3F Music, a Dubai-based music production company, has purchased another meme-inspired non-fungible token (NFT). A report unveiled this news on September 26, noting that the firm purchased a side-eyeing Chloe NFT for 25 ETH worth $73,953.75 at the time of auction.
According to the report, the clip has over 20 million views, and a screengrab of her reaction has been used in memes countless times. The screengrab is a 660×371 image, implying that each pixel fetched approximately $0.30. Katie Clem, Chloe’s mother, noted that the money obtained from the sale was awesome, in as much as the NFT sold for less than what the family made from meme sales.
Katie added that she and her family watched the auction from their home in Utah, adding that they were delighted in the fact that they got to complete the NFT sale together. She further noted that her family intends to HODL the ETH obtained from the sale for a while. Well-versed about the volatility of cryptocurrencies, Katie said that the 25 ETH might be worth more in a week.
Indeed, the price of Ethereum has increased since the sale. At the time of writing, the second-largest cryptocurrency by market capitalization is changing hands at $3,102.25 after gaining 11.36% over the past 24 hours. This surge has seen the family’s crypto holdings increase to $77,556.25.
NFT craze continues
This news comes as 3F Music continues purchasing more meme-based NFTs. Before the side-eyeing Chloe piece, the company bought NFTs versions of memes based on Disaster Girl, The Overly Attached Girlfriend, and the two Creepy Chans. Cumulatively, these purchases saw the company dish out $993,000 in ETH.
Apart from individuals, mainstream companies have also onboarded the NFT bandwagon, with companies like TIME launching NFT collections. The news magazine’s latest NFT release involved the sale of 4,676 NFTs for 0.1 ETH each. Dubbed TIMEpieces, the collection sold out in a few minutes, showing the NFT craze does not have an end in sight.
Fashion brands have also been embraced NFTs, with Dolce & Gabbana starting the auction of its first NFT collection on September 20. Among the NFTs is a piece dubbed the DOGE crown. While the crown has nothing to do with the Shiba Inu-inspired meme coin, its current bid stands at $501,819.
Hoping to raise this bid higher, the fashion house suggested that whoever purchases the DOGE crown should be anointed the king of crypto, potentially wooing personalities like Elon Musk, an ardent DOGE supporter.