Shiba Inu (SHIB) Pursues .shib Domain for Web3 Integration

The team that is responsible for the dog-themed memecoin Shiba Inu (SHIB) has submitted an application for a domain with the extension “.shib” that operates on the Domain Name System (DNS) of the internet.

The internet domain company D3 announced on December 19th that they formed a partnership with ShibToken to apply for and acquire the .shib Top-Level Domain (TLD). D3 pays special attention to next-generation domains, enabling communication between Web2 and Web3.

Web2 domains, on the other hand, such as “.com” and “.net,” are able to function through the Domain Name System (DNS), but they are not compatible with Web3 technologies such as wallets and digital identification solutions.

If the proposal were approved, those who hold the Shiba Inu (SHIB) memecoin could generate email addresses with the “.shib” suffix attached to them. D3 states that it would be compatible with programs typically used for email.

According to the website of D3, current Web3 domains such as “.crypto” and “.eth” do not work natively with commonly used internet tools such as web browsers and email since they do not operate on the Domain Name System (DNS).

D3 will be required to submit an application to the Internet Corporation for Assigned Names and Numbers (ICANN), which is a non-profit organization based in the United States that is responsible for formulating and enforcing policies on the identifiers of the internet.

It is also the intention of the internet domain company to introduce “name tokens” for SHIB users. These tokens will enable users to transfer digital assets to different blockchains without the need for lengthy wallet addresses that contain alphanumeric characters.

According to the statistics provided by CoinGecko, the price of SHIB did not react to the news and has decreased by less than one percent since D3 posted the statement.

In other developments, the Shibarium network, which is Shiba Inu’s new layer 2 blockchain, gained one million users in the month of September.

The blockchain is still in “private” mode, but the Shiba Inu team has stated that they intend to announce their desire to make it public within the next few months.