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$4 million Doge NFT is selling for $1 per fractionalized piece

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TL;DR Breakdown

  • PleasrDAO has fractionalized the official Doge NFT, which previously sold for $4 million.
  • Dogecoin fans can now purchase the NFT in the form of tokens for less than a dollar. 

The official “Doge NFT,” which was bought for $4 million can now be owned as a fractionalized token for less than $1, according to a report on Wednesday by CNBC. This provides Dogecoin fans the opportunity to purchase a piece of the official Dogecoin meme NFT, without having to spend millions of dollars. 

PleasrDAO tokenizes the official Doge NFT

PleasrDAO is the company behind the official Doge NFT. They purchased the Dogecoin meme NFT, a portray of a Shiba Inu dog, for $4 million in the last three months. Today, PleasrDAO said it has collaborated with Fractional.art to sell fractional ownership of the NFT in the form of ERC-20 tokens.

The exact number of the token minted wasn’t specified; however, the Doge NFT is “represented by billions of ERC-20 tokens,” according to the report. Known as DOG, the tokens are reportedly selling for less than $1. The position of the holders will determine the percentage of their ownership in the Dogecoin NFT. 

The token holders will also participate in decision makings that concern the NFT.

Nearly $2 billion in NFT sales in August

NFTs have caught the most attention in the cryptocurrency space. On a daily basis, millions of dollars are being traded across different platforms. 

In August alone, about $1.96 billion in NFTs sales were recorded in August, from just a total of 596,574 sales, according to the market tracker, NonFungible. The highest content sold last month was from “Art Blocks” for about 1,800 ETH, which equates to over $5 million, followed by a CryptoPunks art for 1,600 ETH, which is about $4.5 million.

$4 million Doge NFT is selling for $1 per fractionalized piece 1
Ibiam Wayas

Ibiam Wayas

Ibiam is an optimistic crypto journalist. Five years from now, he sees himself establishing a unique crypto media outlet that will breach the gap between the crypto world and the general public. He loves to associate with like-minded individuals and collaborate with them on similar projects. He spends much of his time honing his writing and critical thinking skills.

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