Cryptocurrency: Dogecoin bankrolls moon mission set to ride on a SpaceX rocket

The news represents one small step for cryptocurrency and a giant leap for Dogecoin. With SpaceX launching the doge-backed mission, will space agencies start cutting deals in crypto?

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Image: GettyImages/Yuriko Nakao / Contributor

Cryptocurrencies have seen a surge of interest as of late and Dogecoin is set to take the hype to the final frontier. On Sunday, the Geometric Energy Corporation announced that SpaceX would launch its lunar DOGE-1 Mission, which the company described as the "first-ever commercial lunar payload in history paid entirely with DOGE." With the announcement, Dogecoin extends its transactional reach beyond terra firma. Could space agencies start cutting cosmic deals in crypto?

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"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," said Samuel Reid, chief executive at Geometric Energy.

As part of the DOGE-1 Mission, SpaceX will launch a 40 kg CubeSat to the final frontier aboard a Falcon 9 rocket. The company said this launch is scheduled for the first quarter of 2022 and the onboard payload will use a suite of sensors and cameras with "integrated communications and computational systems" to "obtain lunar-spatial intelligence."

"This mission will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce," said Tom Ochinero, SpaceX VO of commercial sales. "We're excited to launch DOGE-1 to the Moon!"

The Geometric Energy Corporation said it has selected Dogecoin as the "unit of account" for all of its business with SpaceX and "sets precedent for future missions to the Moon and Mars."

Moon and Mars missions

A number of spacefaring nations have set their sights on our moon and cosmic planetary neighbor. In February, NASA landed the Perseverance rover on the Martian surface after a nearly seventh-month journey through space and a Chinese rover is set to join the craft this year.

In late 2020, China's Chang'e-5 mission successfully collected and returned samples of the lunar surface. As part of the Artemis program, NASA plans to land a man and a man on the moon by 2024.

Private spaceflight market

Competition is heating up in the burgeoning private spaceflight as companies race to deliver regular everyday Earthlings to the final frontier. SpaceX is targeting a launch date "no earlier than the fourth quarter" for its Inspiration4 mission, which the company touts as the "world's first all-commercial astronaut mission to orbit."

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On May 5, Blue Origins announced that auction bidding had opened for a seat aboard the company's New Shepard vehicle with its first crew strapped inside for the journey. Blue Origin plans to launch this mission on July 20 with the winning bidder strapped along for the ride.

Cryptocurrency guide

Cryptocurrencies have seen increased interest in recent months. To help make sense of the various digital coinage, TechRepublic has created a guide to bring people up to speed on the cryptocurrencies, how these digital currencies work and what opening a crypto wallet entails.

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