In A Historic Transaction, Dogecoin Was Used To Purchase NFTs Worth $600,000

Bill Lee, the founder of MyDoge, a self-custodial Dogecoin wallet, reportedly paid $600,000 for 25 Fire-Tier versions of BIG3’s Aliens using DOGE, making it the largest commercial transaction in the meme cryptocurrency’s history.

Ice Cube, an American rapper, founded the Big3 professional basketball league, and Big3 chose to sell the team’s rights using non-fungible tokens (NFTs). The Big3 league decided to sell 25 Fire-tier NFTs, which give owners control of the Killer 3s’ licensing, intellectual property (IP), and league-approved items.

As a result of Lee’s ownership rights being acquired by NFT, Big3 will adopt DOGE, resulting in the integration of the MyDoge wallet, allowing players, coaches, and teams to collect DOGE tips on Twitter with simply a tweet. Aliens will also prominently display MyDoge/Dogecoin on squad uniforms, events, and broadcasts.

“While others are buying NFT images of apes and owls, I believe that NFTs with utility is the next frontier. It is a dream to own a basketball team and the BIG3 is shifting the NFT game by offering ownership rights such as licensing/IP, team voting/management, and merchandising,” said Lee. “The Doge Army and I look forward to making DOGE the people’s currency while helping our team hoist the championship trophy. I can’t think of a better NFT experience than that today.”

Dogecoin-themed music

DOGE has recently seen a lot of musicians use it into their songs. Rito Rhymes, a New York rapper, made his DOGE-inspired song by singing an acapella rendition of the DOGE Foundation’s Trailmap. The Foundation Trailmap lays forth a strategy for protecting Dogecoin through network diversification, as well as defining Dogecoin through a written, verifiable DOGE Standard.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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