Behold, meme enthusiasts: PleasrDAO, the owner of the Doge meme NFT, is putting fractions of the legendary non-fungible token up for sale. Collectors can make their purchase in the form of $DOG tokens fractionalized by NFT platform Fractional.art starting Wednesday.
Doge meme shakes the NFT market (again)
This summer, the famous Doge meme became an NFT, which was launched in June.
PleasrDAO, a group of DeFi leaders, artists and NFT collectors, was quick to purchase the non-fungible token for $4 million. Only several months later, though, the owners have decided to release fractions of the NFT ownership as $DOG tokens.
Fractional.art, a platform dedicated to NFT fraction trading, is going to fractionalize the legendary NFT. Then, collectors can purchase as many $DOG tokens as they wish via the decentralized exchange platform Sushiswap.
In addition, participants can also attend the batch auction sale held on DeFi protocol Miso.
PleasrDAO will remain the main owners of the Doge meme NFT, as the group will still hold the majority ownership. However, PleasrDAO chief pleasing officer Jamis Johnson enjoys the idea of sharing NFTs. In fact, he has even nicknamed the Doge the Mona Lisa of the internet in a recent statement:
“The future is bright for communities built around the shared possession of an idea and we believe fractionalized Doge, the Mona Lisa of the internet, will be a shining example of this odd new world we live in.”
Asset fractionalization, a growing trend
Many other institutions and companies have embraced the concept of fractionalization this year. In fact, the CEO of Maker DAO Rune Christensen has even confirmed that DeFi is focusing on tokenizing physical assets more than ever before.
This progress opens new doors for the NFT market as well, as more non-fungible tokens will stand for real-life assets.
One of the most recent examples comes from WiV’s Bored Wine Company. Each piece of this exquisite NFT collection is linked to actual bottles of fine wine with personalized labels featuring BAYC.
Doge, a record-breaking meme
The Doge meme was born in 2010 when Atsuko Sato posted a hilarious photo of Kabosu, her Shiba Inu puppy, online. At the time, few people had seen the photograph, let alone use it to create memes.
Three years later, meme creators started using the photo for their own versions of the Doge meme.
However, even when the Doge meme became viral in early 2013, little did its creators know about its future influence in the digital world. Fast-forward to December, software developers Jackson Palmer and Billy Markus launched Dogecoin, an ironic alternative to Bitcoin.
The digital asset is still ranking in the top ten global cryptocurrency charts after breaking many records in recent years.