A bridge between Dogecoin (DOGE) and Ethereum (ETH) must be built and embraced by non-fungible token (NFT) platforms for the memecoin to truly thrive, says Dogecoin co-creator Billy Markus.
Markus tells his 500,000 Twitter subscribers that the completion of a DOGE-ETH bridge in combination with an NFT platform such as OpenSea adopting the token could maximize DOGE’s effectiveness.
“NFT purchasing is high [in] demand with crypto. Allowing for DOGE purchases of NFTs greatly increases its utility.”
This idea was previously proposed by Ethereum founder and Dogecoin advisory board member Vitalik Buterin, who has suggested that a DOGE-ETH bridge could lead to lower transaction fees and higher speeds.
In a June interview with YouTuber Lex Fridman, Buterin said,
“If we have a secure DOGE-to-Ethereum bridge then that would be amazing. And when Ethereum gets its scalability, you would be able to trade with DOGE at extremely low transaction fees and very high speed as well.”
Markus’s remarks come on the heels of billionaire Elon Musk’s previous endorsements and criticisms of the memecoin. Musk has suggested that DOGE should lower its transaction fees.
Dogecoin is trading at $0.21 at time of writing, a 32% decrease from its 30-day high of $0.31, according to CoinGecko.
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