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Shiba Inu’s ecosystem team introduces Shib Marketplace, an upcoming innovative platform poised to revolutionize digital commerce.
The team announced the initiative in the latest edition of Shiba Inu’s weekly magazine, stating that the marketplace would redefine digital ownership.
Shib Marketplace Features
According to the announcement, Shib Marketplace marks a departure from centralized platforms, which focus on profits over user control.
The platform will be powered by Shiba Inu’s L2 scaling solution Shibarium, leveraging the network for transparent and secure transactions. In addition to Shibarium, the platform will also leverage the security architecture of the Ethereum network.
Also, Shibarium’s smart contract feature will enforce agreement within the marketplace, eliminating intermediaries and mitigating the risk of fraud.
Users to Become Active Stakeholders
Furthermore, the team claims that users will become active stakeholders in the marketplace instead of passive participants.
This would allow them participate in critical decision-making processes to determine the marketplace’s future direction through the Shiba Inu DAO. Since Shibarium will power the marketplace, it will leverage Bone ShibaSwap (BONE) for transactions.
Additionally, the ecosystem team aspires for Shib Marketplace to become a global hub for digital assets. Therefore, the platform is designed to handle hundreds of transactions per second without compromising security. Despite this, fees are extremely low, with each transaction costing 0.1 cents.
A Dedicated NFT Marketplace
Shiba Inu’s developers equipped the platform with an industry-standard NFT marketplace to attract more users. Notably, digital artists will have actual ownership of their creations within the platform. The platform also promises a community-driven economy that benefits NFT collectors and creators.
The development team plans to introduce other innovative features, such as ‘buy now, pay later options,’ lending and borrowing, and fractional ownership, in the future. At the moment, there is no exact date for its launch.
However, its upcoming launch will further transform Shiba Inu beyond its memecoin origins into a project with real-world utility. The team has made significant progress toward achieving this goal, thanks to the launch of notable projects like its DEX, L2 network, and digital assets. Shib Marketplace marks the latest project introduced within the Shiba Inu ecosystem.
Despite the milestone Shiba Inu has achieved over the years, SHIB lead developer Shytoshi Kusama asserts that the token is still a puppy.
He indicated that the cryptocurrency is still in its infancy and will eventually achieve significant milestones as it grows.