Elon Musk created SpaceX in 2002, intending to lower space transportation costs to enable the colonization of Mars.
SpaceX will launch the “DOGE-1 Mission to the Moon” in the first quarter of 2022. The firm will accept the meme-inspired cryptocurrency as full payment for the lunar cargo.
“We are thrilled to be collaborating with Geometric Energy on their DOGE-1 project,” Bustamante, the founder of DogeLabs, said.
Geometric knowledge and experience in space make them an excellent partner for future cooperation in both blockchain and space initiatives.”
The dogecoin-funded trip was announced on Sunday by Geometric Energy Corporation, verified by SpaceX’s communications team in an email to reporters.
The mission’s financial worth has not been revealed.
Unizen, a smart exchange platform, and ZenX, a decentralized finance incubator, announced on Wednesday that they are working on DOGE-1, a 40-kilogram (88-pound) CubeSat that will provide a new use case for cryptocurrencies.
The CubeSat will go to a “stable lunar orbit” to collect lunar-spatial intelligence from sensors and cameras before returning to GEC for examination.
To bring the concept to completion, SpaceX worked with two blockchain businesses, Unizen and ZenX.
The CubeSat, which weighs 40 kilos, will be put into orbit as a novel use case for the crypto space.
The CubeSat will gather data using various technologies, including sensors, cameras, and mirrors, and then transmit it back to Earth.
The DOGE-1 CubeSat will launch ahead of NASA’s CAPSTONE, which was meant to be the first CubeSat to circle the moon.
However, NASA’s launch has been repeatedly postponed, putting the DOGE-1 ahead of the CAPSTONE.
The news comes at the same time that SpaceX breaks a new record for its Falcon 9 rocket series.
SpaceX landed the Falcon 9 rocket’s booster for the tenth time after launching another batch of Starlink satellites into orbit — a milestone Musk has previously highlighted as critical in the company’s progress toward recycling its rockets.
“SpaceX is going to put a literal Dogecoin on the literal moon,” Musk tweeted.
Dogecoin (DOGE) rocketed to notoriety early this year, owing in part to SpaceX creator Elon Musk, who extolled the benefits of the joke coin and even claimed to be working with its developers to increase its efficiency.
When more mainstream people started coming into cryptocurrencies, the Musk-inspired spike may have contributed billions to DOGE’s market value.
This satellite launch, which Musk claimed was the first crypto (DogeCoin) to reach the moon, is essentially an elaborate PR ploy designed to attract crypto heads while also raising exposure and buzz for the crypto community, which is a win for Musk and the crypto community.
“Having formally transacted using DOGE for a contract of this size, Geometric Energy Corporation and SpaceX have cemented DOGE as a unit of account for lunar business in the space industry,” stated Geometric Energy’s Chief Executive Officer Samuel Reid.
Elon Musk’s thoughts on Dogecoin.
Cryptocurrencies are believed to represent the future of money, and Musk did allude to sending Doge to the moon on April 1st, but it was April Fool’s Day, and Dogecoin is a meme currency, so who knows?
Elon Musk has been a huge backer of Dogecoin, which has helped the parody coin gain popularity.
There was a rationale for backing the first mem coin.
This was because many individuals at his automotive firm Tesla and space satellite company SpaceX use Dogecoin.
DOGE has shown to be a rapid, dependable, and cryptographically secure digital money that can and will finance a commercial Moon expedition in full when traditional banks cannot or will not. It has been adopted as the unit of account for all lunar commerce between SpaceX and Geometric Energy Corporation. It establishes a precedent for future lunar and Mars missions.
The crypto-world began wishing Elon Musk for becoming the “Dogefather” on Father’s Day (June 20th, Sunday).
Some Amusing Tweets
Elon Musk’s remark on Dogecoin sparked interest in the cryptocurrency.
It’s no secret that Elon Musk, Tesla’s co-founder and CEO, has been a vocal proponent of cryptocurrencies.
— Elon Musk (@elonmusk)
In February, his business purchased around $1.5 billion in Bitcoin.
Tesla is now the first carmaker to accept Bitcoin for payment, making it the first to do so.
It’s no wonder, therefore, that when Elon initially tweeted about Dogecoin, the coin gained traction:
Many people took notice of this meme-based cryptocurrency and acted on it.
Many more high-profile persons have taken note of this meme-based cryptocurrency. They have contributed to its popularity by tweeting photos supporting the crypto coin.
Elon Musk was joined by American musician Snoop Dogg, who mentioned him in a tweet titled ‘Snoop Doge.’
— Snoop Dogg (@SnoopDogg)
DOGE soared in April following a series of cryptic tweets.
In March, DOGE had a somewhat steady ride, holding about $0.050 per coin.
Then, this week, Elon posted another snap of DOGE.
— Elon Musk (@elonmusk)
Dogecoin’s Journey
In December 2013, two developers, Billy Marcus and Jackson Palmer created Dogecoin to mock cryptocurrencies.
Dogecoin comes from the meme “Doge,” which features a Shiba Inu, a Japanese dog, and text depicting the dogs’ imaginary thoughts.
Dogecoin became the second most-tipped currency just a week after its inception, thanks to an outpouring of support from Redditors.
Its website also attracted a million visitors.
The trading volume of Dogecoin temporarily surpassed that of Bitcoin in 2014.
Market capitalizations, on the other hand, were opposites. Dogecoin reached a high of $0.017 in 2018, with a market valuation of $ 2 billion!
Then Elon Musk, the Dogefather, began tweeting about Dogecoin, propelling its price higher and quicker than any rocket company SpaceX has launched.
Investors raced to acquire the coin in 2020 based on whatever Musk said, from memes to surveys.
Finally, Musk’s jaw-dropping announcement of Doge-1 to the moon in 2021!
What began as a dumb joke has become the crypto market’s most significant buzz in recent years.
What began as a silly joke has become the crypto market’s biggest buzz in recent years.
As they name it, A Doge cult has emerged, with Elon Musk as its most prominent follower.
But how long will it be able to survive on these nudges?