Photo of a dog wearing a hat sells as an NFT for over $4 million

A photo of Achi, a dog in a hat that became a popular meme, has just sold as an NFT for a staggering $4.3 million. The NFT of the ‘Dogwifhat’ meme was sold to a bidder who goes by the name of GiganticRebirth.

The doggy’s human mum and dad, who are based in South Korea, will get to pocket the equivalent of $4.1 million dollars in Ethereum.

🚨SOLD🚨On November 17, 2018, Achi’s owners captured him in an endearing hat on camera. It went viral, ultimately becoming a meme and mascot for the meme coin $wif. Today, that image was collected by Gigantic Rebirth Ventures on FND for 1,210.759 ETH (4.3 Mil)!— Rob | Foundation (@RDToTheMoon) March 18, 2024

The bidding war took around one hour to go from an opening amount of 0.15 Ethereum to the eventual 1,210 Ethereum. The final amount managed to just surpass the record for the highest selling meme NFT. The previous record was held by the original Doge NFT, which sold in 2021 for $4.234 million.

This is an interesting turn of events, considering that the general NFT bubble has most definitely burst. In 2022 NFT sales dropped by 97%.

Still, it seems that cute dogs in knit hats can still muster up some big sales in the crypto world. Strange what people will buy!

[via petapixel]

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