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Picture of a Shiba Inu dog breed, the dog for Doge

Feisty Doge Now Ranks As The Most Valuable NFT Ever

Best Owie
by Best Owie
3 years ago
·
Posted in NFT, Dogecoin
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Feisty Doge is an NFT that is doing things differently from other NFTs. Instead of selling the whole of the NFT at once, the project sells only fractions to different buyers. A recent influx into the project has seen the price of the NFT explode. The rate at which investors were buying fractions of the art saw the price move up a tremendous 721%.

Related Reading | Dogecoin Made Up 62% Of Robinhood’s Second Quarter Crypto Trading Revenue

The NFT is a picture of a Japanese Shiba Inu dog breed named Kabosu. The famed dog behind the infamous Dogecoin meme. This picture had first been auctioned off as an NFT to a collector. Selling for over $43K at the time of the auction. The new owner of the picture had announced recently that made the NFT into a fractionalized NFT. Which he called the NFT Doge.

Next Big Thing For Doge

Cryptopathic, the owner of the Feisty Doge NFT, created a token for the piece of art. The tokens would give holders the right to a piece of the NFT. Since NFTs like these can get quite pricey, this serves as a way for ordinary investors to own part of these rare NFTs.  Demand for the tokens rose through the roof after the tweet announcing the fractionalization went live.

I've created the next step in $DOGE tokens – an NFT DOGE, a fractionalized piece from the Zora auctions a few months ago. The 100bil tokens are backed by the NFT in the @fractional_art contract.

Trade on sushiswap: https://t.co/mEStrplmi3 pic.twitter.com/0Uslp5qEta

— path.eth 🛡️ (@Cryptopathic) August 19, 2021

The NFT Doge has a total supply of 100 billion tokens. And at its current price, the NFT is now worth over $70 million. Beating out Beeple’s Everydays: The First 5000 Days for the top spot as the most valuable NFT. Beeple’s NFT had sold at auction at Christie’s auction house for $69.3 million. Setting the record for the most valuable NFT at the time of the sale.

A Burgeoning Scam

Cryptopathic has been called out by several users who say the project is a scam. The creator is accused of removing liquidity from the NFD/ETH trading pairs. And has been accused of taking profits for himself. While early buyers will have seen a lot of profit, latecomers would bear the brunt of the loss following this.

Let's talk about the recent CT scam — $NFD (Feisty Doge NFT, $80m market cap), which did double-digit multiples to early buyers, but mostly, to its creator @Cryptopathic https://t.co/qppv20v7F0

— Shual (@0xShual) August 22, 2021

Related Reading | Ethereum Founder Vitalik Buterin Joins Dogecoin Foundation Board Of Advisors

Fractional NFTs are not a new concept. But this project has shown that there is merit to it. The interest in the project has been vast since the project launched. It shows the potential for high-value NFTs to be fractionalized and give average investors the chance to own a piece of art that they would otherwise be unable to buy.

Featured image from Mashable India, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Best Owie

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Best Owie is a Managing Editor at Bitcoinist with extensive experience and a proficient expert known for crafting captivating and insightful content. Best boasts over six years in the crypto sector, and has supervised the conception and publication of thousands of articles. Best is also a content and marketing strategist with the ability to make sure your content reaches the right audience and beyond. In every aspect, Best stands out as a consummate professional, always striving for unparalleled excellence both within and outside the workplace.

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