DOGE to function on top NFT marketplaces such as OpenSea. As revealed by Billy Markus while talking on a proposed Dogecoin-to-Ethereum bridge.
Additionally, Dogecoin co-founder Billy Markus looks on nonfungible tokens (NFTs) and an Ethereum-to-Dogecoin bridge possibility.
This targets helping get mass adoption of the meme coin.
Sept. 30 tweet reveals Markus expressing the importance of completing the Ethereum-Dogecoin bridge. While, noting that the asset can integrate with top Ethereum-based NFT platforms like OpenSea.
Of course, this will enable non fungible purchases with dogecoin.
“Markus said that there is “high demand” 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 community!”
— Mr. Whale (@CryptoWhale) September 29, 2021
Of course, this new project development will help user to send the memecoin from the Dogecoin blockchain to the Ethereum blockchain. Also, assist them transact with the asset in sectors like decentralized finance (DeFi) and NFTs through ERC-20 dogecoin token contracts.
Additionally, The bridge will bring about additional utility for memecoin. Also, it can provide a fun alternative to Ether which dominates NFT payments. More so, piling up transaction levels and usage through circulation in several DeFi protocols on Ethereum.
On June 4, during an interview with podcaster Lex Fridma, the Ethereum co-founder and DOGE investor Vitalik Buterin talks on the bullish potential that an Ethereum-bridge.
DOGE Talks Detaling
“If DOGE wants to somehow bridge to Ethereum, and then people can trade DOGE…”
“…thousands of times a second inside a loop ring, then that would be amazing.”
Markus responds to a question asking if the bridge is in the works, saying
“people are working on the DOGE-ETH bridge, yes,”. However, he didn’t mention any names.
Mivibg futher, DogeLabs, a collaboration of developers handling Dogecoin chain makes an announcement on June 18. Saying that it will explore the idea of building a Doge-ETH bridge that will permit hodlers to use the asset in Ethereum-based DeFi staking.
“DogeLabs also stated that it was looking to the development of a DOGE burn wallet where developers can build…”
“applications that send a small portion of memecoin to a public burn wallet to assist in building a deflationary mode around DOGE inflationary growth.”
Conclusively, Dogecoin Foundation demands the “Dogecoin 2.0” project change its name and hires brand protection lawyers. This is to help “protect the Dogecoin community from being misled and to protect the Dogecoin name from possible misuse.”
