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Shiba Inu's 'Shibacals': Linking NFTs to Real-World Items

Shiba Inu ecosystem develops 'Shibacals' to link real-world items to NFTs for authentication in their upcoming Shibarium platform, resulting in a spike in SHIB price.

Developers within the Shiba Inu ecosystem are launching a service called 'Shibacals' that links non-fungible tokens (NFTs) to real-world assets, bolstering proof of ownership. This service will be part of the anticipated rollout of Shibarium, a Layer 2 blockchain focusing on metaverse and NFT applications, using Shiba Inu (SHIB), Bone (BONE), and Leash (LEASH) tokens for operations. According to developers, the launch is slated for later this year.

On Thursday, Shytoshi Kusama, the lead developer, revealed that "Shibacals: Authenticated Collectibles" would use NFC (Near Field Communication) chips to digitally authenticate physical items, potentially enhancing the value of these collectibles. For instance, Shibacals could create a tag for a real-world item, like a T-shirt, that is connected to a user's NFT collection. This connection confirms that the T-shirt owner and the NFT owner are the same person. On resale, these tags can be verified on the blockchain, enabling buyers to distinguish between original products and replicas.

Kusama highlighted the growing popularity of NFTs due to verifiable ownership and scarcity in the digital realm. He posed the question, "But, what about physical objects?" With the increase in mass adoption (ideally on Shibarium), and the potential for scammers to shift focus from digital wallets to tangible items, the need for authenticating these items becomes crucial.

The applicability of Shibacals tags will not be limited to the Shibarium ecosystem and can be used to verify products on any blockchain. Following this update, Shiba Inu ecosystem tokens witnessed a significant boost. SHIB saw an 11% surge, becoming the top gainer among major tokens. Concurrently, BONE and LEASH jumped by 9% and 5.5% respectively.