Shib Names, a highly anticipated project within the Shiba Inu ecosystem, is gearing up for its Early Access launch today, March 5th, at 1:00 PM UTC. The launch coincides with a recent surge in the price of Shiba Inu ($SHIB), leading some to speculate on a connection between the two events. Shib has surged almost 45% in the last 24 hours ahead of this launch.
Shiba Inu is collaborating with D3 on the development of the application for the .shib top-level domain and intends to submit it through ICANN, the global authority responsible for managing internet domains, during the upcoming application window.
SHIB Name Tokens are available for purchase by any user or entity using a credit card or cryptocurrency wallet. The pricing of names is determined based on factors such as string type, length, and perceived demand, and they are categorized into different price tiers.
The Shib team will also give discounts to Early Access Users to celebrate the recent pump. Users who sign up beforehand will receive a 69% discount on their first purchase of up to 20 Shib Names, valid for the first 69 hours after launch.
Standard Names are priced at $10 per name per year, while Premium Names start at $50 per name per year (excluding that 69% discount). Users will be able to pay using $SHIB, $ETH, and other cryptocurrencies, as well as fiat.
Shib Names Tokens will function as:
- Multichain wallet addresses across various blockchains
- Cross-platform Web3 usernames for DeFi, SocialFi, and GameFi platforms
- Identifiers for smart contracts, nodes, and other decentralized infrastructure
- Addresses for accessing decentralized websites and dApps
Shortly after Early Access, users can buy, sell, or place offers on existing Shib Names through the D3 Marketplace. The Shib Name Service (SNS) is being integrated with D3, allowing existing SNS holders to claim their upgraded D3 Shib Names.
By applying for the real .shib top-level domain, Shiba Inu aims to establish itself as one of the pioneering Web3 networks to possess its own DNS namespace.
While the price of $SHIB has indeed risen recently, a direct link to the Shib Names launch is just speculation. The hype surrounding the launch and the potential utility of Shib Names could be contributing factors, but market forces and broader crypto trends likely also play a role.
