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Why have a title all about DOGE and then start talking about NFTs straight away: is there something going on? The reality of NFTs is that they are incredibly open to criticism because they are incredibly open to misuse. An NFT - Non Fungible Token - is essentially a small contract with a pretty receipt. Which, advocates of NFTs will tell you, is a very bleak, very black and white, description of one of the most exciting areas of digital assets in the last year or so. Which is just a polite way of saying NFTs are the Wild West.
Non Fungible Tokens have something deeply in common with DOGE. They are, essentially, memes on the Blockchain Ledger. To be fair to NFTs they do add something that basic DOGE lacks: underpinning every NFT is a Smart Contract. Given that the complexity or richness of most NFT Smart Contracts amount to very little more than issuing a shiny looking receipt, that underpinning is wasted. Just for a moment pause and think what made DOGE such an important feature of the entire Crypto landscape.
DOGE was created by In late 2013, Dogecoin was released after being created as a joke on the meme by software engineers Billy Markus and Jackson Palmer to make fun of the wild speculation on Cryptocurrency. The joke included a whole range of ideas, not simply that of making fun of Bitcoin but also of reaching a wider audience. In 2013 it also provided a proof of concept demonstration, in the real- world of the need for a considered approach to connecting to real world economies when China forbade Chinese Banking permissions to invest in digital currencies. DOGE collapsed by 80% in value. That made DOGE something of a canary in the mine: pointing towards what can happen with more 'serious' coins when they collide with the World.
But DOGE was never really just a currency. There was always an element of 'meme' about DOGE. The value is not strictly the investment that comes from finance. Part of the underlying value of DOGE was revealed by the December 25, 2013 theft by a hacker of millions of coins from the online wallet platform Dogewallet. It inspired "SaveDogemas" which had millions of coin to cover the losses of people whose coin had been stolen. Revealing a deeper sense of who the DOGE community is: people who see nothing wrong in mutual aid. In January 2014, the trading volume of Dogecoin briefly surpassed that of Bitcoin and all other crypto-currencies combined. Which, again, reveals something about Communities.
Which at the tail end of a Global Pandemic is something that is going to be, however briefly, of utmost importance.
Like it or not, 2022 is going to have a real world adjustment to the transition from a Pandemic Global Economy to a Postpandemic Global Economy. That transition is going to be seen in canary currencies such as DOGE. Given that SpaceX announced a rideshare mission to be financed by DOGE, there is a real world connection that feeds directly into the future oriented ambitions of people. Subsequently -August 14, 2021 - the Dogecoin Foundation announced the reestablishment of the Dogecoin Foundation (est 2014), with renewed focus on supporting the Dogecoin Ecosystem, Community and promoting the Dogecoin Blockchain. However briefly, in 2022 that renewal will catch the Public Imagination.
How does this connect to NFTs? Recall that NFTs are underpinned by a smart contract and are, generally, being presented as digital images which can be called, uncharitably, a pretty receipt. Without the technical infrastructure that surrounds minting NFTs, DOGE has informally supported the same sort of behaviours for almost a decade. The DOGE Meme is possibly the strongest off-Blockchain NFT in any Crypto based community. That is not to say that DOGE has all the checks and balances that an NFT have. But looking at the DOGE community gives an insight into the expectations of what those smart contracts should be implementing. The real world adjustments to Postpandemic Global Economy has the potential for the harsh imposition of highly competitive conditions onto NFTs. The harshest condition being one of
There are a lot of NFTs that lack the quality of Gallerist's Art Works. While NFTs have benefitted from novelty there is a limit to what will be tolerated. Just as with DOGE, people in the real world look for community connection. With the Ren Project enabling Dogecoin (renDOGE) to operate on the Etherium (ETH) Blockchain, there is the potential for DOGE to become the currency of choice, however briefly, as a currency for driving the minting of NFTs. Particularly if there is a harsh adjustment between the Pandemic and Postpandemic Global Economy. DOGE has always been associated with the communicative power of memes and that is the forte of Artists. That connection is likely to bring a reality check to NFTs that will be both a part of NFTs maturing as digital assets and as a change to the Postpandemic Global Economy. NFT Mills that churn out hundreds and thousands of NFTs with little creative content might well find themselves locked into a struggle to genuinely develop digital art that is more than a receipt for crypto received. Which, inevitably means they need to learn about what changes in DOGE value means.
Because DOGE is not just a cryptocurrency. The Thailand Government have restricted or banned digital assets "with no underlying value or purpose" which caused a flash crash in DOGE. Which is the canary in the mine: giving an indication of the future direction for cryptocurrencies more generally. DOGE, being strongly linked to the cultural artefacts of memes, and NFTs needing to find "underlying value or purpose" in order to avoid becoming a short lived fashion, presents a unique scenario in which DOGE might just be a good indicator for the underlying health of NFTs as investments.
One of the ways to keep up with the fluctuations in DOGE is to check the trade screen at . There is no need to register to see what is being traded, but registration does have benefits. Such as getting Free Crypto from Mystery Boxes. It might not suit everyone. If you are intimidated by charts, take a deep breath before visiting some parts of because it dives deep and reveals much. Take it one step at a time. One spot a day. With a
