DAO buys rights to Shiba Inu photo linked to Dogecoin, doge memes

A group of meme-loving crypto netizens has purchased the rights to a Shiba Inu photo linked to Dogecoin and Dogememe.

Own the Doge, a decentralized autonomous organization (DAO), has purchased the rights to the iconic image of 18-year-old Shiba Inu Kabosu from the group’s co-leader, who is the dog’s owner. Said Cointelegraph. A photo of a bewildered puppy sitting on a couch has become infamous in the cryptocurrency world, giving rise to a meme called “doge,” which features the puppy surrounded by colorful fragments of text expressing some kind of internal monologue. Ta. according to Visit the meme encyclopedia KnowYourMeme.

DAO leaders say the acquisition gives the group exclusive licensing rights over the images and the ability to strike lucrative deals with brands who want to capitalize on the images’ popularity by creating dog-themed products. He says he hopes it can be done.

“I think [the deal] “It opens up a lot of possibilities for companies where there is confusion around copyright,” Toridog, project leader for Own the Doge, told the magazine.

Own the Doge has not disclosed how much it paid to obtain the Shiba Inu image.

The group did not immediately respond to The Block’s request for comment.

According to Cointelegraph, Own the Doge took three years to close the deal. During that time, the group worked with legal experts in the United States and Japan to negotiate the acquisition.

Kabosu is not the only Shiba Inu dog whose likeness attracts buyers.NFT version of Achi’s Shiba Inu puppy mascot Dogwifhat ($WIF) altcoin went be put up for auction March. The selling price of NFT is 1,210.759 ETH, or approximately $3,726,716 as of this writing; according to Go to the Foundation auction page.

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