A group of meme-loving cryptocurrency netizens have purchased the rights to the Shiba Inu photo linked to Dogecoin and the doge meme.
Own the Doge, a decentralized autonomous organization (DAO), has purchased the rights to the iconic image of Kabos, an 18-year-old Shiba Inu, from the dog’s owner, who is a co-leader of the group. said Cointelegraph. A photo of a perplexed dog sitting on a sofa gained notoriety in the cryptocurrency industry, inspiring a meme called “doge” featuring the dog surrounded by multicolored pieces of text indicating some kind of internal monologue. according to On KnowYourMeme, the meme encyclopedia.
The purchase will give the group exclusive licensing rights to the image, which it hopes will help it land lucrative deals with brands looking to capitalize on the image’s popularity by creating doge-themed merchandise, DAO leaders said.
“I think this deal opens up a lot for companies that are confused about copyright,” said Tridog, the Own the Doge project leader.
Own the Doge did not disclose the price it paid for the Shiba Inu images.
The group did not immediately respond to The Block’s request for comment.
According to Cointelegraph, it took Own The Doge three years to close the deal. In the meantime, the group negotiated the purchase in cooperation with legal experts in the United States and Japan.
Kabosu is not the only Shiba Inu that attracts buyers with its likeness. This is an NFT version of Achi, the Shiba Inu dog mascot. dogwifhat ($WIF) altcoin, gone up for auction In March. NFT selling price 1,210.759 ETH, or roughly $3,726,716 at the time of this writing. according to Go to the foundation’s auction page.
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