The entire cryptocurrency and the automobile industries were shocked to see a major update that was dropped by two major entities from the respective segments.
The Bugatti Group and the Shiboshi Club made an announcement about their collaboration, which took the internet by storm. They were surprised and shocked to see that these companies had formed an agreement.
New NFT Collection
The companies revealed on Sunday that they had collaborated with aims to launch a new collection in the non-fungible token (NFT) industry. It was an entire collection that the entire crypto industry had access to.
It was quite shocking to see that the entire collection was sold out for the NFTs in a matter of minutes. According to estimates, the entire collection was gone inside the wallets of users in just four minutes.
Statement by Nakalikes
A major development studio that uses Web 3 technology, Nakalikes made a comment on the entire situation. The firm commented on the strong demand that was witnessed for the NFT collection.
They mentioned through Twitter that they were blown away by the high demand they witnessed for the NFT collection. They had not imagined that the demand for the particular collection would be so high.
Nakalikes claimed that as per their records, the entire collection was sold in a matter of 110 seconds which is even less than 2 minutes.
In addition to the collection, the teams collaborating for the particular collection also came up with physical items.
These items were also very amazing and they were offered alongside the limited edition non-fungible tokens.
The Physical Items
In addition to the non-fungible tokens, the users were able to get their hands on the cross-body bags in their physical form. These bags were custom and very eco-friendly.
Then there was the carry-on luggage, which was also offered in the physical form and was custom. This luggage was also designed to be eco-friendly.
The teams also offered great discounts on particular products. The users were offered a guaranteed 55% discount on the purchases if they were able to get their hands on these physical items.
Shiba Inu is Growing in Demand
In recent months, the teams behind Shiba Inu have started to undergo several strategic partnerships. The reports reveal that Shiba Inu has been working on the release of their new solution, which is Shibarium layer-2.
The teams are very much excited about the release of the new protocol that is going to take the Shiba Inu protocol a step further.
Things are going to get quite interesting for Shiba Inu when the Shibarium solution is in place.
Shiba Inu has also formed several deals and partnerships with other companies from within the crypto-verse that have increased its utility in recent months.
Just recently, BitPay announced that Shiba Inu was accepted on the largest e-commerce platform, Amazon. It is a huge utility that is now being offered by Shiba Inu and has increased its adoption rate tremendously.
Recent Price Movement of Shiba Inu
Shiba Inu had spent the worst year in 2022 as the asset found it extremely difficult to find any utility. With no significant utility in favor of SHIB, the token was not being adopted by the crypto industry at all.
Therefore, the token did not find any strong rally that could push its price higher in near future. Since the beginning of December, the utility of SHIB has surged, and so has its trading price in the market.
In the past 30 days, the trading price of SHIB has surged by 16.27% and for the past 7 days, its price has continued surging. The past 7-day data shows its price has surged by 18.99%.
At the time of writing, SHIB trades at $0.00001004 and its trading volume has also surged to a high of $338 million.