American aerospace manufacturing company SpaceX plans to launch the ‘DOGE-1 Mission to the Moon’ in the first quarter of next year, for which the Elon Musk-founded company will accept dogecoin, a meme-inspired cryptocurrency, as payment.

Geometric Energy Corporation (GEC), intellectual property and logistics firm announced the mission on May 11, with the statement not revealing the dogecoin-funded mission’s financial value, reported Reuters. "This mission will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce", said Tom Ochinero, the SpaceX Vice President of Commercial Sales, in the statement released by GEC, Reuters understands.

Also read | What can you do with Dogecoin? Fund a satellite mission to moon

Elon Musk, the founder and a chief engineer of SpaceX in April said on Twitter that he was going to put a “literal Dogecoin on the literal moon”. Following Musk’s remarks about dogecoin, calling it a “hustle” during his guest-host spot on the comedy TV show ‘Saturday Night Live’ Dogecoin, it suffered a loss of more than a third of its price on May 11. But his tweets this year changed the once-insignificant digital currency into something incredible.

Also read | How bitcoin, Dogecoin dance to the tune of Elon Musk's tweets

The electric car manufacturer, Tesla Inc, also founded by Musk, in February, said that it had bought $1.5 billion worth of bitcoin and would soon and accept it as a medium for payment for its cars, reported Reuters.