Dogecoin creator issues DOGE NFTs—most expensive one listed at 69.42 ETH
The Dogecoin community has long dreamed of issuing their own crypto-tokens, and their latest idea is an NFT (non-fungible token) called “DOGE” that can be used as a payment method for any goods or services on the Dogecoin network. The DOGE NFT is unique in that it is both fungible and non-fungible at the same time. This means you can use it to trade for any other DOGE, and you can also use it to buy things that are not themselves DOGE, like a cup of coffee.
It’s been a year since the Dogecoin community started issuing their own crypto tokens for use within the Dogecoin ecosystem. Best known for their use in tipping, the Dogecoin community has quickly grown into a full-blown ecosystem. This September they opened their own digital asset exchange (DEX)—called the Shiba Exchange—to facilitate the trading of Dogecoins, Dogecoin-based crypto tokens, and other digital currencies.
On the heels of a successful crowdfunding campaign, Dogecoin creator Jackson Palmer has issued his own NFTs in the form of DOGE-based tokens. Palmer also announced on social media that the most expensive one listed at 69.42 ETH.. Read more about dogecoin news and let us know what you think.
Dogecoin co-designer Billy Marcus is moving into the world of non-payment tokens with his DOGE-inspired NFT line. Dogecoin remains one of the most controversial projects in the crypto-currency space, and combined with the polarizing effect of NFT, it’s a recipe for controversy.
dogecoin continues to share opinions
Despite criticism of its weak fundamentals, including its unlimited supply and uncertain usage scenario, many believe Dogecoin lacks something that other projects do: an entertainment factor. Recently, as part of the WallStreetBets movement, it has become a symbol of the power of the people. So much so that the bad guy of cryptos, Elon Musk, called it the cryptocurrency of the people, and the name caught on. However, Galaxy Digital CEO Mike Novogratz said that Dogecoin will eventually disappear. His argument boils down to the lack of interest from institutions and the fickleness of individual investors. It probably has no long-term prospects, as no institution will buy it and the retail sector will eventually lose interest, he said. At the same time, Novogratz, in explaining the unrealistic performance of the price so far, praised the spirit of Dogecoin, which he described as a movement against an old, exclusive and elitist financial system. It’s a bit of a middle finger to the system. People are unhappy with the current financial system. They just are, he added. Marcus supports this message by saying that his intention with Dogecoin is to promote joy, kindness, empathy, fun and community.
DOGE NFTs in series
Like cryptocurrencies, NFTs are the subject of intense debate. While applications such as asset tokenization and ticketing are practical, real-world applications, the excessive price of NFT artifacts is a barrier to adoption. Litecoin founder Charlie Lee drew parallels between ICOs and NFTs, suggesting that the sector is driven by hype and FOMO, with little support for pricing. At the height of the NFT hype, Lee downplayed the value proposition made earlier that year, claiming that reproducing an existing part costs nothing and requires little effort. This is not the case with the physical arts. NFTs, on the other hand, create artificial scarcity. Since the cost to make a new NFT is almost zero, the market will eventually be flooded with NFTs made by artists trying to make money from the hobby. Supply will outstrip demand and prices will eventually collapse. This criticism did not stop Marcus from developing his own line of NFT DOGE. When organizing the collection, Marcus decided to sell the first layer, 420 available, and the second layer, 3 available, on the Rariable platform. While Level 3 NFTs, of which only one is available, are sold by the fund. Dogecoin with captcha – lots of captcha, very high deflation, lots of tokenomics. There are several available! – Level 1 available on Rariable, 420 released: https://t.co/00wSCeciCB – Level 2 also available on Rariable, 3 released (already sold out) – Level 3 auctioned on @withFND, only 1: https://t.co/1LiijfSvCy pic.twitter.com/JprzxPoaeO – Shibetoshi Nakamoto (@BillyM2k) 8. June 2021 The most expensive Tier 1 NFT is Wiggly Billy Markus Doge, which remains unsold at the time of writing with a reserve price of ETH 69.42 ($176.7k). However, other Tier 1 cryptocurrencies were sold at prices ranging from ETH 0.385 ($980) to ETH 25 ($64,000). Image: A rarity. Explaining the Capped Dogecoin in his tweet, Marcus said it refers to some NFT Doges wearing caps. This is not an attempt to limit the supply of Dogecoin coins.
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The Dogecoin creator, Jackson Palmer, has just announced that he is going to release an Autonomous Non-Fungible Token (or NFT) to the world—an asset that is completely unique and can only be traded or exchanged for other NFTs according to its defined properties. The software used to generate the NFT is called Remix, and it’s available for anyone to download and use.. Read more about elon musk nft and let us know what you think.
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