- Doge meme NFT has been split into fragments for individuals interested to own
- The iconic art piece is available as ETH-based ERC-20 tokens under the ticker name of DOG
- PleasrDAO wrote that they have plans for a DOG development fund
DOGE meme NFT is one of the iconic internet memes. The meme’s Non-Fungible Token was sold to the NFT collective PleasrDAO in June 2021. At the time the crypto token was sold for 1,696 ETH coins. However, now the cryptocurrency is available in fragments for interested buyers globally. Indeed now the individuals can own a share of the iconic internet meme. Notably, the fact came possible with the help of the Fraction.art tool. Hence, from Wednesday, the DOGE meme NFT is available as ETH-based ERC-20 tokens under the ticker name of DOG.
Fraction.art tool help split the DOGE meme NFT
Fraction.art tool is used to split up the ownership of Non-Fungible Tokens. Hence, such a tool can easily provide a distributed ownership of an NFT. Simultaneously, the iconic DOGE meme cryptocurrency has been used and is now available in billions of pieces. The crypto is depicting a rescued Shiba Inu goog girl Kabosu, which is owned by a Japanese Kindergarten teacher.
Anyone interested can purchase the NFT piece as an Ethereum ERC-20 token. According to a blog post shared by PleasrDAO the initial auction of the DOG fractions is the first opportunity for individuals that own the iconic piece of art. The tokens are available on fractional.atr and other decentralized assets exchanges.
Why did PleasrDAO fractionalized the token?
While explaining the idea behind fractionalization of the DOGE meme NFT, PleasrDAO wrote that they have plans for a DOG development fund. The DOG aims to support the long term community. Additionally, the organization also promises that the group will remain the primary provider of liquidity on crypto assets exchanges. Indeed, such considerations have been taken to avoid declining price pressure on the newly minted NFTs.
Is the fragmentation similar to Mona Lisa’s portion distribution?
The art is quite similar as the Louvre decided to cleave the Mona Lisa and distribute a portion to the public. According to PleasrDAO, such collective ownership of art is only possible crypto art.
Furthermore following the announcement, the mem’s rise to internet fame was broken on Twitter by DOGE community members.Cryptunez has detailed the entire journey of the meme in a thread. Despite the new round of attention towards DOGE meme NFT, the cryptocurrency DOGE saw only minor moves in the market.