First Fractionalized NFT on Tier 1 Exchange
PleasrDAO, a collective of DeFi leaders, early NFT collectors and digital artists announced a partnership between Amber Group and world’s most famous meme, The Doge NFT (fractionalized into DOG as a first-class ticket to entertainment), to bring greater accessibility to the rapidly growing fractionalized NFT ecosystem.
As part of this work, Amber Group is excited to work with The Doge NFT (DOG) as it launched on Huobi, the #5 largest crypto exchange in the world according to CoinGecko.
The partnership aims to address a key challenge unique to the NFTs – the lack of accessibility. The expensive nature of NFTs presents challenges for fans, collectors, and potential community members who often lack the capital to participate in the NFT marketplace. Amber Group’s relationships put it in a unique position to bring greater convenience into the NFT ecosystem, enabling for the fractionalizing of NFTs. Through fractionalization, NFTs can be owned by multiple individuals, creating openness for a broader segment of crypto enthusiasts who would otherwise not be able to participate in the trading of NFTs.
PleasrDAO turned one year old in March 2022 making it one of the longest running DAOs and was formed when its members purchased pplpleasr’s Uniswap V3 “x*y=k” animation for 310 ETH. The NFT depicts a pink unicorn making its way towards an Ethereum logo-cradling oasis. Foreshadowing at its finest.
Since then, PleasrDAO has collected other big-ticket items — all linked to what it describes as “culturally significant” ideas and causes. This includes the original Doge meme turned NFT from the owner of Kabuso in Japan and the one-of-a-kind unreleased Wu-Tang Clan album Once Upon a Time in Shaolin purchased from the US government.
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PleasrDAO last raised an undisclosed sum from a16z and top crypto investors in December.
“Amber Group moved quickly and thoughtful providing us with doge-class service,” explains Tridog, head of The Doge NFT project.” We are excited to allow easier access to our tokenized community and first class ticket to dogentertainment.”
“NFTs are integral to the broader digital asset ecosystem, and greater accessibility to NFTs will undoubtedly accelerate the overall awareness and growth of the entire industry,” said Tiantian Kullander, Co-founder of Amber Group. “We’re excited to partner with PleasrDAO in bringing this convenience to fractionalized NFTs. We have every confidence that with this partnership, PleasrDAO will catalyze greater experimentation and innovation of digital art and communal ownership. We are looking forward to transforming the NFT ecosystem together.”
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