Non-Fungible Token Are memes the next big asset on digital platforms

1. Non-Fungible Token – Are memes the next big asset on digital platforms? The primary motive is to first understand what fungible and non- fungible tokens even mean for the ordinary person? An NFT or non- fungible token could be considered as a form of a digital asset that links itself with the possession of art online or in the physical world. This precisely means that every meme, video, song, or form of art on the digital forum that has a certain value attached to it will have a value in the crypto market.

2. While fungible items can be interchanged within the gen z without a care in the air, for non-fungible tokens, there is an original assigned value that needs to be auctioned off in order to be interchanged. The costliest non-fungible token ever sold is designated to be auctioned off in 17 billion parts. What assigns value to a non-fungible token? Any original artwork comes with an assigned value. It’s the same for artworks online that have a value assigned to their intellectual property. The NFT meaning is then determined by the rank of uniqueness a certain artwork holds and the amount of traction it receives in the digital field. These values are determined by the crypto market where something as simple as the doge meme, which we use as a template every now and then gets assigned a value and thereby gets auctioned. Digital artists stand a chance of earning real money over non-fungible tokens and this could be considered the next big asset on the digital platforms. The act could be equated with the rich investing huge amounts on surrealist paintings in art auctions. The Doge meme which inspired cryptocurrency to launch the dogecoin because of its perennial popularity amongst millennials was auctioned off at 4 million dollars, thereby becoming the costliest meme to be sold as a non- fungible token. Therefore, memes could be considered as important as other physical collectible items of worth for a person willing to invest in digital assets in the form of non-fungible tokens. Doge ownership and its value as a non-fungible token The doge meme NFT was inspired by something as simple as the Shiba- Inu but stands a huge price in the market because of its intellectual uniqueness. PleasrDAO, the company which currently has the Doge ownership, decided to split the non-fungible tokens into 17 billion parts and auction them off in the market on September 1. Some have even equated the auction of the famous doge meme to the auction of the Mona Lisa in the Louvre, thereby signifying the value adorable doge holds in the digital world.

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