DogWifHat Photo NFT Sold For $4.3M, We Speak To The Seller And Buyer

Achi, the iconic 'Dog wif hat' meme, was recently sold as an NFT for $4.3 million (1,210 ETH), marking the largest NFT meme sale ever.

Before this, the photo of Achi gained immense popularity within the Solana community, propelling the associated memecoin, $WIF, to a $3.3 billion market cap at its current peak.

The three-day auction for the NFT was held on the Foundation platform, with FeistyDAO's Path facilitating the process. The bidding war ensued between prominent trader GCR (Gigantic Rebirth Ventures) and Memeland, with GCR ultimately securing the winning bid.

Following the sale, the entirety of the proceeds, excluding a 5% fee for the Foundation platform, was received by Achi's owners.

We had the chance to get some words from Achi's parents on the significance of this sale:

The final sale price far exceeded our expectations. We thought the reserve price of 5 Ethereum proposed by Feisty DAO was already a substantial amount. So, when the auction ultimately closed at over 1000 Ethereum, we were utterly shocked.

Before this auction, we had limited knowledge about the value of coins and NFTs. But this outcome showed us how a beloved cultural phenomenon can gain economic recognition and opened our eyes to the incredible power of the cryptocurrency industry in enabling this.

Achi's family will be giving some of the money to a dog rescue charity in Korea.

Cryptopathic who helped bring this sale together also mentioned: "This sale helps prove that cryptocurrency can empower anyone in the world to take control of their creations and benefit from it. We at FeistyDAO are elated to have made this sale happen!"

Surprisingly enough, the two bidders Memeland and GCR had a very similar reason for wanting to acquire the piece.

We asked GCR, "Why this NFT?", and he responded that he regretted not winning the Doge NFT auction in 2021 and didn't want to take any chances this time around.