shiba inu(SHIB) price has recovered along with most of the cryptocurrency market. It is currently trading at $0.00000841 with a 14.2% jump in the last 24 hours alone. This translates to a 7-week pump of 28.2%, which is even higher than Bitcoin (BTC)’s weekly rise to $30,100.
In addition, SHIB developers are trading real-world assets known as Shibacals in immutable tokens (for proof of ownership).NFT‘s) also announced the creation of a new service aimed at connecting
As mentioned above, the announcement shocked the market, causing a double-digit increase in the price of SHIB. The most dynamic in the top 20 list cryptocurrency solidified its position as one of its units.
Shibarium, a highly anticipated layer 2 blockchain designed to focus on NFT and metaverse applications, will act as the platform for Shibacals. Three tokens – shiba inu (SHIB), bone (BONE) and leash (LEASE) – will be used to facilitate transactions within the ecosystem. As confirmed by the developers, the expected launch of the blockchain is scheduled for later this year.
Lead developer Shytoshi Kusama announced in an update Thursday that Shibacals, also called “Authenticated Collections”, will leverage NFC (Near Field Communication) chips to digitally authenticate physical items.
This approach is expected to significantly increase the value and desirability of these collectibles. Specifically, Shibacals tags only shibarium ecosystem will not be limited. It will be compatible with any blockchain and enable product verification across various platforms.
The release of Shibacals represents a huge leap forward in the NFT world as it offers a tangible connection between the digital and physical realms.
Collectors and enthusiasts will now be able to verify the authenticity and ownership of real-world assets associated with NFTs, such as artwork, rare items, and memorabilia using NFC technology. This development is expected to bring more trust and transparency in the NFT space, attract more users and drive greater adoption.
As the launch of the Shibarium blockchain approaches, expectations are rising for the integration of Shibacals and the transformative impact it will have on the NFT market. With the potential to revolutionize asset ownership and authentication, this groundbreaking initiative could shape the future of NFTs and their real-world counterparts in multiple blockchain ecosystems.
Source : Crypto News Land