The DOGE developer mints the first-ever NFT on the Dogecoin blockchain. The doge dev inevitable360 shared the news on Twitter.
First-ever NFT on Dogecoin blockchain is minted
According to the details of the transaction, the mint cost only 0.1 DOGE (or $0.0018). The developer said the minting process involved using Sha-256 hash functions.
Costs to mint an NFT: 0.01 Doge
Transfer ownership of NFT's screens soon 🙂 after i recive some feedback from Dogecoin Core Devs to confirm my teory tested live 🙂 pic.twitter.com/4TqGaCwD2z
— inevitable360 (@inevitable360) December 13, 2021
Following his success, inevitable360 received support and interest from other cryptocurrency developers, including Dogecoin founder, Billy Markus. People congratulated him with tips sent with the SoDogeTip bot.
Efficient NFT minting with Dogecoin
NFTs have been in the blockchain space for a while now and a major issue is that they’re not as cheap to create because of Ethereum costs.
NFTs minted on Dogecoin are remarkably inexpensive. They cost only $0.0018 per NFT, which represents a huge efficiency when compared with NFT minting on Ethereum.
Michi Lumin, a Dogecoin core dev, stated on Twitter that:
“You considering making a utility or something so that normal folks can do this? I think you should… I dunno, or integrate it into something so that people can build sites around it.. NFTs without the gas fees and less energy usage. V. nice. Also Doge. Wow.”
Is Dogecoin still a meme coin?
The DOGE currency was created to be a “joke” currency with a doge meme theme. But looking at the recent developments, maybe it is something we should take seriously from now on.
Tesla CEO Elon Musk announced that the automaker will begin accepting dogecoin (DOGE) for merchandise purchases.