Shiba Inu, has partnered with D3 seeking to obtain the domain through the Internet Corporation for Assigned Names and Numbers.
The second largest memecoin by market cap, Shiba Inu, managed to make headlines again and grab attention. This time, it has partnered with Web3 company D3 to secure the “.shib” top-level domain, aiming to become one of the first decentralized ecosystems to launch such a feature.
“We have partnered with @ShibToken to apply for and obtain the .shib top-level domain (TLD),” Internet domain company D3 revealed in a post on X (formerly Twitter) on December 19. D3 specifically focuses on next-generation domains that enable interoperability between Web2 and Web3.
Particularly, the collaboration focuses on improving the recognition of Shiba Inu within the mainstream Internet by creating a unique top-level domain. This move aligns with the trend of using human-readable names in the crypto space.
Interestingly, the contribution comes less than a week after Shytoshi Kusama, the developer behind Shiba Inu, and LUCIE, Shibarium’s marketing strategist, hinted at a “very big announcement.”
Shiba Inu Looking to Launch “.shib” Domain for Its SHIB Holders
Specifically, Shiba Inu holders will be able to create email addresses with the “.shib” suffix, and would be compatible with regular email applications. Therefore, you must apply to the Internet Corporation for Assigned Names and Numbers (ICANN), the US-based nonprofit organization that creates and enforces Internet identifier policy.
In fact, according to the D3 website, current Web3 names, such as “.crypto” and “.eth,” do not work natively with commonly used Internet tools, such as web browsers and email, because they do not work with the domain name system (DNS).
However, Web2 domains like “.com” and “.net” operate in the DNS, but do not work natively with Web3 tools such as wallets and digital identity solutions.
Likewise, D3 plans to reveal “name tokens” for SHIB users, which will allow users to send digital assets to various Blockchains without the need for long alphanumeric wallet addresses.
D3 must apply to the Internet Corporation for Assigned Names and Numbers (ICANN), the US-based nonprofit organization that creates and enforces Internet identifier policy.
Web 3 Promise and D3 Vision to Make It Real
To all this, Shytoshi Kusama expressed the following via X:
“To truly understand why today’s announcement is so important, one must ask…what is Web 3?
I guess a better question is… what is the **promise** of Web 3?”
D3 CEO Fred Hsu said: “Our vision is to make Web3 more accessible, transparent, scalable and secure by building future-proof, interoperable digital identities with DNS at the core.”
SHIB price did not respond to the news, falling less than 1% since D3 shared the announcement, according to data from CoinGecko.
In other news, Shiba Inu’s new layer 2 blockchain, the Shibarium network, reached one million users in September. The blockchain is still in private mode, but the Shiba Inu team expressed its intention to make it public in the coming months.
Shiba Inu Price Prediction
On Platform X, Shytoshi Kusama discussed the future of Shiba Inu (SHIB). He said an upcoming major token burn and new partnership will help cement Shiba Inu as a global powerhouse. Following this revelation, the price of Shiba Inu rose from $0.000009522 to $0.00001014 in just a few hours on December 16.
According to CryptoPredictions, the SHIB price for today (25.12.2023) is forecast to be in the price range of $0.000009028983191 – $0.000013277916457. Shiba Inu price is expected to end at $0.000010622333166 today.
By Leonardo Perez
