In Brief:
- $45.1 million worth of tokens of the Dogecoin NFT were bought in the auction.
- Post-auction, the collection’s value rose to $302 million.
The fractional shares of the doge meme NFT are now valued at more than $225 million, making it one of the highest valued NFTs. The ownership was sold for over 11,000 ether.
Earlier this week, PleasrDAO split up the original Doge NFT into 16,969,696,969 tokens using Fractional.art. Out of these tokens, PleasrDAO auctioned off 20% of these tokens on MISO. The auction raised 11,942 WETH i.e. around $45 million from 1,796 buyers.
The remaining 3.3 billion tokens are on decentralized exchanges SushiSwap and Uniswap for sale. At its current price, the entire NFT is now worth $302 million. The price of a $DOG token on MISO is now 0.0000035186 WETH (0.013 USD).
NFTs have been a hot craze lately. NFT “fractionalization” has become a popular method to allow individuals to buy into expensive NFTs. Although critics have questioned potential risks around this NFT innovation.
