• Shiba Inu is developing an innovative service that will establish a connection between real-world assets and NFTs.
• The upcoming Shibarium ecosystem will use the SHIB, BONE, and LEASE tokens for its operations.
• Lead developer Shytoshi Kusama has hinted at ‘Shibacals: Authenticated Collectibles’ which will use NFC chips to verify the authenticity of physical items.
Shiba Inu Unveils Groundbreaking Concept
The Shiba Inu team is currently working on a service that aims to bring together non-fungible tokens (NFT) with real-world assets. This development is part of the upcoming roll out of the Shibarium Ecosystem, a layer 2 blockchain focused on metaverse and NFT applications. The ecosystem will utilize the SHIB, BONE, and LEASE tokens for its operations, expected to go live later this year.
What are Shibacals?
Lead developer Shytoshi Kusama recently unveiled the concept of “Shibacals: Authenticated Collectibles” which will use Near Field Communication (NFC) chips to digitally authenticate physical items, potentially increasing their value. For example, a tag could be generated for a T-shirt associated with a user’s NFT collection in order to prove ownership when reselling them; buyers can verify the authenticity by checking the tags on the blockchain. This feature seeks to combat fraudsters attempting to exploit tangible items as adoption increases.
The Appeal of Verifiable Ownership & Scarcity
Kusama highlighted the appeal of verifiable ownership and scarcity offered by digital items on blockchain technology which has contributed greatly to the popularity of NFTs today. However, authentication remains an issue as it becomes more widely adopted; hence why Shibacals exists as a viable solution in verifying physical objects with digital tags stored on blockchain networks.
SHIB Price Rises by 13%
In reaction to this groundbreaking concept announced by Shiba Inu developers, SHIB prices rose significantly; gaining 13% within 24 hours following Kusama’s announcement – further demonstrating investor confidence in products like Shibacals being released soon in future updates from Shiba Inu developers.
The idea behind Shibacals allows users greater control over their tangible assets while providing verifiable proof of ownership through NFC tags stored on blockchain networks; making it one step closer to mass adoption of cryptocurrencies in everyday life.