Cryptocurrencies
NFTs Boom Anew as DOG Coin Becomes $550 Million Asset Overnight
- Retail demand spikes for non-fungible tokens based on memes
- Asset known as Loot (for Adventurers) is also soaring in value
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The frenzy for digital artwork is breaking new ground as one of the Internet’s best-known memes gets turned into a near $550 million asset overnight.
The DOG coin -- a fraction of the non-fungible token depicting the famous Doge meme -- has doubled in value in less than 24 hours of trading, according to CoinGecko data. That makes it one of the most valuable NFTs yet.