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Iconic ‘Doge’ meme NFT breaks record, selling for $4 million

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“Doge,” the image of an excited-looking Shiba Inu who is considered one of the internet’s most iconic and well-known memes, sold for $ 4 million as a non-fungible token, or NFT, making it the most expensive meme NFT ever.

On Friday, the auction winner @pleasrdao made a willing bid of 1,696.9 of the cryptocurrency Ethereum worth about 4 million US dollars, according to the auction site Zora.

“We’re so happy to be part of this milestone in Internet history. If any meme deserves to be the new meme NFT record holder, it’s Doge,” said Don Caldwell, editor-in-chief of Know, the Internet meme database Your Meme, which Doge certified before the auction to ensure that the meme was sold by its rightful owner.

Caldwell added that Doge, whom he described as “one of the most iconic memes in internet history,” had previously won the Know Your Meme Meme of the Decade award in December 2019.

The meme was first auctioned off Tuesday by Atsuko Sato, the owner of Kabosu, the dog in the picture, and ran about three days before it was sold to @pleasrdao.

At Zora, where Doge was auctioned, a bidding war over the meme broke out on Friday afternoon between users @twodollahotdoge and @pleasrdao, which drove up the price until @pleasrdao won the bid.

The term “doge” comes from the Flash cartoon “Homestar Runner”. In an episode from 2005, the title character Homestar calls another character his “DOGE”. Five years later, in 2010, Sato posted the picture of Kabosu on her personal blog without realizing that the photo would develop a life of its own.

“I took the photos to update my blog,” Sato said in a statement. “I take a lot of pictures every day, so this day was nothing out of the ordinary. Kabosu loves to have her picture taken, so she was delighted that the camera was pointed at her. “

The photo made the rounds of sites like Tumblr and Reddit in the early 2010s, and when a Reddit user referred to the picture of Kabosu as “Doge,” the name stuck and the meme was born.

“When I first found out about the Kabosu memes, I was very surprised. I was scared at the thought that just one photo I’d casually posted on my blog could be spread all over the world in places I didn’t know, ”said Sato.

The meme is usually formatted with the picture of Kabosu, her paws crossed and a slight grin on her face, surrounded by broken English phrases like “Wow. So scared” and “What are you doing?”

Doge’s popularity has picked up again recently due to Dogecoin, the cryptocurrency branded after the meme. Although Dogecoin has been around for several years, it gained popularity after Tesla CEO Elon Musk endorsed it on social media this year.

A portion of the proceeds from the sale of the NFT will go to various charities, including the Japanese Red Cross Society and the World Food Program.

NFTs are a kind of certificate of authenticity. The NFT is a string of unique characters. The characters are connected to a blockchain, a group of computers that act as a digital ledger that no computer can change. The same concept powers cryptocurrencies like Bitcoin, but while Bitcoins are essentially the same, NFTs are not fungible or unique.

However, a Doge NFT would not act as copyright law, according to Decrypt, a website that covers cryptocurrencies. The NFT is more like a digital autograph of the meme creator, reported Decrypt, which certifies the authenticity – similar to a signed baseball card.

Recently, there has been an influx of memes being sold as NFTs in what some experts refer to as the “meme gold rush”.

Other memes that compete Doge are “Disaster Girl”, which was sold for 180 Ethereum, worth about $ 430,000 at the time of sale, and “Overly Attached Girlfriend”, which was sold for 200 Ethereum, worth about then $ 482,000 auction site foundation. A Pepe the Frog NFT sold for around $ 1 million, according to The Washington Post.

Seven more pictures of Kabosu, certified by Know Your Meme, will be sold as NFTs and will be auctioned starting Friday.

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1 in every 10 Irish investors hold cryptocurrency: Competition and Consumer Protection Commission survey

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The Irish Competition and Consumer Protection Commission (CCPC) poll, published on September 16, revealed important facets of investment trends among the masses. CCPC is the legal body for promoting compliance and enforcement of consumer competition and protection laws in Ireland.
The survey came to the following results:
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  • Information medium:
    • 62 percent of the 1,000 people surveyed used the Internet to obtain information about investments. The resources used by these people include online banking or investment websites, financial news websites, blogs, and social media platforms.
    • 38 percent sought advice from a bank or a financial advisor.

  • Investment form:
    • More than half, 56 percent of investors, prefer online investments.
    • Online investment options are more popular among those under 35.
      • In the under 35 age group, 36 percent preferred to use a trading platform or a mobile app such as XTB or Etoro
      • 29 percent of this age group use an online financial service provider like Revoult.
      • 22 percent of them preferred to invest through a bank or investment company.
      • 10 percent preferred brokers or agents.
  • Popular investment options:
    • For 1 in 5 people, stocks are the most popular investment option.
    • The second most popular investment option is government or corporate bonds, which are preferred by 12 percent of Irish investors.
    • 11 percent of investors held digital assets and a quarter of young Irish citizens speculated in cryptocurrencies.
      • The survey shows that more than 1 in 10 Irish investors have invested in one or more crypto assets.
      • Cryptocurrency investors in the 25 to 34 age bracket have grown to 25 percent. This group of investors is most open to savings in bitcoins or other digital coins.
  • Investment motivation:
    • 79 percent invested in order to achieve better returns for their money in the long term
    • 46 percent invested due to the current low interest rates.
      • In this 46 percent, 51 percent men invested more than 38 percent women because of low interest rates.
    • 26 percent invested in personal satisfaction
      • 47 percent of them were under 35 who invested in experiments.

Based on the results of the survey, Gráinne Griffin, Director of Communications at CCPC, concluded that Irish citizens switch online both when it comes to investing and looking for information about investing. The survey clearly indicates a transition to digitized investment, especially among the younger Irish population, Griffin said.
For the latest crypto news, investment tips, and real-time price updates, follow our Cryptocurrency page.

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Cryptocurrency: Here’s How the Top 5 Coins Have Performed Since April 2021

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Cryptocurrencies have got off to a slow start this year, largely due to an order from the Reserve Bank of India (RBI) to banks telling them not to trade crypto. Cryptocurrency trading accelerated after the Supreme Court lifted the RBI ban in March and allowed coins such as Bitcoin, Ethereum, Dogecoin, and others to be traded. Since then, several online exchanges such as CoinSwitch Kuber and CoinDCX have flourished. But investing in these virtual assets requires due diligence given the extreme volatility of most cryptocurrencies. One way to do this is to look at the historical dates of these coins.

How cryptocurrencies have behaved in the past few weeks and months can give an idea of ​​their potential in the near future and whether a person should invest now or wait.

This is how the top 5 digital coins have behaved since the beginning of this financial year (as of April 1):

Bitcoin

Bitcoin is the oldest cryptocurrency in the world. Since its introduction in 2009, it has remained an undisputed leader in the cryptocurrency market. It was Rs. 42 lakh on April 1st of that year, but by the end of May, when the market collapsed massively due to a Chinese crackdown on mining, it had hit a low of Rs. 22 lakh. However, Bitcoin has recovered. On September 17th it was Rs. 37 lakhs.

ether

Experts say this is the only virtual currency that has a chance to challenge Bitcoin’s dominance, but it is far from realizing its true potential. At the beginning of this fiscal year, Ethereum was trading at Rs. 1.40 lakh. It broke the Rs. 2 lakh barrier by early August. This was the time when the Ethereum blockchain had the big London upgrade. Since then, it has grown in value continuously. As of September 17, at the time of writing, it was Rs. 2.76 lakhs.

Cardano

Launched in 2017, Cardano is a relatively new cryptocurrency coin that has skipped the line to find its place in the top 5. Billed as a third-generation blockchain (Bitcoin and Ethereum are the first and second generation, respectively), Cardano achieved a return of almost 150 percent in just one month. On July 20, it was trading at Rs. 79.71 but by August it had peaked at Rs. 191.41. It saw further gains over the next few weeks, hitting an all-time high of Rs. 227 earlier this month. But profits have since started to decline. On September 17, at the time of writing, it was Rs. 187.82.

Tether

Tether is a stablecoin pegged to the US dollar. As the first coin, it is the most popular stablecoin. Since it is pegged to the dollar, meaning that each Tether coin should be backed by actual dollars in Tether Limited’s reserves, it is very stable compared to other cryptocurrencies. If this stability is predictable, it also limits the ability to grow wealth quickly. It stayed within the Rs. 73–75 this fiscal year. It was about Rs. 77 on 09/17.

Ripple

It is the fifth ranked cryptocurrency in terms of market capitalization. Technically, Ripple is not a cryptocurrency. It facilitates open source payments and XRP is the cryptocurrency that runs on this network. The price has doubled from Rs since April 1st. 41 to Rs. 80 now. But it hasn’t seen a rally similar to what it did in late 2017, which hit its all-time high of Rs 242 in early January 2018. At the time of writing, it was Rs. 84.

Interested in cryptocurrency? We discuss everything about crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music, and anywhere you get your podcasts.

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financial: Cryptocurrency Hyper Fund under government scanner

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NEW DELHI: The government is closely monitoring the cryptocurrency in the market based outside of the country after alerting that the authorities responsible for investigating financial fraud are watching a company called Hyper Fund.

Sources said Hyper Fund, a DEFI from the Hyper Tech Group, recently got under the radar. The group claims to have launched the Hyperfonds to provide a decentralized financial infrastructure. Hyper Fund was announced in mid-2020.

However, according to the company’s website, it is run by Ryan Xu, however, using the Multi-Level Marketing (MLM) model, Hyper Fund has attracted investors with higher returns and such offers, a common practice with Ponzi programs that have alerted authorities first place.

According to sources, complaints against such funds are piling up in several states. In India, the RBI, the Union Finance Ministry and SEBI had warned against trading in cryptocurrencies. The RBI plans to launch India’s official digital currency – E rupee – shortly.

The Treasury Department has made it clear that virtual currencies are not legal tender either. Therefore, VCs are not currencies. The RBI has also made it clear that it has not granted any company / company a license / authorization to operate or trade in Bitcoin or a virtual currency.

In June 2018, Amit Bhardwaj and his brother Vivek Bhardwaj were arrested by Pune police at Delhi Airport in connection with an alleged pyramid scheme. Bhardwaj, started his own Bitcoin mining operation and reportedly defrauded more than 8,000 people across the country for Rs 2,000 crore.

He has filed a complaint with the Delhi Police Department’s special cell alleging that he received a blackmail call and was asked to pay protection money on September 6, 2021 in exchange for promised higher returns.

UK regulators have issued warnings about such funds, and the Financial Conduct Authority (FCA) has issued warnings for both hyper-funds and fund advisers.

On its website, first published March 23, 2021 and later updated on August 31, the FCA said, “We believe this company may offer, advertise or sell financial services or products in the UK without our approval Any financial service or product required in the UK must be authorized or registered by us. This company is not authorized by us and is aimed at individuals in the UK. ”

She warns investors against such a fund and goes on to say, “You do not have access to the Financial Ombudsman Service or are protected by the Financial Services Compensation Scheme (FSCS), so you are unlikely to get your money back if something goes wrong . ”

The website used by these companies under the FCA is http://thehyperfund.online, https://thehyperfund.com/

Decentralized finance offering (DEFI) via blockchain technology from HyperTech Group, which is said to be based in Hong Kong, sources said Indian regulators and agencies have started monitoring the situation.

Following actions by financial regulators such as the US Security and Exchange Commission and the UK Financial Conduct Authority, Indian regulators and enforcement agencies have started overseeing investments in Hyper Fund – a decentralized financial offering powered by blockchain technology from the HyperTech Group.

Financial regulators around the world recognize the fact that Ponzi program organizers often use the latest innovations, technologies, products, or growth industries to attract investors and promise high returns on their program. Potential investors are often less skeptical of an investment opportunity when they judge something new, new or “current”. On its website, Hyper Fund claims to be “the strongest rocket in blockchain funding”.

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