The Shiba Inu ecosystem team has finally announced the launch of the highly anticipated SHEboshi non-fungible tokens (NFT) collections.
According to an announcement yesterday, the launch of SHEboshis marks the beginning of a new era for the NFT scene. The digital collectibles will pioneer a movement towards the creation of hybrid tokens, offering shared ownership and uniqueness for NFT enthusiasts.
Unlike existing NFTs, SHEboshi was launched as a DN404/ERC-404 token, a move that helped the Shiba Inu development team blend the unique features of ERC-20 and ERC-721 standards.
Notably, the team pointed out that the SHEboshi NFTs represent a daring stride into the future, encapsulating art, innovation, and the essence of the Shiba Inu community.
It bears mentioning that the SHEboshi NFTs were first introduced last week in the 13th edition of The Shib Magazine. Although the minting of SHEboshi was initially scheduled to begin last weekend, the exercise did not occur as planned.
SHEboshi Minting Commences
Per yesterday’s blog post, the team has officially flagged off SHEboshis’ minting on the Ethereum network.
Shiboshi holders will be the first investors to mint the NFTs. The move is part of an effort to reward them for their loyalty and support for the Shiba Inu NFT project.
Following a snapshot at block height 19227900, eligible wallets can claim one SHEboshi for each Shiboshi NFT they hold. Interestingly, some eligible Shiboshi holders have already minted the SHEboshi NFT, including Shiba Inu marketing specialist Lucie.
#Shibarium NFT marketplace sneak peek ?
My 54 @sheboshis are home! pic.twitter.com/tNBb1s46CQ— 𝐋𝐔𝐂𝐈𝐄 | Shibarium ⛓️ (@LucieSHIB) February 21, 2024
The claim period, which commenced yesterday, is slated to last 48 hours in contrast to the initial plan of 72 hours.
Upon the conclusion of the first claim period, the team will make the NFTs available for LEASH holders, who will have 24 hours to purchase the remaining SHEboshis.
There will also be a public sale for the remaining SHEboshi NFTs, which will take place on Uniswap and ShibaSwap.
Although SHEboshi debuted on the Ethereum network, the team disclosed plans to bridge the NFTs to Shibarium to enhance the network’s liquidity.
Allocation of SHEboshi Proceeds
As reported earlier, the SHEboshi proceeds will be allocated to different initiatives. Part of the proceeds will be used to burn Shiba Inu ecosystem tokens, including SHIB, LEASH, BONE, TREAT, and SHI.
The remaining portion will be allocated to Shiba Inu’s treasury, non-profit initiatives, expenses, and foundation.
According to OpenSea data, SHEboshis consists of 20,000 uniquely generated non-fungible tokens with a floor price of 0.12 ETH ($351.72).
Despite launching a few hours ago, SHEboshi’s total volume has surged to the current figure of 900 ETH, worth $2.63 million.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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