The Shiba Inu team announced the release of a new SHIB Burn Visa card on July 25 that burns SHIB when making payments.
The announcement was made via the Shiba Inu Twitter account @shibburn. The three-second promotional video featured only an orange Visa card with the initials SB and the slogan “Make payments, burn SHIB”.
— Shibburn (@shibburn) July 24, 2022
In April 2022 Shiba Inu and Ryoshi Vision cooperated to create a Shiba Inu fire portal. The portal aims to motivate SHIB holders to burn tokens. In return, burners should receive RYOSHI tokens and 0.49% of all transactions.
However, the distribution of rewards was extremely slow. Even though SHIB holders burned about $110 million worth of SHIB in just 24 hours, they became impatient with the RYOSHI reward.
The Shiba Inu team also noticed the disappointment. Team published on Sheba’s official blog and said:
“Obviously it is still not possible to implement such workflows that are precisely based on the promises of the platform. Reward turnover is inefficient.”
The Shiba team also added that they reached out to Ryoshi Vision about the backlog, saying:
“The shape of our community’s trust is paramount to the team.”
However, no changes were made to the award distribution process. The new SHIB visa aims to improve the recording process without being tied to the Ryoshi team.
The Future of the Shiba Inu
A recent Finders.com poll showed that 73% of participants see the end of the Shiba Inu by 2030, while 30% believe that the coin will not appear by the end of the year. Big names claim that the current bear market will get rid of “joke type” coins and make room for “real innovation.”
In response to this, the Shiba Inu makes major changes to itself. In addition to the new burning mechanism, the most recent changes include the Shiba Metaverse and the stablecoin.
The Shiba Team announced the upcoming Sheba Metaverse in February 2022, stating that they are watching the growth of the Metaverse and believe in its future.
The team has said it is exploring various ideas, including partnering with metaverse giants such as Sandbox and Decentraland. However, it is certain that the Shiba metaverse will be a canine reality with purchasable lands and Shiba NFTs.
The SHIBA stablecoin was announced on May 12, 2022 without a launch date. However, the team stated that SHIB’s ultimate goal is to become “a global stable currency that is plebulated in all countries.”
Ultimately, SHIB will have a stable price, so it can be used both as a store of value and as a payment method, according to the team.
Credit : cryptoslate.com