Shiba Inu’s newest venture into the realm of digital collectibles, SHEboshis, has surpassed all expectations by selling out completely within just three hours of the initial minting phase. Originally, the SHEboshi digital collectible set was structured into three distinct phases.
The primary focus was on the original Shiboshis NFT holders, who were given the exclusive opportunity to claim a complimentary SHEboshi NFT. This feminine counterpart to the original Shiboshis NFT collection has generated significant excitement among Shibarians for several compelling reasons.
What Makes SHEboshis Collectibles Special?
First and foremost, the SHEboshis project represents a tribute to women within the blockchain community, emphasizing empowerment and leadership in the cryptosphere. This initiative aims to celebrate and elevate the role of women in a space historically dominated by male voices, fostering inclusivity and diversity.
Additionally, these digital collectibles introduce an innovative inscription protocol known as ERC-404. This protocol serves a dual purpose: firstly, to facilitate the seamless transition of liquidity onto Shibarium, Shiba Inu’s Layer-2 blockchain, once the Ethereum-based SHEboshis collection is bridged. Secondly, it aims to experiment with new methods of injecting liquidity into the ecosystem, potentially offering novel solutions to liquidity challenges.
As depicted in the tweet announcement, the overwhelming response from the community led to a swift sell-out of the SHEboshis collection. The 48-hour free claim window, which was exclusively available to Shiboshis NFT holders based on a snapshot list, saw widespread participation as eligible holders eagerly seized the opportunity to acquire a SHEboshi. Following the closure of the free claim window, holders of DogeKiller (LEASH) tokens were provided the opportunity to mint a SHEboshi for 0.05 Ether (ETH), excluding gas fees. This step further contributed to the project’s success and demonstrated the enthusiasm of the community for the SHEboshis initiative.
SHEboshis off the LEASH: No Third Minting Phase?
As affirmed by Lucie S, Shiba Inu’s Marketing Lead, the SHEboshis digital collectible set experienced a rapid sell-out, with the entire collection being claimed within just five minutes into the second phase. Initially priced at $0.05 Ether (ETH) for minting, the floor price for the collection has since surged fivefold to 0.25 ETH, as indicated on the collection’s official OpenSea page.
This remarkable achievement underscores the significant impact SHEboshis have had on the Shiba Inu community, commonly referred to as the SHIB Army. Despite plans for a third phase of public minting, the overwhelming demand surpassed the available supply before the third phase could commence. However, enthusiasts of digital art still have the opportunity to acquire SHEboshis through secondary markets like OpenSea.
In response to this news, Shiba Inu’s LEASH token observed a notable 13% increase, nearing the $400 mark, before encountering resistance and undergoing a market correction down to $287. Meanwhile, Shiba Inu’s primary token, SHIB, has yet to experience significant impact, maintaining its position as the #19 ranked canine-themed cryptocurrency and persistently trading below the critical resistance level of $0.00001.
On the Contrary
- Shiboshis, the complementary digital collectible set, also rode the wave of excitement surrounding SHEboshis and surged by 37% in floor price, reaching 0.2399 ETH, which translates to over $700.
- The third phase of SHEboshis minting would have held significant importance for Shiba Inu (SHIB) burns. In this phase, 6% of the revenue generated was earmarked for burning SHIB tokens, with an additional 2% allocated for burning BONE and LEASH tokens.
Why This Matters
Testing out new scalability protocols like the ERC-404 is crucial to staying at the forefront of innovation and expanding the utility cases for on-chain digital collectibles.
