A music company paid $74,000 for the non-fungible token (NFT) of the Side Eyeing Chloe meme, which shows a two-year-old girl. 3F Music, a Dubai-based music production firm, purchased it.
In 2013, a young girl became famous after a meme depicting her negative side-eyeing reaction to her mother’s announcement of a vacation to Disneyland went viral on social media.
Since then, Chloe Clem, now 10, was known by all as ‘side-eyeing Chloe’. However, her mother Katie has now decided to tap into her popularity by auctioning the meme as a non-fungible token (NFT) for thousands of dollars.
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Clem has remained a social media star with over 500,000 Instagram followers and has even reportedly featured in a Google advertisement in Brazil.
In September 2013, Katie uploaded a video featuring her two daughters reacting to the Disneyland surprise.
NFTs are often purchased and sold in exchange for cryptocurrencies. Buyers do not own the copyright on the image that the digital certificate depicts, despite having the certificate.
These transaction records are permanent, have been validated several times, and can not be erased or changed because NFTs are enabled by blockchain.
Each non-fungible token has a distinct identity.As a result, no two digital entities are permitted to share a token.
In March, Twitter co-founder Jack Dorsey sold his first-ever tweet to a Malaysian businessman for $2.9 million.
A woman who appeared in the film ‘Disaster Girl’ sold it for $500,000 in April of this year.Another image, dubbed the “Overly Attached Girlfriend Meme,” sold for $411,000.
NFT transactions, on the other hand, have their own repercussions.
There have recently been environmental concerns regarding the long-term viability of NFTs, as they demand enormous amounts of energy to mine coins, process transactions, and maintain the blockchain.
(With inputs from agencies)
