Feisty Doge, the dog behind the cryptocurrency Dogecoin, has long been famous. Now he is also rich – or at least the owner of the Feisty Doge NFT. Sold in small bites, it reached a combined value of around 85 million US dollars. The NFT thus replaces Beeple’s Everydays: The First 5000 Days, a work that had brought 69.3 million US dollars.
43,279 US dollars had been paid for the NFT by the Feisty Doge buyer in June 2021. The increase in value is not because another collector offered more money. The path was simple: on 19 August 2021, the owner wrote on Twitter that he had divided the auctioned NFT into 100 billion tokens. Many, many people bought the small shares – and together paid the staggering 85 million US dollars.
So if individual NFTs are too expensive, they can also be split up and sold more cheaply. In the world of the stock exchange, this is known as a stock split. This means that one share of a company is divided into ten new shares. The price per share is then only one tenth, which makes the paper visually cheaper.
In the case of the Doge NFT, one can therefore ask whether it really represents the new record NFT? But since the NFT itself was divided, the calculation is quite correct.