An NFT (non-fungible token) of “Doge,” the ubiquitous, cheerful image of Shiba Inu who has been one of the internet’s most famous memes, made history after being sold for over 4 million dollars and became the most expensive NFT meme to date.
A bidder named @pleasrdao claimed the NFT with a final bid of 1,696.9 Ethereum, a cryptocurrency valued at around $ 4 million, according to the auction site Doge.
To strangers, an NFT looks a lot like a one-of-a-kind collectible card. They are typically stored on the Ethereum blockchain, which is essentially a digital ledger for cryptocurrency, and are rated based on their rarity.
Doge, the meme this NFT was based on, was born as an amalgamation of two things. For starters, the word “doge” is colloquially used online as a reference to any dog. The image of the dog we know as Doge comes from teacher Atsuko Sato, who posted photos of her rescue dog Shiba Inu (whose real name is Kabosu) online in 2010.
These photos have been around the internet, with Reddit labeling this specific Shiba Inu as “Doge.”
Fast forward to 2021 – Doge is now also associated with Dogecoin, a popular cryptocurrency bearing the meme’s mark, and Sato took possession of his own dog’s meme by auctioning it off as an NFT this week. According to NBC News, “a portion of the proceeds from the sale of NFT will go to several charities, including the Japanese Red Cross and the World Food Program.”
Memes NFTs have become very popular in recent weeks, with popular ones like “Disaster Girl” and “Overly Attached Girlfriend” selling for 180 Ethereum (over $ 450,000) and 200 Ethereum (over $ 410,000) respectively. There are even entire companies dedicated to typing, marketing, and distributing NFTs made from memes. One of them, Net Gems, is currently trying to auction NFTs of “Numa Numa”, “Two Pretty Best Friends” and “Honey Badger Don’t Care”.
Calling all HuffPost superfans!
Sign up to become a founding member and help shape the next chapter of HuffPost