The promoters of Dogecoin are trying their best to improve trading volumes in the market. To promote mass adoption of the coins, the company is working on NFT, which are called non-fungible tokens, to boost the volumes. Along with that, they are also working on an Ethereum to Dogecoin bridge so that many users will be able to use the meme coin.
Billy Markus goes aggressive on DOGE
The co-founder of DOGE, Billy Markus, said that the company is working on the Dogecoin-Ethereum bridge, and this will enable the asset to be integrated with other NFT platforms. In this manner, Ethereum based platforms like OpenSea will allow non-fungible purchases with Dogecoins. According to the promoters of DOGE, there is great demand for buying NFTs in the crypto industry and using DOGE for NFTs will improve its volumes in the long run.
What does it mean for the users?
After the Ethereum to Dogecoin bridge is finalized, users will be able to transact in NFTs and other decentralized finance on the Ethereum blockchain and pay using DOGE. In this way, DOGE users will have additional utility with this bridge. As there are good volumes in the Ethereum platforms, DOGE will get good visibility, and this can improve trading volumes by a substantial margin.
According to market analysts, DogeLabs is working on the bridge, and it is likely to be completed shortly. This is a good advantage for Dogecoin users as they will be able to use the coins in a platform that has decent liquidity. Apart from that, the value of DOGE is also likely to get a boost with this move from the promoters. The crypto asset has already given good returns for investors in the last few months, and they can expect better performance in the near future.