DAO Acquires Rights to Famous Doge Meme

In a significant move within the meme and cryptocurrency culture, a decentralized autonomous organization (DAO) named Own the Doge has successfully purchased the rights to the iconic Shiba Inu photo that sparked the Dogecoin and Doge meme phenomena. The image of Kabosu, the 18-year-old Shiba Inu sitting on a couch, has become a staple in digital pop culture, known for its whimsical overlay of colourful, internal monologue text.

Own the Doge co-leaders announced their acquisition, emphasizing their goal to obtain sole licensing authority over the famous image. This strategic move is expected to open new revenue streams by allowing the DAO to enter into exclusive merchandising agreements with brands keen on capitalizing on the widespread appeal of the doge meme.

The transaction, which was not disclosed in terms of price, was the culmination of three years of negotiations involving legal teams from both the U.S. and Japan. Tridog, the project leader of Own the Doge, highlighted the potential benefits of this acquisition for corporations, particularly by clarifying copyright confusions that may have previously deterred commercial use of the image.

This development is not isolated in its significance. The fervour for Shiba Inu-related assets continues to grow, as demonstrated by another noteworthy event in the meme economy. An NFT featuring Achi, the Shiba Inu puppy mascot of the dogwifhat ($WIF) altcoin, was auctioned off in March for a staggering 1,210.759 ETH, equivalent to approximately $3,726,716 at current valuations, according to the Foundation auction site.

The acquisition by Own the Doge not only underscores the enduring allure of meme-inspired digital assets but also marks a pivotal moment in the integration of traditional copyright practices within the rapidly evolving NFT and cryptocurrency landscapes. This move could potentially lead to a broader acceptance and institutionalization of meme assets, influencing both future market trends and copyright laws in digital content.