A Dogecoin developer claimed to be the first person to mint the first NFT on the Dogecoin blockchain on Monday.
The Doge developer whose twitter handle is “inevitable360”, shared the transaction details of the DOGE-powered non-fungible token (NFT).
According to the developer, the cost to mint the NFT on the Dogecoin blockchain was 0.01 DOGE worth just $0.0018.
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
The developer tagged Dogecoin core developers and co-creator Billy Markus in the Twitter post and said he would share how to transfer NFT ownership after he received feedback.
The developer described the minting process, saying he used SHA-256 hash functions to mint the NFT and store it on a Checksum or a small size block data which is often derived from another computational block.
The ownership of the asset can be cross-verified by authenticating the Checksum embedded in the digital asset
First NFT Ever "Minted" on #Dogecoin Blockchain!
How can it be done? Proof on scrrens!
Dogecoin NFT "Minted" Transaction: 19aeaa88859c04a333257f1119a77438ac08feec424c6ad3645a0679c8be9882@dogecoin_devs @JRossNicoll @KBluezr @michilumin @BillyM2k @mishaboar
Opinions please 🙂 pic.twitter.com/XXrjdCXjB6
— inevitable360 (@inevitable360) December 13, 2021
The developer’s tweet got the attention of various prominent figures in the Dogecoin community including its co-founder Billy Markus. Some of the Doge owners who found the tweet tipped the developer in DOGE and asked how they can mint their own NFTs on the meme-inspired cryptocurrency’s blockchain.
Although any utility or ownership transfer functionality is still in a “development phase”, the response was largely positive from the DOGE community, with a general consensus that Dogecoin’s low fees for minting an NFT could be a game-changer for the space. Non-fungible tokens, or NFTs, exploded in popularity during 2021, but its users stuck to the Ethereum blockchain for most transactions.
“You considering making a utility or something so that normal folks can do this? I think you should…or integrate it into something so that people can build sites around it,” commented Dogecoin core developer Michi Lumin.
DOGE’s price surged 20% on Tuesday after Elon Musk tweeted that Tesla Inc would begin accepting Dogecoin as payment for merchandise.
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