By
Chimamanda U. Martha
March 13th, 2024
Space travels is a relatively new concept, but one that everyone aspires to be a part of someday. While the dream to travel to space is currently being championed by a number of space development outfits, the barriers to entry are largely a factor that will keep people from benefitting from space.
The cost of traveling to space, according to general estimates is pegged at about $450,000, a figure that is undoubtedly inaccessible to more than 99% of the populace. With the current structure or model by which space travels being unraveled, the dream that is being nursed by the majority may be dashed, unless a new solution is being introduced to change the narrative.
The Space Coin Project and its native token SPJ are designed to solve the challenges of space travel in a decentralized manner.
How Space Coin Project Hopes to Revamp Space Travels
Considering the fact that the first commercial flights to space have been scheduled by Virgin Galactic Holdings Inc (NYSE: SPCE) for 2023, the Space Coin Project has designed a system whereby everyone in the community can stand a chance to own tickets to seats on the spaceships.
The Space Coin project is building up a community of space enthusiasts who would be guided by the Space DAO as they will all work together to shape the future of space travel. Space Coin Project is creating a concierge service for customers to fairly purchase tickets and take a trip to space, and it is doing this so as to act as a stabilizing platform to cushion the proposed rising cost of tickets for space travel as more companies get into space.
Through the concierge service, the Space Coin project will offer users the opportunity to compare and choose between two or more companies it is partnered with in order to pitch tents with the one most soothing for their budget and other conditions.
The Space Coin Project will undergo audits in a bid to prove its security and validity. The working model of the Space Coin project is such that the SpaceDAO will open and release the process for converting SPJ into a space trip. The project plans to offer a Token Offering on SushiSwap, the first avenue by which the token will be made available to the public.
At the point of launch, SPJ will be accompanied by a number of products including staking. For users who stake SPJ and will like to purchase tickets for space travels, the SPJ will be converted to ETH and USDC through the Exchange’s Automated Market Maker, and burn both the SPJ extracted from the contract and those turned in by the user.
Space Coin Project Travel Partners
The Space Coin Project is partnering with the three most prominent space travel companies including Elon Musk’s SpaceX, Virgin Galactic, and Orbital Reef by Blue Origin.
These outfits are very well established and have been conducting advanced testing in line with their overall pursuits. The SPJ token has a total of 5 billion tokens, and the utilities it offers include staking and voting for the DAO.