Following Elon Musk's appearance on Saturday Night Live, SpaceX announced that they will be launching “DOGE-1 Mission to the Moon," next year, and the project will be funded by Dogecoin.

"We're excited to launch DOGE-1 to the Moon!", SpaceX Vice President of Commercial Sales Tom Ochinero said in a statement released by Geometric Energy, according to Reuters. "This mission will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce."

Elon Musl, SpaceX, Doge
Win McNamee / Getty Images

Musk, who has advocated for the colonization of Mars in the past, recently said that building an occupied base on the Moon would be an important step: “We need to have a big permanently occupied base on the moon, and then build a city on Mars and become a spacefaring civilization. We don’t want to be one of those single planet species, we want to be a multi-planetary species.”

During his appearance on SNL, Musk joked that Dogecoin is "a hustle." Afterward, the cryptocurrency fell 35% in value.

"It's the future of currency. It's an unstoppable financial vehicle that’s going to take over the world," Musk said on the show's "Weekend Update."

"So, it's a hustle?" replied Michael Che.

Musk answered, "Yeah, it's a hustle."

[Via]