The Shiba Inu team has introduced its latest venture into the world of NFTs with the unveiling of the SHEboshi collection.
This new collection of non-fungible tokens not only celebrates Shiba Inu culture but also represents a “bold leap into the future of art”, according to the development team, because they showcase innovative and striking designs.
The SHEboshi NFTs are expected to bring a fresh perspective to the NFT space. These hybrid tokens offer a unique opportunity for shared ownership and collectability while preserving the distinctive characteristics of traditional NFTs.
The collection marks a significant development in the NFT space as it was built with the DN404/ERC-404 token standard, a combination of elements from both ERC-20 and ERC-721 standards. Thus, it has a wide range of use cases and functionalities compared to other NFTs.
Originally slated to mint last weekend, the process faced unforeseen delays but commenced on February 20, 2024. The community of Shiboshi holders took centre stage as the first to mint the SHEboshi NFTs, a gesture of appreciation for their instrumental role in the NFT project’s success. Their claim window, initially set for 72 hours, was reduced to 48 hours.
Following the initial claim period, holders of LEASH, another token in the Shiba Inu ecosystem, will have 24 hours to purchase any remaining SHEboshi NFTs. The final public sale is scheduled on Uniswap and ShibaSwap, providing an opportunity for a broader audience to acquire the NFTs.
However, the minting process didn’t exactly go hitch-free, the team noted ‘a bug momentarily opened the gates for additional minting”, resulting in transactions worth 652 ETH in under 5 minutes. They noted that they have addressed the issue and put in measures to prevent such a thing from happening again.
Ever since its initial announcement, the SHEboshi NFT collection has captured the attention of the NFT community. With 20,000 unique NFTs and a current floor price of 0.12 ETH ($351.72), the collection has already generated substantial trading volume, surpassing 900 ETH within hours of its launch, equivalent to an impressive $2.63 million, according to data from OpenSea.
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