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NASCAR fans on Reddit use DogeCoin to sponsor Josh Wise

Mar 25, 2014, 9:00 PM EST

Doge

Internet memes, virtual currency and NASCAR. On first glance, they have nothing to do with each other. But they do.

Today, Reddit Racing announced that its fundraiser to sponsor the No. 98 Phil Parsons Racing Ford of Josh Wise was a success. The group was able to reach their $50,000 goal…by raising more than 67 million DogeCoin online.

That brings us to the next question: What in the blue heck is DogeCoin?

It’s a form of virtual currency that’s used primarily as a “tipping” device for Internet/social media users. For example, if you see a noteworthy post or status update, you can choose to toss the poster a few DogeCoin. It also can be used to buy goods and services.

As for the weird name, that comes from the Doge internet meme, which centers around a fluffy Shibu Inu and superimposes short phrases of broken English into the pictures. In this particular case, ‘many donation’ or ‘very speed’ would be appropriate.

Hey, we made LOLcats and “I can haz cheezburger” popular, so why not this?

And besides, DogeCoin has been used in sports fundraising before. As you recall, the Jamaican bobsled team needed to raise $80,000 just to get to Sochi for last month’s Winter Olympics.

That sum was broken in the span of just a few days, and Dogecoin was a key part in making that happen. Now, it’s going to help Wise and the small PPR team, who reportedly will have the Dogecoin livery for the upcoming race at Talladega Superspeedway.

Reddit users can also go here to submit entries in a community-judged car design contest. The deadline for submissions is April 1 at Midnight ET.

  1. manik56 - Mar 25, 2014 at 9:31 PM

    So what is a race team going to do with fake currency?

    • itchyirish77 - Mar 25, 2014 at 10:40 PM

      Ohh fake huh, tell that to the Jamaican bobsled team sent to the olympics with dogecoins, the indian luge guy, the two wells put into Kenya, the 30k dollars for children in need of service dogs etc. Welcome to the 21st Century Bubba!!

    • adambomb789 - Mar 26, 2014 at 10:37 AM

      I understand your concern as US Dollars are no longer backed by gold and silver, although many places will still exchange them for products like tires, suspension and engine components, etc. Many restaurants accept US Dollars as well.

    • Matt Gardocki - Mar 26, 2014 at 11:46 AM

      Real or fake, you can still trade it for actual dollars. The Dogecoin community will exchange it for US dollars before sending the sponsorship payment.

  2. Chris Estrada - Mar 25, 2014 at 10:43 PM

    Manik,
    The DogeCoin is worth something. Albeit very little – 1000 DogeCoin = $0.66 in USD. But if you can get a big amount of DogeCoin like the Reddit crowd has done, it can actually mean something substantial.

    Thanks for reading!

    – CE

  3. midtec2005 - Mar 26, 2014 at 12:32 AM

    Oh my god I love the internet. err…

    Much love very internet.

  4. midtec2005 - Mar 26, 2014 at 12:34 AM

    Oh, and I want to see “Much NASCAR” written across the hood of the car.

  5. ChrisLance.net - Mar 26, 2014 at 2:13 AM

    Why the picture of a dog?

    Anyways the dog looks like hes about to bite someone.

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