DOGE co-founder sets sights on Ethereum bridge and NFTs for mass adoption
DOGE co-founder sets sights on Ethereum bridge and NFTs for mass adoption
Billy Markus has talked up a proposed Dogecoin-to-Ethereum span so that DOGE can exist used on top NFT marketplaces such as OpenSea.
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Dogecoin (DOGE) co-founder Billy Markus has set up his sights on nonfungible tokens (NFT) and an Ethereum-to-Dogecoin bridge to help bring about mass adoption of the meme money.
In a Thursday tweet, Markus emphasized the importance of completing the Ethereum–Dogecoin span so that the asset could exist integrated with top Ethereum-based NFT platforms such as OpenSea, enabling nonfungible purchases with DOGE.
Markus said that there is "loftier need" to purchase NFTs within the crypto community and that enabling NFT purchases with DOGE "greatly increases its utility."
DOGE being implemented into the NFT ecosystem would be a huge benefit to the customs!
— Mr. Whale (@CryptoWhale) September 29, 2022
The development of a Dogecoin–Ethereum bridge would enable users to ship DOGE from the Dogecoin blockchain to the Ethereum blockchain and transact with the nugget in sectors such equally decentralized finance (DeFi) and NFTs via ERC-20 DOGE token contracts.
The bridge would provide extra utility for DOGE, as it could provide a fun alternative to Ether, which dominates NFT payments, while besides ramping upwards transaction levels and usage via circulation in diverse DeFi protocols on Ethereum.
In an interview with podcaster Lex Fridman on June 4, Ethereum co-founder and DOGE investor Vitalik Buterin also emphasized the bullish potential that an Ethereum bridge could have for DOGE, noting that:
"If DOGE wants to somehow bridge to Ethereum, and and so people can merchandise DOGE thousands of times a 2nd within a loop band, so that would be amazing."
In Markus' Twitter thread, he was asked if the bridge is in the works and responded that "people are working on the DOGE-ETH span, aye," without naming names.
Organizations such as DogeLabs — a collaboration of developers focused on the Dogecoin chain — announced on June xviii that it was exploring the idea of edifice a Dogecoin–Ethereum bridge that would enable hodlers to use the asset in Ethereum-based DeFi staking.
DogeLabs also stated that information technology was looking to the development of a DOGE burn wallet where developers can build "applications that send a small portion of Doge to a public burn wallet to assist in edifice a deflationary mode effectually DOGE inflationary growth."
Markus stepped away from working on Dogecoin in 2022 — selling his stash for the equivalent of a used Honda Civic. However, the co-founder is a member of the advisory lath of the Dogecoin Foundation that was reestablished in Baronial. Buterin is likewise a member of the advisory lath.
Related: Crypto is impossible to destroy, says Tesla CEO Elon Musk
The nonprofit foundation supports and advocates for the evolution of Dogecoin while also protecting its trademark from the likes of copycats such as Dogecoin 2.0.
Cointelegraph reported on Sept. ii that the Dogecoin Foundation demanded the "Dogecoin two.0" project change its proper noun and had hired brand protection lawyers to contact the knockoff's developers in a bid to "protect the Dogecoin community from existence misled and to protect the Dogecoin name from possible misuse."
Source: https://cointelegraph.com/news/doge-co-founder-sets-sights-on-ethereum-bridge-and-nfts-for-mass-adoption
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