DAO buys rights to Shiba Inu photo linked to Dogecoin, doge memes

A group of meme-loving crypto netizens has purchased the rights to the Shiba Inu picture linked to Dogecoin and the doge meme.

Own the Doge, a decentralized autonomous organization (DAO), bought the rights to an iconic image of 18-year-old Shiba Inu Kabosu from the dog’s owner, the group’s co-leaders told CoinTelegraph. The photo of the bewildered pup sitting on a couch gained notoriety in crypto circles, inspiring a meme called “doge” that features the pup surrounded by multicolored snippets of text that represent some type of internal monologue, according to meme encyclopedia KnowYourMeme.

The group hopes its purchase will give it sole licensing authority over the image, allowing it to strike lucrative deals with brands that want to capitalize on the image's popularity by creating doge-themed merchandise, the DAOs leaders said.

“I think [the deal] unlocks a lot for corporations, where there’s confusion around copyright,” Own the Doge project leader Tridog told the publication.

Own the Doge did not disclose the price it paid to acquire the Shiba Inu image.

The group did not immediately reply to The Block’s request for comment.

According to Cointelegraph, Own The Doge spent three years sealing the deal. During that time, the group worked with legal experts in the U.S. and Japan to negotiate the purchase.

Kabosu isn't the only Shiba Inu whose likeness is bringing in buyers. An NFT version of Achi, the Shiba Inu puppy mascot of the dogwifhat ($WIF) altcoin, went up for auction in March. The NFT sold for 1,210.759 ETH, or roughly $3,726,716, as of the time of writing, according to the auction page on Foundation.