In Brief:
- PleasrDAO is all set to fractionalize the Doge meme NFT into ERC-20 Tokens.
- The Dogecoin NFT was sold in June for $4 million.
PleasrDAO is all set to fractionalize the Doge Meme NFT into 17B ERC-20 Tokens. The firm will later auction off these slices of the NFT. The initial auction will take place on September 1st, at 1pm EST.
Atsuko Sato, the owner of the famous Shiba Inu, sold the Doge NFT for 1696.9 Ether on June 12 to PleasrDAO.
According to the blogpost, Fractional.Art will fractionalize the NFT into billions of ERC-20 tokens named “$DOG”. The tokens will be available for purchase on Sushiswap’s MISO. 20% of the total $DOG supply will be available for purchase initially. Another 25% of these tokens will be allocated to the $DOG community for programs and continued development.
Holders of $DOG will even be able to vote on what they think the valuation of the original NFT should be. PleasrDAO will re-auction the NFT at a date decided by the community in the future. The NFT owners will also get access to an exclusive set of activities.
Also Read: Simone Biles to Release NFT Collection with Autograph
“We will ensure The Doge NFT does not go up for auction until we feel $DOG has reached full meme escape velocity and is coupled with a strong, thriving community,” the blog post read.
There are currently 16,969,696,969 $DOG available for purchase. The total reserve price was set at 21,000,000 ETH or $71.5 billion.
