Dogecoin creator Billy Markus, nicknamed “Shibetoshi Nakamoto,” recently tweeted about several ideas that may bring utility to Dogecoin.
In his first point, he feels it would be beneficial for Dogecoin if it could be widely used in top businesses as a form of currency.
In the second point, he added, integrating the meme currency into tipping would help increase its usefulness.
At the third point, he said that the Dogecoin/Ethereum bridge will enable Doggy to be used with Web3.
things that add utility to #dogecoin:
1) businesses accepting doge
– the more it can be used as a currency, the better2) using doge as a tipping currency
– the most pure use case that brings happiness3) dogecoin / ethereum bridge
– allows doge to be used with web3— Shibetoshi Nakamoto (@BillyM2k) April 24, 2022
Reacting to the Dogecoin pseudonymous creator’s Twitter statement, Elon Musk, the founder and CEO of Tesla, indicated that he agreed with the first two criteria expressed but that the third item is not essential.
First one definitely, second is nice to have and third isn’t needed imo
— Elon Musk (@elonmusk) April 24, 2022
According to Markus, the effort would enable non-fungible token (NFT) markets like OpenSea to accept the cryptocurrency as payment for other digital items featured on the site.
it would unlock the ability for sites like opensea to accept Dogecoin for purchasing using the wrapped dogecoin token – basically a bridge would allow transfer from doge to a wrapped doge token and back to unlock the tech
— Shibetoshi Nakamoto (@BillyM2k) April 24, 2022
Shibetoshi Nakamoto announced that the bridge will enable the conversion of DOGE to wrapped Dogecoin, and vice versa, in order to utilize the meme currency as payment for web 3.0 assets.
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