- July 6, 2022
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
Elon Musk-owned Boring Company has enabled Dogecoin (DOGE) payments for Loop. The new payment option will allow customers to pay for rides on the Tesla-powered Las Vegas transit system.
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These rides let people take a ride around the city at 35 miles per hour (mph), according to a report from CNN, in a subway-like transportation surface transportation system. The DOGE payment option was announced last Friday, July 1, 2022, at the Las Vegas Convention Center.
Each ride has three stops and will be offered to the public at zero costs for an unspecified period of time. After, the customer will be able to scan a QR code to pay in DOGE or to use any traditional payments rials.
Rides will sell for $1.50 each, and clients will have the option of purchasing a $ 2.50-day pass, CNN reported. The Boring Company opened the first Loop station and has received authorization for an expansion from Clarke County, Nevada.
The Elon Musk company plans to open over 50 stations on the famous Vegas Strip. This location is famous for its Casinos and resort establishments which include the NFT’s Las Vegas Raiders Allegiant Stadium.
These stations will connect to different locations, such as the Resorts World, said Lori Nelson-Kraft a spokeswoman for the Las Vegas Convention and Visitors Authority, CNN said. The Boring Company expects to transport over 400 passengers an hour via the Convention Center stops.
In addition, the report claims that the rides will operate with free schedules. At the time of writing, a representative from Resorts World, Dana Rutkin, said passengers only need to wait for “a few minutes at most for a ride”.
The report claims that the project only has one available tunnel connecting stations with Resorts World. Therefore, passengers might need to wait in traffic as they advance to their destination.
Elon Musk Doubles Down On Dogecoin (DOGE)
This DOGE payment option for Loop comes at the heels of supporting statements for the cryptocurrency from Elon Musk. The billionaire entrepreneur claims he supports Dogecoin because “a lot of people who are not that wealthy” asked him to.
Musk announced his support for the meme coin back in 2021. At that time, DOGE’s price was about to rally from below $0.010 to an all-time high near $0.75. Despite its recent downside price action, the Tesla CEO claims he is still and will continue to support the meme coin.
The Boring Company’s announcement supports these claims. Expanding on what Loop passengers will experience, Nelson-Kraft said:
It’s still a very swift trip, but it’ll be, hey these five cars go through this direction. When they’re safely at the passenger station, it will then switch directions.
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Musk’s Boring Company is currently developing projects for other U.S. states. Data from The Las Vegas Convention and Visitors Authority, provided by CNN, claims that the transportation system has carried over 400,000 passengers and reportedly has 4.9 out of 5 satisfaction stars on average.
