Music company buys NFT of 'Side-eyeing Chloe' meme

An image of a popular internet meme, featuring a two-year-old girl, has been sold as a non-fungible token (NFT) for about $74,000 (£54,000).

The picture, dubbed Side Eyeing Chloe, shows young Chloe Clem giving a disapproving look after her mother reveals a surprise trip to Disneyland.

NFTs are digital tokens which demonstrate ownership of electronic art.

The Clem family auctioned their NFT for 25 Ethereum - a form of cryptocurrency.

It was bought by 3F Music, a Dubai-based music production company. The firm has not responded to BBC enquiries.

NFTs are typically bought and sold for cryptocurrency. Despite owning the digital certificate, buyers do not control the copyright for the image it represents.

Chloe's mother, Katie, told the BBC she and her family watched the auction from their home in Utah, and were delighted with the sale.

"If we're going based off meme sales before, it's a bit lower, but we're so grateful for what it sold for," said Katie. "The money is awesome but it's just the fact that we get to do this as a family is so much fun."

In September 2013, Chloe's mother Katie uploaded a video to YouTube, featuring her two daughters reacting to the Disneyland surprise.

One of the girls, Lily, starts crying, and the camera pans to Chloe as she pulls a reproachful face.

The video of Chloe, who's now aged 10, has been watched more than 20 million times.

Chloe has also amassed over 500,000 followers on Instagram, and has been featured in a Google advert in Brazil.

Ms Clem said that for now, they're planning to save the Ethereum from the sale.

"In an ever-changing world, it may be worth more next week," she said, referring to the cryptocurrency's volatile price.

But the family have plans for some of it in the near future.

"We'll definitely get a Walt Disney holiday out of this next year!"

Demand for NFTs has recently boomed, with some selling for millions of dollars in high-profile auctions.

Critics say the digital tokens have a huge environmental impact, since they are stored on a Blockchain, similar to crypto-currencies including Bitcoin and Ethereum. Others have suggested their current popularity is an investment bubble.

But as with cryptocurrencies, there are concerns about the environmental impact of maintaining the blockchain - a shared ledger with records of who owns what.