales help some online content creators earn huge money.
This month alone, OpenSea, the world’s largest NFT marketplace, saw revenue of more than $2 billion.