Doge Runestone Airdrop Ignites Innovation, Fuels Growth in Dogecoin Ecosystem

Following the successful airdrop of Runestone, a Dogecoin Ordinals project, "Doge Runestone," recently conducted its own airdrop, commemorating the milestone. The airdropped tokens, representing 30,272 Dogecoin NFTs, have generated significant trading activity on the secondary market, with a total trading volume of over $15,000. Doge Runestone aims to foster innovation in Dogecoin-based media through the development of a novel protocol, DRC-420, empowering users to explore new possibilities on the Dogecoin blockchain.

Doge Runestone Airdrop Sparks Innovation and Growth in Dogecoin Ecosystem

In the wake of the trailblazing Bitcoin Ordinals collection, Runestone, that airdropped tokens to select wallets, the Dogecoin Ordinals project has launched its own airdrop, marking a significant milestone for the Dogecoin blockchain.

Following the initial Doge Runestone airdrop, the collection of 30,272 Dogecoin NFTs has garnered notable attention in the secondary market, with a cumulative trading volume surpassing 80,142 DOGE, equivalent to approximately $15,000. The current floor price for a Doge Runestone stands at 170 DOGE, valued at roughly $32 on the Ordinals Pocket Dogecoin marketplace.

Robo AI, the team behind the Doge Runestone drop, has revealed plans to develop a DRC-420 protocol on Doginals, aimed at enabling groundbreaking forms of Dogecoin-based media. A project advisor described this initiative as the "first of its kind" on Dogecoin's blockchain.

Inspired by the Ordinals inscription trend, Doge Runestone takes its name from the Runestone collection of 112,383 collectibles airdropped to a carefully curated group of wallets.

Launched in May 2023, the DRC-20 protocol will facilitate the creation of fungible tokens on the Dogecoin blockchain. Data from Doginal Explorer indicates the existence of roughly 150 Dogecoin-themed NFT projects.

Earlier this year, in an innovative experiment on the Bitcoin blockchain, a pseudonymous Dogecoin enthusiast successfully inscribed a playable version of the classic video game Doom onto the Dogecoin blockchain using the Doginals protocol. Ordinal Inscriptions have also made their way into the Ethereum ecosystem with ETHscriptions.

Leonidas, a pseudonymous NFT historian and co-creator of the Runestone project on Bitcoin, has expressed support for airdrops that adhere to their intended purpose.

"Runestone established a new template for token distribution, which we refer to as the 'Free and Fair' model," Leonidas explained to Decrypt. "When I see other projects emulating this free and honest model, I applaud it. The more airdrops that follow Runestone's example, the better."

Edited by Ryan Ozawa.