Shiba Inu to allow borrowing of NFTs for its gaming guild

Shiba Inu to allow borrowing of NFTs for its gaming guild

Shiba Inu, one of the world’s most popular cryptocurrencies known for its devoted fanbase, the powerful #ShibArmy, is transitioning from a meme to a movement. Shytoshi Kusama, the leader of Shiba Inu, has praised the progress made in building a gaming guild project for the Shibarium network. It has been revealed that SHIB Shibarium, Shiba Inu’s highly anticipated Ethereum Layer 2 (L2) blockchain, will serve as the foundation for the Metaverse.

The much-anticipated beta version of the layer-2 scaling solution was made available to the public on March 11 2023. Kusama stated in a blog post that early beta testers may now access the testnet, which uses Puppynet tokens that are not investments. The technology is a layer 2 solution that provides several perks to the Shiba Inu system, including faster and cheaper transactions, increased scalability, and enhanced security.

Shibarium is being considered for a large range of projects. Before the debut, LucieSHIB, a prominent Shiba Inu Twitter account, announced that over 3,000 Shibarium intake forms had already been filed. Shiba Inu GG, the gaming guild is one of the first project ideas from the network. 

Kusama appreciated PawZone’s guild project development progress and wished the team continued ‘kudos and good luck’ for establishing the project. JD, the founder of PawZone, responded by thanking Kusama for the encouragement. He also stressed that the PawZone team is working to create Pawzaar, its NFT marketplace, first before moving on with the development of the Shiba Inu Gaming Guild.

Since the best NFTs can have extremely high prices getting started with the game can be very expensive. This is where a lot of users are eliminated leading to a smaller consumption of such games. Prospective players cannot afford to enter these contests because the top NFTs retail for thousands of dollars.

Shibarium claims that this problem can be altogether eliminated in their newly proposed game. They plan on a guild that provides all players with access to rare NFTs by pooling resources in a treasury. JD Hatefi announced in a January 2022 interview that members of the Shiba Inu GG will be able to earn NFTs in play-to-win titles with the guild supported by the treasury.

The guild will enable Shiba Inu members to borrow in-game assets but they get to keep any profit earned from playing these blockchain games. The titles or even blockchains that will be offered will be determined by the Decentralized Autonomous Organization (DAO). The guild will also make SHIB burning easier by routing some transactions to the burn address.