A non-fungible token (NFT) based on an image of a popular internet meme portraying a two-year-old girl was sold for roughly $74,000 (£54,000).
After her mother discloses a surprise vacation to Disneyland, young Chloe Clem gives a dissatisfied face in the photo nicknamed Side Eyeing Chloe. NFTs are digital tokens that prove ownership of digital art. The NFT was auctioned off by the Clem family for 25 Ethereum, a cryptocurrency.
It was bought by 3F Music, a Dubai-based music production company. 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.
Katie, Chloe’s mother, said she and her family watched the auction from their Utah home and were pleased with the outcome. “If we go by previous meme sales, it’s a little lower, but we’re grateful for what it sold for,” Katie explained. “The money is great, but the fact that we get to do this as a family makes it even better.”
This year, online meme NFTs have sold in the millions of dollars. The author of another storied online success, Nyan Cat, sold an NFT of the image for 300 Ethereum, worth more than $880,000, in February.
The NFT of Side Eyeing Chloe was derived from Chloe’s mother Katie’s original film, which was posted on YouTube in 2013.
Chloe is shown in the video promoting the family’s trip to Disneyland. When one of the daughters, Lily, begins to cry, the camera moves to Chloe, who pulls a reproachful expression. Chloe’s video, which she made when she was ten years old, has been viewed over 20 million times. Chloe also has over 500,000 Instagram followers and has been featured in a Google ad in Brazil.
Ms. Clem stated that for the time being, they intend to keep the Ethereum from being sold.
The digital tokens, according to critics, have a significant environmental impact. Others have suggested that their current popularity is the result of a stock market bubble.