Meme coin Dogecoin (DOGE) achieved a stupefying level of popularity earlier this year. In large part, this was due to Elon Musk’s apparent fondness for the asset that had started as a joke alternative to Bitcoin but later achieved viral success.
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In a plot twist no-one saw coming, SpaceX announced in May that it would put its rocket where its CEO’s mouth was and launch the DOGE-1 CubeSat into a stable lunar orbit.
DOGE-1 CubeSat is a miniaturized satellite research mission in collaboration with Geometric Energy Corporation, one that’s due to ride-share aboard a SpaceX Falcon 9 rocket and deploy in Q1 2022.
As well as gathering lunar-spatial intelligence data via its onboard sensor arrays, the 40kg CubeSat will be equipped with a screen and camera to display and broadcast NFTs (crypto-based non-fungible tokens offering verifiable digital ownership of provably scarce items) to be auctioned off during the mission.
Amazingly, DOGE-1 will become the first-ever commercial lunar payload in history to be entirely funded with DOGE. This provides a fast, reliable, and cryptographically secure alternative to traditional finance that will become the unit of account for all future lunar ventures between the two companies. Once and for all, a project that fulfills crypto’s famous price action battle cry by quite literally sending DOGE “to the moon.”
Commenting at the time, GEC CEO Samuel Reid said: “Having officially transacted with DOGE for a deal of this magnitude, Geometric Energy Corporation and SpaceX have solidified DOGE as a unit of account for lunar business in the space sector.”
“This mission will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce,” added SpaceX’s Vice President of Commercial Sales Tom Ochinero. “We’re excited to launch DOGE-1 to the moon!”
DOGE-1’s Crypto Deployment
To help build out and deploy the crypto side of the DOGE-1 mission, GEC will combine the CubeSat expertise and satellite data services of its Geometric Space Corporation subsidiary with Unizen’s cryptocurrency liquidity and exchange solution. It will utilize its ZenX crypto startup incubator. ZenX will help accelerate GEC’s XI Protocol development, connecting its space infrastructure to crypto networks.
Discussing the initiative, CEO of Unizen Sean Noga said: “Geometric Energy Corporation is a truly innovative and ambitious team with an impressive vision for the future and a deep belief in ever-expanding use cases.
“XI Protocol is a groundbreaking evolution in how space infrastructure connects to distributed ledger technology. Initially, this technology will enable satellite-based, space display screens (driven by tokenized claims) and the untapped realm of Web3 connected data reporting rewards on SATCOM communication networks. Unizen is thrilled to both incubate and onboard GEC’s XI Protocol to our strategic partners.”
GEC’s incubation of its XI Protocol at ZenX offers a pioneering example of scientific and tech team collaboration, leveraging a unique crypto use case to advance the field of space exploration.
GEC CEO Samuel Reid also responded to the partnership agreement, stating that “Geometric Energy Corporation is proud to partner with Unizen for pushing the boundaries of distributed ledger technology in space, and grateful for its ongoing collaboration to help bring us to the moon!”
From Meme Coin to Mooncoin
With the mission already demonstrating the ability for cryptocurrencies like DOGE to finance projects as momentous as a spacecraft launch, both Unizen and GEC are confident that this first-of-its-kind use case will become a major blueprint for other crypto-funded endeavors.
The inaugural space exploration use case for crypto may not be the only record broken by DOGE-1 if it launches within its proposed Q1 2022 window. By doing so, it will achieve a feat that is orders of magnitude more complex than the 1,600 CubeSats deployed to date – which have only been launched into a low Earth orbit of between 100-1,200 miles above the planet’s surface.
NASA’s CAPSTONE was supposed to be the first CubeSat to go to the moon. However, a series of delays have set back its launch date to late March 2022, providing the opportunity for DOGE-1 to become the first-ever CubeSat in history to reach the moon. Not bad for a meme coin.
Disclosure: At the time of publication, Reuben Jackson did not have a position in any of the securities mentioned in this article.
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