Shiba Inu has announced plans to open a ‘.shib’ domain for SHIB owners
The team behind the dog-themed memecoin Shiba Inu (SHIB) has applied for the “.shib” domain that runs on the Internet's Domain Name System (DNS).
“We are partnering with @ShibToken to acquire and acquire the Shib top-level domain (TLD),” Internet domain company D3 said in a December 19 X (formerly Twitter) post. D3 specifically focuses on next-generation domains that enable interoperability between Web2 and Web3.
We are partnering with @ShibToken to acquire the .shib Top Level Domain (TLD).
Learn more here pic.twitter.com/zO3rZPavWi
— D3 (@D3inc) December 19, 2023
According to the D3 website, existing Web3 names such as “.crypto” and “.eth” do not work with commonly used Internet tools such as web browsers and email because they do not work with DNS.
On the other hand, Web2 domains like “.com” and “.net” work on DNS, but not natively with Web3 tools like wallets and digital ID solutions.
If allowed, Shiba Inu memecoin holders can create email addresses with the extension “.shib”. It will be compatible with ordinary email applications D3 states.
Related: With memecoins, new protocols revitalize the Bitcoin ecosystem
D3 must apply to the Internet Corporation for Assigned Names and Numbers, or ICANN, the United States-based nonprofit organization that creates and enforces policy on Internet identifiers.
To truly understand why today's announcement is so important, one must ask… What is Web 3?
I think the better question is…what is the **promise** of Web 3? pic.twitter.com/Eam8Zh4OBe
— Shytoshi Kusama™ (@ShytoshiKusama) December 19, 2023
The Internet Domain company plans to launch a “name token” for SHIB users, which will allow users to send digital assets to different blockchains using long, alphanumeric wallet addresses.
SHIB price did not react to the news – falling less than 1% after D3 shared the announcement, according to CoinGecko.
In other news, Shiba Inu's new layer-2 blockchain Shibarium Network reached 1 million users in September. The ban is still in private mode, but the Shiba Inu team has expressed its intention to make it public in the coming months.
Magazine: How smart people invest in dumb memecoins: 3 point plan for success
