Billy Markus, the creator of Dogecoin, has held an auction for a new NFT dubbed "Crappy Dogecoin Doodles" to his weekly series of NFTs.
Today, Markus released the fifth token in the series, which depicts a hurriedly sketched Shiba Inu dog laying in a field. “This week, I attempted to sketch the Doge with her paws crossed from memory. This was the result,” Markus wrote on Rarible.
Currently, the NFT is being auctioned off for 0.069 ETH ($140). Markus will only receive 10% of the total.
The token will be auctioned off in lots of 420 until the sale concludes next Monday. Markus has observed unclaimed doodles in the “Crappy Dogecoin Doodle” series being burnt before to
In June, Markus began publishing “Crappy Dogecoin Doodles.” Though the doodle was intended to be a test run for more serious NFTs like Capped Dogecoin, demand exceeded expectations, and the token sold for 1500 times Markus' asking price.
Markus has thus far made 39 Dogecoin-themed NFTs, some with more sophisticated digital artwork than others.
Dogecoin lacks the ability to handle NFT tokens. As a result, Markus' tokens are created on the Ethereum blockchain and sold on Rarible, a prominent NFT token marketplace.
Markus has also spoken up on NFT concerns. Recently, opponents claimed that NFTs are harmful to the environment. Markus responded that NFTs "merely piggyback" on current blockchains and generate "barely any more waste."
Markus said he'll keep making Doge-themed NFTs as long as there's a demand for them in the community.
Dogecoin is a cryptocurrency that began as a joke but has now grown to become the sixth-most valuable coin, with a market value of $47.3 billion (a serious figure: it is larger than many firms on the S&P 500).
The coin has grown its popularity in the last year as Twitter's loudmouth (and the world's third-richest man), Tesla CEO Elon Musk, has pushed it online, labeling it his favorite cryptocurrency.