cointelegraph.com
Nonfungible token ($NFT) memes have brought mainstream attention to the world of NFTs and digital art, helping to expand the market and increase its legitimacy. The high prices paid for some $NFT memes have demonstrated the value of online culture and the emotional connection that people can have to internet memes. $NFT memes have also created a new way for creators and artists to monetize their work, potentially leading to new opportunities and revenue streams in the digital economy.
What are $NFT memes?
$NFT memes refer to internet memes that have been turned into nonfungible tokens, which are unique digital assets that are verified on a blockchain. These NFTs allow the original creators of the memes to authenticate and monetize their work. Some examples of $NFT memes include the Nyan Cat, the Disaster Girl and The Keyboard Cat.
Related: What is crypto art, and how does it work?
Nyan Cat
The pixelated flying cat with a Pop-Tart body became the first meme to be sold as an $NFT in February 2021 for around 300 Ether ($ETH).
As the first meme to sell for such a high price, the sale of the Nyan Cat $NFT was a watershed event in the $NFT community. This transaction contributed to the legitimacy of the idea of digital art sales as NFTs.
Disaster Girl
A photo of a young girl with a mischievous smile standing in front of a burning house sold for nearly 180 $ETH as an $NFT in April 2021.
The sale of this $NFT, “Disaster Girl,” proved that even relatively obscure memes might be valuable as NFTs. Also, the sale received a lot of media attention, which raised NFTs’ profile even more.
Doge
This popular Shiba Inu dog meme became an $NFT sensation in 2021, with the original “Doge” meme selling for 1,696.9 $ETH in June 2021.
The success of the Doge NFTs helped to cement the popularity of the Shiba Inu dog meme in the $NFT space. The high prices paid for some of these NFTs also helped to generate significant mainstream media coverage.
Stonks
A meme of a businessman holding a graph showing a stock’s upward trajectory sold for $10,000 as an $NFT in May 2021.
The sale of the Stonks $NFT showed that even more esoteric memes can have value as NFTs. The sale demonstrated the potential of NFTs as a fresh method for creators and artists to recoup their costs.
Pepe the Frog
A green anthropomorphic frog that became a symbol for the alt-right and then a meme sold as an $NFT for $1 million in May 2021.
The Pepe $NFT’s $1-million sale sparked debate because the alt-right has been linked to the meme. It did, however, show that even contentious memes can be useful as NFTs.
Charlie Bit My Finger
A viral video of two young British brothers sold as an $NFT for 389 $ETH in May 2021. The high price paid for this $NFT demonstrated that viral films, in addition to static photos, may be lucrative as NFTs.
Related: How to store $NFT assets — A beginner’s guide
Grumpy Cat
A meme of a feline with a permanently displeased expression became an $NFT in May 2021 and sold for over 44.2 $ETH.
The Grumpy Cat $NFT’s sale proved that memes with animal subjects might be just as lucrative as those with human subjects.
Harambe
A gorilla that was shot and killed in a zoo in 2016 became an internet meme and sold as an $NFT for 30.3 $ETH in May 2021.
The sale of the Harambe $NFT demonstrated how some people have an emotional attachment to particular memes and are prepared to pay exorbitant rates for them.
Good Luck Brian
A photo of a teenage boy with braces and a vest that became an $NFT in April 2021 was sold for 20 $ETH.
The popularity of the Bad Luck Brian $NFT proved that memes, even those that are somewhat dated, can still have a place in the $NFT market.
The Keyboard Cat
A video of a cat playing a keyboard sold for over 33 $ETH as an $NFT in March 2021. The high price paid for this $NFT demonstrated that videos can also be valuable as NFTs, not just static images.
Success Kid
The meme features a young boy with a determined expression, clenching his fist, and has been widely used as a symbol of accomplishment and success. This photo was sold as an $NFT for 15 $ETH.
The growing argument regarding the utility and legitimacy of NFTs is reflected in this meme. NFTs are viewed as a speculative bubble by some, while others see them as a novel and exciting opportunity for artists to make money off of their work.