High-priced knitted hat, crafted by Dogwifhat, is purchased by Meme Coin Launchpad's founder for a staggering $800,000.
In an exciting turn of events, Finn, the founder and CEO of the meme coin launchpad Bags, has acquired the iconic Dogwifhat pink beanie for a staggering sum of 6.8 BTC, approximately $792,696. This purchase, dubbed the "billion-dollar hat", was made during an auction on the Bitcoin Ordinal platform Ordcity more than a year after the meme associated with Dogwifhat, a cute dog wearing a knitted pink hat, first captured the internet's heart.
Finn's acquisition marks Bags' first official purchase, using revenue from the Bags token ($BTH) that supports the launchpad ecosystem. The hat is set to become an integral part of the Bags identity, serving as a tool to engage and grow the Dogwifhat community.
Finn envisions the hat as a central branded asset for the Bags launchpad and its token ecosystem, driving community involvement and token value growth. There is potential for creating related token metadata updates and integrating tied tokens to enhance utility and exclusivity tied to the hat. This move aligns with Bags’ broader strategy of combining meme culture with DeFi utility and community-driven projects.
The original hand-knitted hat was created by the owner of a Shiba Inu pup named Achi while living in South Korea. The creators of popular vintage memes Trollface and Nyan Cat have also been paid for meme coins of their art on Bags.
Finn plans to give the hat "back to the community", though the exact details of how this will be done are yet to be revealed. The current market cap of Dogwifhat (WIF) stands at $954 million, up 5% on the day, according to DEX Screener. Dogwifhat (WIF) is a Solana meme coin that hit a peak market cap of $4.58 billion in March 2024.
The original photo of Achi, the dog wearing the pink beanie, was sold in an NFT auction for 1,210.759 ETH (around $4.27 million at the time) in March 2021. The owners of Achi wrote a post congratulating Finn on his win and expressing hope that the hat brings him and others the same luck, fun, and serendipity it brought them.
Meanwhile, Finn claims to have used fees associated with a token from Bags for his bid in the auction. Bags allows token deployers to share trading fees with a user on X, fostering a sense of community and shared success within the platform.
With this acquisition, Finn is hinting at a possible sequel to Dogwifhat, potentially launching a new wave of excitement and engagement within the meme coin community. Stay tuned for more updates as Bags continues to blend meme culture with DeFi utility and community-driven projects.
- Finn, the CEO of meme coin launchpad Bags, acquired the iconic Dogwifhat pink beanie for 6.8 BTC, which is approximately $792,696, in an auction on the Bitcoin Ordinal platform Ordcity.
- The hat will become an integral part of Bags' identity, serving as a tool to engage and grow the Dogwifhat community.
- Finn envisions the hat as a central branded asset for Bags, driving community involvement and token value growth, and potential for creating related token metadata updates and integrating tied tokens.
- The creators of popular memes Trollface and Nyan Cat have also been paid for their meme coins on Bags.
- Finn plans to give the hat "back to the community", though the exact details are yet to be revealed.
- The current market cap of Dogwifhat (WIF) stands at $954 million, up 5% on the day, according to DEX Screener.
- Finn claims to have used fees associated with a token from Bags for his bid in the auction, suggesting a possible sequel to Dogwifhat, potentially launching a new wave of excitement and engagement within the meme coin community.
