From meme coin to NFT superstar, Shiba Inu has taken the next step toward becoming a staple in the NFT space.
The earliest days of the NFT space were dominated by Ethereum’s native coin, Ether (ETH). As the industry expanded, more altcoins were permitted into the exclusive NFT minting club. Polygon (MATIC) was the first to enter, followed swiftly by Solana (SOL). Finally, Shiba Inu (SHIB) has joined the NFT game and is ready to establish its legacy in the DeFi industry.
What is Shiba Inu?
Shiba Inu (SHIB) started as a meme coin with no further use than a social media prop but has since evolved into a widely adopted altcoin. However, since its conception, the realm of social media has been pitting it against Dogecoin. As a result, there has been a longstanding battle between Shiba Inu and Dogecoin for the “King of the Meme coins” title. It was a logical conflict that stemmed from the dispute between their native blockchain networks, Ethereum and Bitcoin.
Shiba Inu has had the battle to make a name for itself, but its roots in the Ethereum blockchain network have set the crypto token for success. Being on the Ethereum network also primes it to be able to tap into the NFT industry due to its underlying infrastructure. This has allowed Shiba Inu to become an incubator for newly minted NFTs to find their home.
There are exciting features about Shiba Inu that make it distinct from other crypto tokens. Like other currencies, crypto aims to create and retain its value. However, Shibu Inu is an ERC-20 token and is not an autonomous blockchain network; thus, it uses the Proof-of-Stake (PoS) based validation protocol.
A downside to SHIB is that it does not have a scarcity factor to create value from the traditional supply-and-demand model. Instead, Shiba Inu aims to profit from its novelty model of 100% decentralization. It answers the long-asked question: what would happen if the community owned and ran $100 of a cryptocurrency project?
What are Shiboshi NFTs?
NFTs are all the rage nowadays, and nobody is immune to the temptation of the proverbial gold trap. Shiba Inu has jumped on the bandwagon with its project, which is how the Shiboshi NFT collection was born!
The Shiboshi Social Club is a website that congregates the first 10 000 Shiboshi non-fungible tokens (NFTs) minted on the Ethereum blockchain network with the Shiba Inu crypto token. To gain access to the exclusive social club, it is crucial to buy one of the adorable Shiboshi NFTs.
Contrary to its native coin, Shiboshi NFTs are deliberately limited to one collection of 10 000 NFTs. This embedded exclusivity has paid off in spades. Since its launch, NFT traders have bought, sold, and traded Shiboshi NFTs to a total value of 13 000 ETH. A considerable element of community is fueling this bull market for Shiboshi NFTs. Let’s say there is a long line of people desperate to join the ShibArmy!
How do I buy Shiba Inu?
The first step to entering the NFT space and picking up a few Shiboshi NFTs is to collect some of the network’s native tokens. The primary decentralized financial platform that facilitates the purchase, trading, and selling of Shiba Inu is ShibaSwap.
Shiba Inu (SHIB) is an Ethereum-based cryptocurrency that is available to be bought and sold on numerous crypto exchanges. It is compatible with the entirety of the Ethereum ecosystem. This is a significant advantage for those looking to invest in or trade SHIB because it is available on Ethereum-based wallets like the Coinbase wallet and other DeFi exchanges like UniSwap.
How do you Buy Shiboshi NFTs?
The world of NFTs is widely dependent on hype and initial exclusivity. This was why the first batch of Shiboshis (Shiboshi NFTs) was exclusively available on shiboshis.shibaswap.com. According to Shytoshi Kusama, the best part was that the site did not add additional costs to those interested in buying and trading the NFTs.
The second platform that allowed NFT traders to get their hands on the sought-after Shiboshi NFT collection was OpenSea. This is a hub for anyone currently engaged in the NFT space. The best part is that users can use a single wallet to access the primary Shiboshi’s website and OpenSea using the same Ethereum-based wallet. My personal preference is MetaMask.
Are Shiboshi NFTs worth it?
The NFT space has never been more lucrative, and the industry shows no indication of stopping. As with the rise of the Bored Ape Yacht Club and Decentraland plots, NFTs have the potential to become very valuable when they are successfully incorporated into a worthwhile project. This is even more true when one considers that Shiboshi NFTs are being used in the network’s new Web3 game. As players flock to the game and scoop up the last of the Shiboshi NFTs to enter the game world, the price of the whole collection is predicted to soar.
So, the short answer to the question is YES! Buying and holding a Shiboshi NFT might be your wisest decision this year.