Elon Musks’ Dogecoin-funded SpaceX mission is set to “reach the moon” early next year with a satellite created by blockchain companies: Report | Currency News | Financial and business news

Elon Musk

  • Elon Musk’s SpaceX DOGE-1 mission, which was fully funded by Dogecoin, is slated to start early next year.
  • Two blockchain companies will help create a CubeSat, which will be provided by SpaceX FalconX, CoinTelegraph reported on Wednesday.
  • The report said the Cubesat will offer a new use case for cryptocurrencies and will hit the moon.
  • Sign up for our daily newsletter here, 10 things before the opening bell.

According to a media report on Wednesday, Elon Musk’s company SpaceX has teamed up with two blockchain companies to launch its Dogecoin-funded mission to the moon by early next year.

Unizen, an intelligent exchange ecosystem, and ZenX, a decentralized financial incubator, will build the DOGE-1 Cubesat – a miniature satellite that uses cameras, sensors, and mirrors to receive information from space – which, according to a report, will be placed in orbit around the moon by CoinTelegraph.

The Cubesat will be deployed thanks to an introductory agreement with Musks SpaceX FalconX and will offer a new use case for cryptocurrencies thanks to blockchain technology, the report said.

This is the first time that memecoin dogecoin is funding a space mission. Around 1,600 CubeSats have already been launched, but DOGE-1 would be the first to travel up to 250,000 miles, CoinTelegraph said. The mission is on track, but there are still no fixed dates or deadlines, the report says.

Space X, Unizen and DeFi incubator ZenX and the manufacturer Geometric Energy Corp were not immediately available for comment when they were contacted by Insider.

“DOGE-1 could be the first Cubesat in history to reach the moon, which is a major achievement for global space travel,” the companies told CoinTelegraph.

Cryptocurrencies and blockchain technology have taken the world by storm, and people are using both to store medical information, mortgage contracts, processing bond payments, and more. According to CoinGecko, Dogecoin has increased more than 10,000% in the past 12 months.

Musk and Dogecoin had a special relationship over the year as the SpaceX and Tesla CEO’s tweets often helped add value to the coin. He recently said in a recent tweet that in addition to Bitcoin and Ether, he also owns Dogecoin.

Musk first announced in a separate tweet that the Dogecoin mission would take place in May 2022.

Geometric Energy Corp, an intellectual property, manufacturing and logistics company, announced in a press release in May that it had paid Elon Musk’s space company in Dogecoin to fund the mission.

“This mission will demonstrate the application of cryptocurrency beyond orbit and lay the foundation for interplanetary trade,” said Tom Ochinero, SpaceX’s vice president of commercial sales, in a statement.

Comments are closed.