SHIB Soars as Shiba Inu Brings in Shibacals

Key takeaways

Shiba Inu developers have introduced Shibacals, a service that allows users to connect real-world assets to NFTs.

SHIB has surged by over 7% in the past 24 hours.

Shiba Inu Introduces Shibacals

Shiba Inu developers have announced their work on a service called Shibacals, which enables users to link real-world assets with NFTs.

Shibacals, as part of the Shiba Inu’s Shibarium ecosystem launch, aims to enhance proof of ownership.

Shibarium is a layer-2 blockchain designed for metaverse and NFT applications within the Shiba Inu ecosystem. Powered by SHIB, BONE, and LEASE tokens, Shibarium is set to launch before the year ends, according to the developers.

Lead developer Shytoshi Kusama believes that Shibacals: Authenticated Collectibles will leverage NFC chips to digitally authenticate physical items. This implementation of NFC chips can potentially increase the value of collectibles within the Shiba Inu ecosystem due to its wireless interaction capabilities over short distances.

Kusama emphasizes the need for item authentication as the popularity of NFTs continues to grow, stating, “As mass adoption unfolds (preferably on Shibarium) and scammers move from wallets to tangible items, how will we authenticate these items?”

The team also states that Shibacals tags are not limited to the Shibarium ecosystem and could find adoption within the wider blockchain ecosystem for product verification purposes.

SHIB Surges by Over 7%

SHIB, the native token of the Shiba Inu ecosystem, is the top performer among the top 20 cryptocurrencies by market cap in the last 24 hours. It has gained over 7% in value, outpacing other major cryptocurrencies.

Currently, the price of Shiba Inu stands at $0.00000784 per coin, marking a more than 20% increase in the past seven days.