Dogecoin, one of the most well-known names in the crypto sector, has achieved significant progress with the creation of the first-ever NFT on the blockchain. The project has recently progressed with new use cases to talk of, and a developer has now added NFT minting capabilities to that list. From a ‘joke’ endeavor to a serious player in the space is a big step.
After sharing a screenshot of the transaction on Monday, a developer known on Twitter as Inevitable360 became the first individual to mint an NFT on the Dogecoin network. Inevitable360 made a big impression with this tweet after demonstrating that it is feasible to mint NFTs on a blockchain that is not a smart contracts platform.
First NFT Ever "Minted" on #Dogecoin Blockchain!
How can it be done? Proof on scrrens!
Dogecoin NFT "Minted" Transaction: 19aeaa88859c04a333257f1119a77438ac08feec424c6ad3645a0679c8be9882@dogecoin_devs @JRossNicoll @KBluezr @michilumin @BillyM2k @mishaboar
Opinions please 🙂 pic.twitter.com/XXrjdCXjB6
— inevitable360 (@inevitable360) December 13, 2021
The transaction only cost 0.1 Doge to complete, a pittance when compared to the cost of minting NFTs on other blockchains. The developer went on to say that they were waiting for Dogecoin Core devs to certify that what they had provided worked.
First NFT Ever "Minted" on #Dogecoin Blockchain!
How can it be done? Proof on scrrens!
Dogecoin NFT "Minted" Transaction: 19aeaa88859c04a333257f1119a77438ac08feec424c6ad3645a0679c8be9882@dogecoin_devs @JRossNicoll @KBluezr @michilumin @BillyM2k @mishaboar
Opinions please 🙂 pic.twitter.com/XXrjdCXjB6
— inevitable360 (@inevitable360) December 13, 2021
The ability to mint NFTs on a blockchain like the Dogecoin blockchain would undoubtedly change the game because it will be substantially cheaper to deal in Doge. Furthermore, Dogecoin’s millions of supporters will have new use cases to work with beyond holding their Doge and conducting transactions with it. The digital asset has almost completely shed its reputation as a prank, and this increased functionality could be the final step in that process.
When it comes to functionality, Dogecoin is on its way to becoming a key player in the space. Tesla is the latest company to accept Doge payments after CEO Elon Musk’s recent announcement that the vehicle manufacturer would begin taking the digital currency for items.
Musk, also known as the Dogefather, has been an outspoken promoter of Dogecoin. After tweeting about it in early 2021, the CEO caused the token’s price to spike many times. This time was no exception, as the Tesla news propelled the price of Dogecoin up by nearly 30% after the tweet went live.
Tesla will make some merch buyable with Doge & see how it goes
— Elon Musk (@elonmusk) December 14, 2021
Tesla consumers would be able to use Dogecoin to purchase items such as miniature Tesla vehicles and T-shirts. This has been a long time coming since the CEO initially publicly proposed the notion of accepting Doge payments in May. Although the focus was on accepting Doge for its electric vehicles, paying for stuff with the meme coin is a start, given Musk’s tweet implied the automaker was conducting a test run with its merchandise.
