• PleasrDAO’s fractional DOG NFT now worth $336 million

  • Earlier this week, the Mona Lisa of the Internet was assigned to the people of PleasrDAO, an investment and art acquisition group that chunked the NFT of the original Doge meme and sold it on fractional.art.

    Chunking involves cutting up assets into smaller pieces. Chunking NFTs turns a single unforgeable token into many forgeable cryptocurrency tokens. This allows many people to own shares of a single NFT.

    PleasrDAO purchased the original Doge NFT for $4 million in June. on September 2, it split the NFT into 16,969,696,969 replaceable DOG tokens.

    The entire NFT is now worth $336 million, with individual tokens selling for $0.019. Fractional NFT has a circulating supply of $82 million; 55% of the tokens are held by the original buyer, PleasrDAO, while the rest have yet to be purchased at SushiSwap and Uniswap.

    NFT’s fully diluted market cap is up from $330 million on Sept. 2, but down from a peak of $550 million on Sept. 3.

    Since the launch, DOG investors and PleasrDAO members have created three spin-offs to keep the project on fire.

    The first is Dog Park, a Discord server organized by PleasrDAO members and accessible only to DOG owners.

    The second is Doggos, a NFT project for DOG holders released on September 3. Doggos was produced by PleasrDAO member Matt Condon as a spin-off of Dom Hofmann’s Loot project, a series of 8,000 randomly generated treasure NFTs for a yet-to-be-created RPG.

    Say hello to Doggos (for $DOG owners), a delightful @loot project expansion from @1ofthemanymatts that allows you to adopt a dog for just the cost of a $DOG if you have any in your wallet.

    Anyone with a wallet containing DOGs can claim Doggos. their only price is the gas it takes to cast them. (To do this, click here, connect your wallet and click “adopt.”) Doggos currently have a very low floor price of 0.04 ETH, but the highest price spikes to 777 ETH. no one has bought them yet.

    And finally PleasrDAO’s own NFT: DOG OG member poap NFT, available only to those who buy DOG on Miso (SushiSwap’s NFT exchange).Poap is an NFT minted on the low-cost and energy-efficient xDai sidechain.They show attendance at the event.

    As Doge is a key force in internet culture, the future value of DOG will serve as a case study in the NFT differentiation of what people hold dear.

    What's your reaction?
    Happy0
    Lol0
    Wow0
    Wtf0
    Sad0
    Angry0
    Rip0