- Elon Musk has yet again shown support for Dogecoin as its tunnel transport company, The Boring Company begins DOGE acceptance.
- The Loop rides, which are currently free will charge $1.50 for single rides when it starts collecting payment for its service.
Elon Musk’s infrastructure and tunnel construction services company, The Boring Company, has provided a means for customers to pay for Loop rides with Dogecoin. Loop, the company’s Las Vegas transit system, is an underground public transportation system. The transport system is all-electric and transfers passengers from one place to another without intermediate stops. The Boring Company uses Tesla vehicles for its operations, but humans drive the cars. Although, the tunnel transportation services provider said it would automate driving and increase the traveling speeds in the future. For now, Loop moves at about 35 mph.
The Boring Company unveils Dogecoin payment
The Boring Company announced Dogecoin as the new payment method as it opened its first loop station outside the Las Vegas Convention Center. Expanding further, the company hopes to spread to over 50 stations on the Vegas Strip. The Boring Company seeks to expand to resorts, Casinos, and Allegiant Stadium.
For now, The Boring Company does not charge for rides on Loop. However, the company has plans to cancel free rides and start charging soon. When the company begins collecting payment for Loop rides, single rides will cost $1.50 while day passes will cost $2.590. The Boring Company said riders who prefer not to pay with Dogecoin could make payments using traditional credit cards and USD.
The new Resorts World Loop station will not connect at the underground level with the existing stops at the Convention Center. Instead, it will connect with other Loop stops like Resorts World in the future as the company expands across Vegas. Guests at Resorts World can travel from the Convention Center to Riviera. The underground transportation system plans to move roughly 400 passengers from Resorts World in an hour.
A spokeswoman for the Las Vegas Convention and Visitors Authority, Lori Nelson-Kraft, explained:
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.
Currently, only one tunnel connects Resorts World to the Convention Center campus. As such, traffic will flow in one direction at a time.
Elon Musk Displays Continued Support for DOGE
It is no surprise that The Boring Company chose Dogecoin among other cryptocurrencies. The company’s founder, Elon Musk, is a colossal DOGE supporter and is always promoting the crypto asset. Dogecoin started as a joke in 2013 but skyrocketed in recent years due to Musk’s influence. The crypto assets grew about 4,000% in 202.
More recently, a new report states Dogecoin is used in illicit activities like human trafficking and child sexual abuse. A crypto risk manager, Elliptic, explains connections between Dogecoin and illegal activities. Furthermore, the report identifies different Dogecoin addresses that have received over $40,000.