Key Points:
The Shibarium ecosystem is a layer 2 blockchain that focuses on metaverse and NFT applications, using the Shiba Inu (SHIB), bone (BONE), and leash (LEASE) tokens to operate. The blockchain is set to go live later this year, according to the developers.
In a recent update, lead developer Shytoshi Kusama shared that the “Shibacals: Authenticated Collectibles” will employ NFC chips to digitally authenticate physical items. This innovative approach could increase the value of these collectibles. The Near Field Communication technology will allow devices to interact wirelessly over a very short distance.
Shibacals can be used to generate a tag for a real-world product, such as a T-shirt, which is tied to a user’s NFT collection. This way, the owner of the T-shirt and the NFT can be authenticated as the same person. On resale, these tags can be verified on the blockchain, which will help buyers differentiate between original products and copies.
“The NFT craze is, in part, due to the verifiable ownership and scarcity that digital items on the blockchain offer,” Kusama explained in the update. “But, what about physical objects? As mass adoption unfolds (preferably on Shibarium), and scammers move from wallets to tangible items, how will we authenticate these items?” Shibacals tags will not be limited to the Shibarium ecosystem and could be used to verify products on any blockchain, according to the article.
The development of Shibacals is an exciting addition to the Shibarium ecosystem, providing a solution for verifying the authenticity of physical items. This could have significant implications for the NFT market and could potentially open up new opportunities for blockchain technology in the physical world.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Annie
Coincu News
a16z and Coinbase have pledged substantial funds to crypto PAC Fairshake, aiming to support crypto-friendly…
Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) dominate the crypto market, but experts warn that…
Discover the future as the Dogecoin price aims for a $0.7 comeback and discover why…
Willemstad, Curaçao, 4th November 2024, Chainwire
London, UK, 4th November 2024, Chainwire
November is the perfect time for BlockDAG's huge presale. Use BDAG100 to double your purchase.…
This website uses cookies.