Shiba Inu and D3 team up to protect the .shib top-level domain.
Long story short
Shiba Inu Partners with D3: Shiba Inu, the second-largest memecoin by market cap, has partnered with Web3 firm D3 to secure the .shib top-level domain, aiming to become one of the first decentralized ecosystems to launch such a feature through the Internet Corporation for Assigned Names and Numbers.
Cooperation goal: The focus of the cooperation is to improve the recognition of Shiba Inu in the mainstream Internet by creating a unique top-level domain. This move is in line with the trend in the crypto space to use human-readable names (such as those provided by the Ethereum Name Service) to represent wallet addresses and reduce errors.
Market reaction to the announcement: Despite the announcement of a major partnership, the Shiba Inu price has not seen a corresponding increase, falling 3% in the past 24 hours but up 10% on a weekly basis, according to CoinGecko.
The second largest memecoin by market cap — Shiba Inu — has managed to once again make headlines and capture the attention of crypto players. This time the news has nothing to do with the token’s price, but rather with the partnership the project has signed with Web3 company D3.
Specifically, Shiba Inu worked with the entity to secure the .shib top-level domain. As a result, the memecoin project became one of the first decentralized ecosystems to partner with D3 to launch such a capability through the Internet Corporation for Assigned Names and Numbers.
We are working with @ShibToken to apply for and obtain the .shib top-level domain (TLD) 🤝
Learn more here 👉 https://t.co/ZBWtO4ubtA pic.twitter.com/zO3rZPavWi
— D3 (@D3inc) December 19, 2023
Organizations including the Ethereum Name Service already allow crypto users to create human-readable names that represent addresses on the Ethereum blockchain. Such innovations improve the identifiability of wallets and help prevent certain errors.
Shiba Inu is now looking to delve deeper and become the first crypto domain to go viral on the mainstream internet. The collaboration with D3 aims to make the SHIB TLD application as interesting as possible.
The collaboration comes less than a week after Shytoshi Kusama (Shiba Inu’s anonymous lead developer) and LUCIE (Shibarium’s marketing strategist) hinted at a “very big announcement” and a year-end surprise for the XRP community.
Despite the big news, SHIB’s price has failed to rise, falling 3% in the past 24 hours (according to data from CoinGecko). On the other hand, the asset has surged more than 10% on a weekly basis.
