Exploring the overlooked value of memetic provenance in crypto, highlighting projects like Own The Doge ($DOG) and Bureau of Internet Culture ($NFD).
In a sea of AI-generated noise and endless token launches, one might wonder: where's the culture? Memetic provenance, the verifiable origin and history of internet culture, is an undervalued primitive in the crypto space, offering authenticity and legitimacy that's often overlooked.
The Curious Case of Doge and Provenance
Back in June 2021, Atsuko Sato, the owner of Kabosu (aka, the Doge meme), auctioned off a Doge NFT for a cool $4.2 million. This NFT was then fractionalized into $DOG tokens, giving birth to Own The Doge (OTD). Fast forward to today, and legendary trader GCR regrets not buying the original Kabosu NFT, calling it potentially “the most valuable asset in crypto.” He later bought the original Dogwifhat meme for $4 million. This highlights the inherent, yet often ignored, value of memetic provenance.
Provenance vs. IP: What's the Diff?
In crypto, 'provenance' and 'intellectual property' (IP) get tossed around like hot potatoes. But they're not the same thing. Provenance is all about the origin and history of a digital artifact—who created it, when it was minted, and how it's been passed around. It’s verifiable on-chain. IP, on the other hand, is legal and off-chain. Think copyrights and trademarks.
Undervalued Primitives: $DOG and $NFD
Despite the incredible story and cultural significance, projects like Own The Doge ($DOG) and Bureau of Internet Culture ($NFD) remain surprisingly underappreciated. In a market flooded with fleeting trends, these assets offer something real: verifiable provenance, IP backing, and genuine cultural clout. Why aren't they commanding premium valuations?
Qubetics, Render, and Polkadot: A Tangent Worth Taking
While we're on the topic of undervalued assets, let's quickly pivot. As the crypto landscape shifts towards utility, projects like Qubetics (with its multi-chain wallet), Render (decentralized GPU rendering), and Polkadot (interoperable blockchains) are stepping into the spotlight. They're not memes, but they *are* solving real-world problems, adding another layer to the "what's valuable?" conversation.
Final Thoughts: Memes, Dreams, and Crypto Things
So, what's the takeaway? In the wild world of crypto, don't underestimate the power of a good meme, especially one with verifiable provenance. While everyone's chasing the next shiny object, maybe it's time to take a closer look at the cultural artifacts that have already captured our hearts and minds. Who knows, the next Doge might just be around the corner. Keep it classy, crypto kids!
