Shiba Inu team unveils NFT authenticators for physical goods

Shiba Inu developers have implemented a solution for digital authentication of physical items—Shibacals—based on NFTs, as part of the rollout of the Shibarium ecosystem.

Shibarium Zoomed Out, .@shibacals Authenticated Collectibles, Shiba on Champion Garments(!), and the upcoming Worldpaper. Time for an update #SHIBARMY… https://t.co/QpFtVxCl3x

— Shytoshi Kusama™ (@ShytoshiKusama) June 21, 2023

The project uses labels embedded with NFC-chips, through which connectivity and the ability to conduct blockchain transactions are provided.

According to Shytoshi Kusama, the lead developer of Shiba Inu, the initiative is primarily aimed at verifying product authenticity and ‘enhancing their aesthetic appeal’.

The team has reached an agreement with its first client—the sportswear manufacturer Champion. The batch of labels was manufactured by Hewlett Packard.

In January, the developers announced the imminent beta release of Shibarium — a layer-2 network built on Ethereum. It is expected that the Shibacals NFT authenticators will be used both within and beyond the protocol.

Against the backdrop of the announcement, the SHIB token rose more than 10% in 24 hours. Bitcoin over the same period added about 4%, trading above $30,000. The total market capitalization of cryptocurrencies rose by around 5% (CoinGecko).

In April 2022, the Shiba Inu team launched a burn mechanism for SHIB.