FX.co ★ Investment collective buys “Doge” meme as NFT

One of the world’s famous memes known as DOGE, representing the image of an excited-looking Shiba Inu dog called Kabosu, allows raising money for everyone who obtains it. The meme has a huge fan base and became the face of Dogecoin. It is one of the major cryptocurrencies ranked by its market cap. Nowadays, the meme is sold in the market too.

Notably, one can buy a part of the DOGE meme. Recently, a collective of DeFi leaders PleasrDAO bought a non-fungible DOGE token, or NFT, and started to sell its shares. The NFT consists of billions of tokens. Investors are able to buy a virtually unlimited number of tokens, which will determine their share of ownership in the NFT meme. However, the controlling shareholding belongs to PleasrDAO.

“It’s very much as if the Louvre decided to fractionalize the Mona Lisa and distribute a portion of it for the public to own. However, unlike at the Louvre, collective ownership of art is really only possible using crypto art,” Jamis Johnson, the chief pleasing officer of PleasrDAO, said. He also added that the token holders may vote for the future of the NFT. For example, its holders can vote before the NFT is sold.

In May 2021, Elon Musk said he cooperated with Dogecoin developers to improve system transaction efficiency. Musk also told the developers that his goal was “to make Dogecoin easy enough to use so that investors could use it to pay for a cup of coffee.”