🐶 Owner of Dogwifhat Sells NFT of Iconic Dog Photo for $4.3 Million
The owner of Achi, the dog behind the popular Solana-based memecoin Dogwifhat, has sold the iconic photo of the dog wearing a hat as a non-fungible token (NFT) for $4.3 million. The three-day auction took place on the NFT marketplace Foundation, with Gigantic Rebirth Ventures making the winning bid.
The Auction and Winning Bid
- The NFT auction for the iconic photo of Achi wearing a hat went live on Friday on NFT marketplace Foundation.
- Gigantic Rebirth Ventures (@GCR) emerged as the winner, placing a bid of 1,210.8 ETH.
- The winning bid was equivalent to $4.3 million.
Partnership with Fiesty DAO
Last week, the purported owner of Achi announced on their Instagram account that the NFT auction was being conducted in partnership with Fiesty DAO. The dog, previously known as Chi-Chi, is now called Achi and resides in Korea. The owner revealed that they had made the pink hat worn by Achi in the famous photo taken in 2018.
Foundation’s Announcement
The partnerships manager at Foundation posted on X, stating that Achi’s owners captured him wearing the endearing hat in 2018. The image went viral and became a meme and mascot for the meme coin WIF. Gigantic Rebirth Ventures acquired the image on Foundation for 1,210.759 ETH ($4.3 million).
Dogwifhat’s Rise to Fame
Achi’s picture gained popularity as Dogwifhat, a memecoin, towards the end of last year. It quickly surged to a market capitalization of $3.2 billion and is now ranked 43rd among all cryptocurrencies. Dogwifhat is currently trading at $3.18.
Recent Surge in Value
Dogwifhat has experienced significant growth in value recently:
- Over the past 24 hours, Dogwifhat has gained more than 20%.
- Over the past month, Dogwifhat has seen an increase of nearly 700%.
🌟 Hot Take: Dogwifhat NFT Sale and Memecoin Mania
The sale of the iconic photo of Achi wearing a hat as an NFT for $4.3 million highlights the growing popularity and value of memecoins like Dogwifhat. Here are some key takeaways:
1. NFTs as Valuable Assets
The sale demonstrates that NFTs can have significant value in the crypto market. The unique nature of NFTs and their ability to represent ownership of digital assets make them attractive to collectors and investors.
2. Memecoins and Viral Trends
Memecoins like Dogwifhat have gained traction by capitalizing on viral trends and internet memes. The association with popular memes and social media buzz can drive up the value and demand for these coins.
3. Solana’s Metrics Surge
Solana, the blockchain platform on which Dogwifhat is based, has experienced a surge in metrics amid the memecoin mania. This demonstrates the potential of blockchain platforms to support and facilitate the growth of memecoins.
4. The Power of Community
The successful auction of the Dogwifhat NFT was made possible by the support and participation of the crypto community. Crypto holders raised over $650,000 to display the dog’s photo on the Las Vegas sphere, showing the community’s enthusiasm and dedication.
The sale of Achi’s iconic photo as an NFT for $4.3 million is a testament to the growing interest in memecoins and NFTs. As these digital assets continue to gain popularity, it will be interesting to see how they evolve and shape the future of the crypto market.
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