Prominent Shiba Inu (SHIB) developer Shytoshi Kusama believes it's time to move on from memes and focus on practicality. The new partnership with D3 Global will help the SHIB community create domain names ending in .shib. This is the first step to creating the foundation for a new decentralized identity.
Kusama believes that memes must take a backseat to evolving to a standard that “can easily support the technology we are all building for a better world.” He believes this is the only way to give greater meaning to token burning.
The Shiba Inu (SHIB) community reveals its transition to Web3
The new partnership with decentralized identity experts at D3 Global will turn shib tokens into shib name services. These tokens can integrate features that improve the user's Web3 experience.
When users secure a top-level domain, they may receive a .shib address. The Shiba Inu community believes that their domains are different from other projects such as the Ethereum Name Server system.
One of the highlights of this project is that it is different from the .com addresses associated with centralized organizations such as Netflix and Amazon. Users have the ability to outright own a website address and an email address ending in .shib. Both are completely decentralized.
“The next partner and the purpose that brings us to the point of groundbreaking testing is the Shiba Inu” – Kusama said in a recent series of articles on X.
Prospects for increased adoption
The journey towards a decentralized internet is underway in the Shiba Inu ecosystem. The first development was the launch of the Shibarium platform earlier this year. Shibarium is a layer 2 network built on the Ethereum platform. The number of transactions on Ethereum's layer 2 networks increased by 50% in the past two years.
Earlier this year, the Manny Pacquiao Foundation said it would use the Shibarium to host the event. People can also donate using SHIB and automatically receive a tax receipt.
Bitcoin's recent growth has helped the market capitalization of altcoins increase to $700 billion. Memecoin BONK recently became the third largest dog-themed memecoin after Dogecoin and Shiba Inu. SHIB's price increased 21.1% over the same period last year, to 0.00001020 USD.
Price SHIB/USD | Source: BeInCrypto
overview
The decision to cooperate with D3 Global to create the .shib domain name is an important development for Shiba Inu (SHIB). Providing the community with the ability to own top-level domains with the .shib extension is an exciting benefit. At the same time, it also aims to build a new decentralized identity.
With a .shib domain name, users can create a web or email address with this suffix. From there, helping them create completely decentralized online experiences. This is really different from today's .com addresses.
Thereby, Shiba Inu set the goal of building an independent and decentralized ecosystem. At the same time, promoting innovation and creativity in the cryptocurrency space. This could increase the value of SHIB in the future. Additionally, the integration with the Manny Pacquiao foundation marked the expansion of Shibarium. This platform has been used in more diverse fields, not just in finance.
