The most valuable non-fungible token (NFT) that complies with the ERC-1155 standard has been minted. The cryptocurrency, with Doge as the underlying theme, is backed by more than 1,155,777.1 Enjin (ENJ) worth nearly $129,000.

The cryptocurrency called ‘It’s good to be the King’ was minted on 1 March, and is a tribute to the popular Doge meme.

The token is portrayed using the image of Shiba Inu dog, with a crown and staff.

NFT ecosystem developing

Recently, the NFT ecosystem has developed, with a large number of protocols aiming to meet the needs of the applications for which they will be used and the developers who will be using them.

On 5 March, Dapper Labs, the company behind the development of blockchain-based game CryptoKitties, has released Flow Playground, which is an interface allowing users to experience creating NFTs and the Dapper Labs’ Flow product.

Dapper Labs has announced that it joined hands with Ultimate Fighting Championship (UFC).

Under the agreement, both parties will provide UFC fans with opportunities to buy and maintain UFC-branded digital collectibles on Dapper Labs’ Flow.

Musk known for supporting Dogecoin

Elon Musk, CEO of SpaceX and Tesla, is again cheering for big altcoin Dogecoin (DOGE) just after a month from offering cynical remarks on Bitcoin (BTC).

Musk, who is also known for being a big DOGE fan, has tweeted on 3 March to voice support for the cryptocurrency.

The former tweet was not really related to crypto but just a shoob meme with the caption “Dogs rock.” However, the following tweet — “they’ve got the best coin” — clearly indicates that Musk was thinking about the Dogecoin.

It seems that this is not the first time that Musk has shared his positive attitude towards DOGE.

In April 2019, Musk said on his tweeter account that DOGE may be his favorite cryptocurrency. He added that it is a “pretty cool.”

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