The Dogecoin believers were disheartened after Elon Musk made no solid mention of his favorite cryptocurrency on Saturday Night Live this morning. However, isn’t that what Musk is known for? Unpredictability is Tesla CEO’s trademark. And to keep up with the reputation, SpaceX made a stirring announcement through Twitter, just a few hours ago. Geometric Energy Corporation (GEC) has announced the first-ever commercial lunar payload project named DOGE-1 Mission to the Moon, to be fully funded by the Dogecoin.
“Having officially transacted with DOGE for a deal of this magnitude, Geometric Energy Corporation and SpaceX have solidified DOGE as a unit of account for lunar business in the space sector,” said Geometric Energy’s Chief Executive Officer Samuel Reid.
Under the project, SpaceX Falcon9 Rocket will launch the miniature satellite named Cubesat, weighing 40 kg, in early 2022.
“This mission will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce,” said SpaceX Vice President of Commercial Sales Tom Ochinero. “We’re excited to launch DOGE-1 to the Moon!”
The financial value of the mission is still undisclosed. However, the crypto investors are already predicting that the decentralized digital currency will soon outperform the value of $1 predicted by the end of 2021.
Earlier after Elon Musk called Dogecoin “a hustle” on Saturday Night Live, the market immediately witnessed a contraction in the price of the Dogecoin plummeting the value to as low as $0.43 from $0.66 on May 9, 2021. Since January 2021, the meme cryptocurrency has recorded a massive upsurge in market capitalization, rewarding the investors with profits of more than a colossal 20,000%.
DOGE to fund all lunar missions between GEC and Elon Musk’s SpaceX
The reason why GEC decided to fund the SpaceX lunar mission, as stated in its statement, is the reliability, speed and safety that DOGE has displayed in the past few months. It went on to say that DOGE can operate on transactions that even traditional banks cannot. According to Geometric Energy Corporations, the currency is sophisticated enough to fund the “all” commercial interplanetary lunar mission between SpaceX and GEC.
Three tech corporations have been named to collaborate with Geometric for the hardware and software support of the mission- POINTBLANK LLC, Mimir Solutions, and Iteration Syndicate (ITS).