- The DOGE NFT meme is now to be actioned in 17 billion pieces.
- Holders of the ERC-20 tokens will be able to decide on when to re-auction the original NFT.
The original DOGE non-fungible token (NFT) meme is about to be divided into several parts and auctioned in pieces. The DOGE NFT meme was sold for $4 million or 1696.9 Ether on the 12th of June. At the time of the sale, Atsuko Sato, the owner of the Shiba Inu of the meme, sold the NFT off to PleasrDAO. PleasrDAO is an experimental art collective and decentralized autonomous organization.
Original DOGE NFT meme now divided into 17 billion pieces
Now, the decentralized organization is planning to offer the DOGE NFT, fractionalized into 16,969,696,969 ERC-20 tokens. Named $DOG, the NFT tokens will be available from the 1st of September at 1 pm EST. In a recent blog post, PleasrDAO talked about the DOGE NFT meme and its plan to offer exposure through fractionalization. The blog stated:
Today, PleasrDAO is announcing that the NFT has been fractionalized into billions of pieces to be shared with the broader internet community. Using fractional.art, the original Doge NFT has been divided into billions of $DOG ERC-20 tokens, allowing everyone and everything, including also cats, to own a piece of history.
Following the initial auction on the 1st, the $DOG fractions will then be available for exchange on fractional. Art or through sushi.com or uniswap.org. Only 20 percent of the fractionalized NFT meme will be available at first. This represents 3,393,939,393 $DOG of the total supply. Separately, an additional 25 percent of the total supply of 16,969,696,969 is allocated to $DOG community programs and continued development.
Furthermore, PleasrDAO summarized that its goal is to assist the DOGE NFT meme in reaching its full potential. The autonomous organization revealed its plans for a $DOG development fun for projects focused on supporting the long-term community. PleasrDAO said it would be the primary provider of liquidity on exchanges.
Original Dogecoin NFT to be re-auctioned
As a holder of at least a fraction of the NFT meme, such a person will have a say in deciding the valuation of the original NFT. Notably, the original DOGE NFT will be re-auctioned at a later date that members of the PleasrDAO community would determine.
The bog further stated:
PleasrDAO has discussed many mechanisms for getting all $DOG into the hands of the community without resulting in downward price pressure. 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.
In another recent news, professional tennis star Naomi Osaka revealed that the constant news on DOGE had spurred her interest in cryptocurrency. Currently trading at $0.2793, DOGE has gained over 1 percent in the last 24 hours. Also, the token has increased 17.37 percent in its 24-hour trading volume.
