Finn, the founder of the trading platform BAGS, has become the owner of the original dogwifhat hat, auctioned on August 8, 2023.
Auction of the dogwifhat Hat
On August 8, the original knitted hat worn by the dog Achi was auctioned on the digital platform Ord City. The hat was sold for 6.8 bitcoins (approximately $793,409). Finn placed the winning bid in the final hours of the auction. Notably, this collectible item had never been sold before and may not be available for public trading again according to the owner.
Impact on WIF Token Price
Following the conclusion of the auction, the dogwifhat token (WIF) surged by 5.7%, hitting a peak of $0.96, with the current price at $0.95. The market capitalization of the token rose by 4.93%, exceeding $296 million. Additionally, the trading volume over the last day increased by 73.7%, indicating heightened market activity.
Future Projects from BAGS
Finn hinted at further developments and upcoming projects related to the acquisition of the hat in a recent post on the platform X. He stated: "I’m excited to announce that @BagsApp has made its first acquisition. We’ve acquired a $1m hat for just $0.7m." This statement opens up possibilities for new initiatives from the company in the near future.
The acquisition of the original dogwifhat hat signifies not just a successful purchase of a collectible item, but also the potential beginning of new initiatives by BAGS in the realm of memes and digital assets.
