Exciting news from the SHIB universe as the much-anticipated Sheboshis NFT collection officially launches, bringing a fresh wave of enthusiasm and innovation to the community.
With a unique token standard and a commitment to token burning, the Sheboshis are setting new trends in the NFT space. Learn more about this groundbreaking launch, its initial challenges, and what it means for SHIB enthusiasts and NFT collectors alike.
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Sheboshis Now Available for Free Claiming and Trading
The Shiboshis, a collection of NFTs developed by Shiba Inu (SHIB), announced on February 21, 2024, that the much-anticipated new NFT collection named "Sheboshis" is now available for free claiming.
Sheboshis adopts an experimental token standard from Ethereum and has been reported to allocate a portion of its earnings to the burning (destruction) of SHIB-related tokens.
This announcement highlighted that Shiboshis holders could now claim Sheboshis for free, with claims being processed through the Shiba Inu marketplace and sales transactions taking place on the Sheboshis page on OpenSea.
Previously, "The Shib: 13" had introduced Sheboshis as utilizing the "ERC-404" token standard. However, the latest announcement describes it as adopting "DN-404," a new experimental approach.
"DN-404," a replacement for ERC-404, indicates a new token standard that, as the name Divisible NFT (DN) suggests, allows for the issuance of new NFTs under certain conditions or their burning when those conditions are not met.
Official SHIB Blog Reports on Sheboshi Launch
The SHIB official blog also reported on the Sheboshi launch, describing it as a tremendous success that topped OpenSea rankings even before touching Uniswap or Shibaswap.
However, the launch experienced temporary issues, with a bug momentarily opening an additional issuance gate, resulting in transactions worth 652 ETH in less than five minutes.
The SHIB team addressed this issue promptly and is currently working on rectifying the problems that arose. Specifically, they have decided to increase the total supply of Sheboshis from 12,000 to 20,000 using the ERC-404 feature, ensuring that all eligible for the free distribution can claim their Sheboshis as planned.
As previously reported, if Shiboshi holders entitled to free distribution do not claim, then $LEASH holders will have the opportunity to purchase the remaining Sheboshis.
Moreover, the profit distribution remains unaffected by the increase in revenue, maintaining the previously reported ratio for token burning, non-profit organizations, foundations, teams, liquidity provision, and operational expenses.
Future announcements are expected to detail the specific uses and benefits for Sheboshis holders, making upcoming developments in the series something to watch out for.
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