RED HONG YI’S FIRST NFT

“THE IDEA BEHIND DOGE TO THE MOON WAS ALL ABOUT PARODYING THE NATURE OF FIAT MONEY, WHERE ANY AMOUNT OF IT CAN BE PRINTED AT ANY TIME. I MADE IT SO WHOEVER OWNED DOGE TO THE MOON ALSO OWNED THE BASE COPPER PLATE, AND CAN PRINT AS MANY COPIES OF IT AS DESIRED.”

In 2021, Malaysian contemporary artist Red Hong Yi (better known by her moniker, Red) sold her Doge To The Moon nonfungible token (NFT) in an online auction for 36.3 Ethereum (ETH), which is currently valued at RM325, 000.

Recognised as the most expensive NFT sold by a Malaysian artist, this is the first work of six in her “Memebank” series, which will involve spoofing and redesigning banknotes from different countries such as the Chinese Yuan, US Dollar, Euro, British Pound, Malaysian Ringgit and Japanese Yen. Doge To The Moon is inspired by the Chinese Yuan as a nod to China being at the forefront of the cryptocurrency landscape, and being the first in history to issue paper money during the Song Dynasty.

The Doge To The Moon NFT dropped on Binance on June 27 as part of the cryptocurrency exchange platforms’ inaugural 100 Creators programme to launch the Binance NFT Marketplace. After a two-week auction, Doge To The Moon was sold to Anonymous_2la3, who will also own the physical copper plate (157.5cm x 75cm x 0.15cm) and the printed banknote on silk.

Red shares that a portion of the proceeds will be donated to Mercy Malaysia’s Covid-19 pandemic relief fund. She will also be using the money to initiate a series of community art projects.