Summary
TLDR: An Ethereum NFT photo of the original Dogwifhat meme sold for $4.3 million, becoming the most expensive meme NFT ever. The photo featured a Shiba Inu puppy in a knit beanie and was sold to a prominent crypto trader via an auction on Foundation. The sale benefits the South Korean pet owners who took the original photograph back in 2018. The meme coin inspired by the Dogwifhat meme, WIF, has also seen significant success, reaching a $3 billion market capitalization.
Key Points
1. An Ethereum NFT photo of the original Dogwifhat meme was sold for a record-breaking $4.3 million worth of ETH, making it the most expensive meme NFT ever sold.
2. The NFT featured an on-chain image of a Shiba Inu puppy in a knit beanie and was sold to GCR, a prominent pseudonymous crypto trader, after a fierce bidding war on the digital art platform Foundation.
3. The sale of the Dogwifhat NFT, which benefited the original photographer and owner of the adorable Dogwifhat puppy, highlights the growing value and importance of provenance in the world of NFTs and crypto.