Shiba Inu (SHIB) and its decision to launch a new NFT collection named SHEboshis
The cryptocurrency space is no stranger to innovation and novelty, with Shiba Inu (SHIB) leading the charge in recent developments. The SHIB team has embarked on an exciting journey with the launch of its latest non-fungible token (NFT) collection, named the SHEboshis. What sets this NFT collection apart is its use of the ERC-404 token standard, a decision that has the community buzzing with anticipation.
The SHEboshis Collection: A Leap into ERC-404
The ERC-404 standard represents a significant evolution in the blockchain space, merging the characteristics of ERC-721 (NFTs) and ERC-20 (fungible tokens) standards. This innovative approach not only enhances the liquidity of NFTs but also facilitates fractional ownership, a feature that could redefine the market's dynamics.
The SHEboshis collection was officially launched on February 20, minted on the Ethereum network rather than Shibarium. The SHIB team's choice to leverage Ethereum's vast liquidity was strategic, aiming to provide the SHEboshis with the robust start they deserved. Moreover, there are plans to bridge these NFTs to Shibarium in the future, further integrating them into the Shiba Inu ecosystem.
The bug encountered during the SHEboshi minting process and its impact
However, the launch was not without its challenges. A bug in the minting process allowed some wallets to acquire more SHEboshis than initially allocated. Kaal Dhairya, a Shiba Inu developer, publicly addressed this issue, extending apologies to those affected and outlining measures to rectify the situation. In response, the team increased the total number of SHEboshis from 12,000 to 20,000, allowing those who missed out to claim and mint their NFTs. Unclaimed SHEboshis will eventually be available for purchase by LEASH holders, ensuring fair access to the community.
Allocation of Proceeds and Future Plans
Dhairya also shed light on the allocation of proceeds from the unexpected sales resulting from the bug, which amounted to 652 ETH. In a commitment to transparency and community development, 50% of this revenue will go towards token burns, charity donations, and liquidity provision for the NFT project. Strategic burns of SHIB, LEASH, TREAT, and SHI tokens are planned to reduce supply and add value for holders. Charitable contributions will support efforts in Japan (The Noto earthquake) and organizations like the Manny Pacquiao Foundation and Women in Blockchain.
The remaining 50% of the revenue is earmarked for operational expenses and the treasury, supporting Shiba Inu's mission towards a decentralized future. This approach not only addresses immediate challenges but also lays down a roadmap for sustained growth and community engagement.
An additional mention that the AVAV inscription page has launched ERC404
Avascriptions' ETH Cross-Chain Bridge will officially launch on the 23rd at 16:00 (UTC+8)!
At that time, Avascriptions will collaborate with major holders to provide liquidity for AVAV assets on the Ethereum (ETH) blockchain, laying a solid foundation for the launch of innovative ERC404 AVAV assets on the ETH public chain.
The total supply of AVAV ERC404 assets on the ETH blockchain will have 10,000 NFTs. Unlike traditional ERC404 asset NFTs and tokens, the number of AVAV ERC404 Tokens must reach 146,363,634,900 (equivalent to 2,100 AVAV) to obtain one corresponding NFT.
The AVAV ERC404 NFTs will initially be available in blind boxes, with five types available and corresponding chances as follows:
Bronze Mystery : 30%
Silver Fantasy: 25%
Golden Glory: 20%
Emerald Legend: 15%
Diamond Epoch: 10%
AVAV blind boxes will be reveal in the future, unlocking infinite possibilities for $AVAV on the ETH blockchain.
We welcome everyone to participate in this experimental cross-chain ERC404 asset launch, contributing to the creation of a bright future for the ASC-20 ecosystem!
Coinlive 
