Expensive Dog-Shaped Knitted Hat Sold for $800,000 to Meme Coin Launchpad's Founder
The iconic Dogwifhat pink beanie, a symbol of internet culture and a spark for countless memes, has found a new home. Finn, the founder and CEO of meme coin launchpad Bags, has acquired the beanie for approximately $800,000.
Finn described the acquisition as Bags' "first acquisition" and a "billion-dollar hat," signifying its significance for the platform. The Dogwifhat beanie is now an integral component of Bags' branding and avatar system.
Finn plans to link the beanie to the Bags community token, "BUY THE HAT," with the aim of boosting token adoption and fostering community cohesion. This strategic move is expected to deepen engagement within the Bags community and leverage the beanie as part of the platform's identity and growth strategy.
The acquisition was partly funded by Bags' unique model, which shares trading fees with token holders, supporting further platform development and community involvement. The connection of this culturally significant Dogwifhat asset to the Bags launchpad token indicates a strategic move to blend meme culture with emerging tokenomics on Bags.
Finn also revealed that he used a combination of his own funds and fees from the Buy the Hat token for his bid. The physical Dogwifhat hat was sold to Finn for 6.8 BTC ($792,696) on the Bitcoin Ordinal platform Ordcity.
The Dogwifhat meme, which started with a hand-knitted pink beanie worn by a Shiba Inu pup named Achi in South Korea, has since spawned numerous related memes and meme coins such as Catwifhat, Bidenwifhat, and Dogwifhat (WIF) itself. The latter hit a peak market cap of $4.58 billion in March 2024, but is now at a $954 million market cap.
This plan reflects Finn's vision of enhancing the Bags launchpad's appeal through culturally significant memecoin assets and community-driven tokens, building on Dogwifhat's popularity and market momentum. Finn aims to create a sequel to Dogwifhat by updating the metadata of the Buy the Hat token.
In the world of memes and blockchain, the Dogwifhat pink beanie's journey continues, now as a key asset linked to the Bags platform's avatar and community ecosystem.
- Finn, the CEO of meme coin launchpad Bags, has acquired the iconic Dogwifhat pink beanie for approximately $800,000.
- The Dogwifhat beanie is now a crucial part of Bags' branding and avatar system, symbolizing the significance of the acquired asset for the platform.
- Finn plans to link the beanie to the Bags community token, "BUY THE HAT," with the intention of boosting token adoption and fostering community cohesion.
- The acquisition was partly financed by Bags' unique model, which shares trading fees with token holders.
- The physical Dogwifhat hat was sold to Finn for 6.8 BTC ($792,696) on the Bitcoin Ordinal platform Ordcity.
- The Dogwifhat meme has spawned numerous related memes and meme coins, including Catwifhat, Bidenwifhat, and Dogwifhat (WIF) itself.
- Finn aims to create a sequel to Dogwifhat by updating the metadata of the Buy the Hat token, blending meme culture with emerging tokenomics on Bags.
