Shiba Inu (SHIB) has announced the launch of registration for ‘Shib Names’ amid a notable increase in its price. The news, revealed on Wednesday in the latest issue of Shib Magazine, generated excitement among the SHIB community, driving optimism for a possible significant increase in the price of SHIB to reach the coveted $0.001. The launch of registration for ‘Shib Names’, announced in the magazine, gave users the exclusive opportunity to claim their desired names at discounted rates before they were made available to the general public.
This milestone is a result of the partnership announced in December 2023 between the SHIB ecosystem and Shiba Inu top-level domain (TLD) partner, D3 Global. The magazine article describes 'Shib Names' as a “passport to the decentralized world,” noting that these tokens, which carry a '*' instead of the traditional dot associated with Internet domains, are currently limited to the functionality of Web3 and act as expressions of interest for the future.
‘Shib Names’, priced at $10 per year for standard names and higher rates for premium tiers, promise to offer more than just unique names. According to the magazine, they will come with a multichain wallet that will function as a single address on hundreds of EVM-compatible blockchains, simplifying cryptocurrency management. Additionally, as a cross-platform Web3 username, 'Shib Names' will allow fluid movement between various DeFi platforms, GameFi, social networks and other spaces.
Additionally, 'Shib Names' will provide decentralized identity capabilities, facilitating the identification of smart contracts, validators, nodes and dApps, fostering trust and transparency in the decentralized ecosystem.
