Dogecoin is arguably the most popular meme coin on the market today, rising to fame after names like Elon Musk, Snoop, and other big stars showed interest in the cryptocurrency. Well, it doesn’t look like the creators of the coin are stopping at cryptocurrency.
Doge-Themed NFTs are Beginning to Hit the Market
There are a collection of doge-themed non-fungible tokens, or NFTs, making their way to the internet.
For many, this is an exciting offering. After all, Dogecoin appreciated in price pretty significantly, making many rich. Now, it seems as though the Doge-themed NFTs are doing the same thing.
Only one token in the collection actually portrays the original 2013 doge meme, which features a Shibu Inu dog. That meme token grew to reach a value of $336 million in September of last year.
The collection appeared on OpenSea and features pixel art images. The collection, known as Dreaming Doge NFTs, comes with a starting price of 0.6 ETH.
At the moment, there are only eight images featured in the collection, with the most expensive one being 1.7 ETH, which works out to about five thousand bucks.
The news adds validity to news announced in December of last year that a developer was able to mint an NFT on the Dogecoin blockchain.
Why Is This Important?
At first glance, Doge-themed NFTs seem like just another NFT project. So, what is it that makes this project so exciting?
First and foremost, Dogecoin is one of the most popular cryptocurrencies in the world. As a result, the NFT collection already has a relatively captivated audience that will relate to the NFTs in the collection.
On top of that these NFTs seem to be minted on the Dogecoin blockchain. Ultimately, this means that the blockchain has added utility, which has the potential to lead to gains in the value of Doge. After all, in the crypto world, utility is becoming the name of the game.
The Bottom Line
The bottom line here is simple. Dogecoin became one of the most popular cryptocurrencies in the world, and with one of the creators of the coin jumping into NFTs, the collection has the potential to do the same, screaming for the top in value in the process.
Considering that there are only a few images in the collection, I’m expecting for more to come in the future. Nonetheless, early adopters of this collection have the potential to see significant gains ahead.