Space Exploration Technologies Corp., also known as SpaceX, will launch the “DOGE-1 Mission to the Moon” by the beginning of 2022, through its Falcon 9 rocket.
According to Geometric Energy Corporation (GEC), the DOGE-1 Mission to the Moon would be the first-ever commercial lunar payload with payments entirely in DOGE, as Elon Musk’s company, SpaceX agreed to the deal after accepting the meme-inspired cryptocurrency as full payment for launching the project.
Although the value of Dogecoin, that was paid for the project wasn’t revealed, DOGE-1 will fly a 40-kilogram cube satellite as a payload on the SpaceX’s Falcon 9 rocket, with Geometric Energy Corporation saying its payload “will obtain lunar-spatial intelligence from sensors and cameras on-board with integrated communications and computational systems.”
SpaceX, founded in 2002, for the purpose of making space transportation cheaper to enable the colonization of Mars, is focused on aerospace manufacturers and space transportation services companies.
In a statement, SpaceX vice president of commercial sales Tom Ochinero mentioned that DOGE-1 “will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce.” He continued, “We’re excited to launch DOGE-1 to the Moon!”
SpaceX’s decision was not announced out of the blue because through a tweet he made on April Fools’ Day, Musk, revealed that his company was going to “put a literal Dogecoin on the literal moon.”
The latest development follows Elon Musk’s epic appearance on the popular American comedy program, Saturday Night Live (SNL), this weekend.
While the SpaceX and Tesla CEO literally promoted DOGE to the audience, the value of the meme cryptocurrency dropped by more than 30% in the aftermath. Musk had tweeted before the show that cryptocurrency investors must exercise caution while investing in the market.
At the time of writing, though, DOGE has made a slight recovery, trading around $0.55 at the time of writing. It remains the fourth-largest cryptocurrency with a $71 billion market cap.