A month following the successful Bitcoin Ordinals collection, the Runestone project made headlines by airdropping tokens to eligible wallets. Not to be outdone, a Dogecoin Ordinals project recently hosted its own airdrop in celebration of reaching a significant milestone in the crypto world.
After the initial Doge Runestone airdrop, the collection of 30,272 Dogecoin NFTs quickly entered the secondary market, generating a total trading volume of 80,142 DOGE, equivalent to nearly $15,000. Currently, the floor price for a Doge Runestone stands at 170 DOGE, approximately $32 on the Ordinals Wallet Dogecoin marketplace.
The team behind the Doge Runestone drop, known as Robo AI, revealed plans to develop the DRC-420 protocol on Doginals, opening doors to new and innovative forms of Dogecoin-based media. This groundbreaking initiative is heralded as the “first of its kind collection” on Dogecoin’s blockchain.
Inspired by the Ordinals inscription trend, Doge Runestone draws its name from the Runestone collection of 112,383 collectibles airdropped to a select group of wallets. The launch of the DRC-20 protocol in May 2023 significantly expanded opportunities for creating fungible tokens on the Dogecoin blockchain.
With over 150 Dogecoin-themed NFT projects currently in existence, the crypto community is witnessing a surge in creativity and innovation within the Dogecoin ecosystem. Furthermore, the integration of Ordinal Inscriptions into the Ethereum network through ETHscriptions showcases the widespread impact of this trend.
Notable figures in the NFT and crypto space, such as pseudonymous historian Leonidas, have expressed excitement over airdrop initiatives that mirror the success of projects like Runestone. Embracing the concept of a “free and fair model” for token distribution, Leonidas welcomes the replication of such models by other projects, emphasizing the importance of inclusive and innovative practices.
As the crypto industry continues to evolve, collaborations and initiatives like the Doge Runestone project exemplify the growing potential and diversity within the NFT and blockchain sectors. Stay tuned for more developments in the exciting world of cryptocurrencies and non-fungible tokens.
