When somebody mentions meme coins, the first things that would come to mind would be Dogecoin (DOGE) or Shiba Inu (INU). The label meme coin also means that it does not have real-world utility; these tokens were just created for comedy. However, SHIB destroyed this notion by introducing Shibacals, a smart way to authenticate collectibles.
Shiba Inu isn’t the first to use blockchain to authenticate real-world objects. The fashion house BLK DNM and Chromaway has just recently introduced garments that come with digital garment IDs. The garment IDs are secured by blockchain, which makes them hard to tamper with.
How Does Shibacals Work?
Shibacals allow users to print anything they can mint. Creators can transform their digital NFTs into authenticated, high-quality, physical items like toys, plushies, or apparel. Shibacals is designed as a collaboration studio that bridges the gap between the physical and digital worlds in a unique way.
According to Shibacals, the process is very straightforward. Experts from Shibacals will create a 3D prototype from submitted 2D images from creators. Once a prototype is completed, a physical product will be created. Afterward, Near Field Technology (NFC) chips will be embedded in the items. The chips can be used to link to websites, NFT marketplaces, or the metaverse.
Shibacals just launched Shiba Inu hoodies on Champion, a popular clothing brand. There is an ongoing contest wherein the community is being asked to join a design competition for the SHIB-inspired Champion hoodie. Each garment will be authenticated with NFC encapsulated by tags printed by Hewlett Packard.
What are the Benefits of Being Authenticated via the Shiba Inu Blockchain?
Using the SHIB blockchain and NFC technology to authenticate products offers benefits to users.
- It can verify ownership. The blockchain is a tamper-proof ledger to store information. It can easily prove ownership or even the provenance of an item. Shibacals can ensure that only the original owner of both the physical item and the NFT can claim ownership.
- This also prevents counterfeiting and fraud. Buyers can easily check the authenticity of the product on the blockchain.
- Shibacals and creators can create scarcity for physical items by limiting their supply or making them exclusive to certain NFT holders. Scarcity may also cause the value of a product to increase.
- It can also allow owners of items to participate in exclusive metaverse events.
Can We Still Call SHIB a Meme Coin?
Shiba Inu, just like other meme coins, was created as a comedic relief. But the SHIB army, the devoted community behind the token, has lobbied to push the project to greater heights. Aside from Shibacal, a new layer two solution is being tested at the moment. Shibarium was created to address issues on the Ethereum network. This layer two solution promises lower gas fees, faster transactions, and scalability.
By leveraging NFC technology and the Shiba Inu blockchain, Shibacals can provide collectors with verifiable ownership and authenticity for both their tangible and digital assets. A real-world usage that makes the SHIB army proud. This begs the question – Can we still Shiba Inu a meme coin if it already has utility?
