Dogecoin Labs puts on its business hat to build a full-stack DOGE economy

Dogecoin Labs has been formed with the Dogecoin Foundation to consolidate the products, intellectual property and development teams scattered across the Dogecoin world into one independent organization, the company announced Tuesday. The new company will own and operate three flagship products: the MyDoge wallet, the DogeOS app platform and Such App, a merchant-payments tool, with assets and talent contributed by both the Dogecoin Foundation and House of Doge.

Dogecoin ranks among the largest and most recognizable cryptocurrencies, with deep liquidity, millions of holders and one of crypto’s most active communities, yet the number of products and businesses built on DOGE remains small relative to that audience. Dogecoin Labs is led by CEO Jordan Jefferson, founder of MyDoge and DogeOS, and intends to develop wallets, payments, commerce, trading, DeFi, gaming, AI and social apps. “No other digital asset has Dogecoin’s combination of liquidity, community and cultural reach, and its potential has barely been tapped,” Jefferson said, adding that the community has chanted “DOGE to $1” for years and that the goal now is “to build the economy that ambition calls for.”

The initiative builds on recent groundwork. DogeOS opened its public testnet on Sept. 30, providing developers with an Ethereum-compatible environment for Dogecoin applications, while MyDoge, which grew past 500,000 users without paid acquisition, rolled out a V3 update connecting the wallet to those applications. Such App’s merchant rails are designed to link developers, consumers and businesses, while the Dogecoin Foundation will continue its stewardship, open-source support and advocacy as Dogecoin Labs handles commercial product development.

The DogeOS application layer is slated to introduce hypercasual mini-games throughout the rest of the year using the DOGE network for their reward system. Published by PlaysOut, approximately 15 Doge-themed games spanning various genres will be rolled out by the end of the year, with the first title expected in August. The games will be playable through the MyDoge wallet and the PlaysOut mobile app.

The reorganization came during a soft stretch for DOGE. The token traded around $0.084 on Tuesday, up 3.9% on the day for a roughly $13 billion market cap, but was down about 14% over the past month and off roughly 88% from its May 2021 record. Institutional developments have been mixed: a Dogecoin Foundation-backed 21Shares DOGE ETF launched on Nasdaq this year, while Bitwise later shut its own Dogecoin fund, citing low demand and a need to “optimize its product offering.”