Bolstering its mainstream presence, Shiba Inu has unveiled plans to launch a top-level domain [TLD] with the Internet Corporation for Assigned Names and Numbers [ICANN], a nonprofit organization overseeing various facets of the Internet. Collaborating with D3 Global, a digital infrastructure provider, Shiba Inu seeks to introduce a unique domain extension akin to ‘.com,’ ‘.org,’ or ‘.xyz,’ commonly known as TLDs.
This partnership holds significance as existing web3 domains such as ‘.crypto’ and ‘.eth’ lack seamless compatibility with essential internet tools like web browsers and email, primarily due to their non-operation on the Domain Name System [DNS]. Meanwhile, traditional web2 TLDs like ‘.com’ and ‘.net’ function within the DNS but lack native compatibility with web3 tools like digital wallets and identity systems.
Shiba Inu aspires to become the inaugural cryptocurrency domain to accelerate the integration of Web3 with native support for both Web2 and Web3. This strategic move aims to introduce tangible domains to the Shiba Inu ecosystem, expanding the vision for decentralized digital identities and fostering long-term revenue generation.
While the success of Shiba Inu’s application remains to be determined, the last instance of ICANN approving TLDs occurred in 2012. Nevertheless, such innovations have played a pivotal role in simplifying online identities amid the prevalence of complex wallet addresses.
Shiba Inu: Early Access For SHIB Domain Open
Furthermore, Shiba Inu is actively offering users the opportunity to register for early access, ensuring they are among the first to obtain exclusive premium SHIB name tokens. Looking ahead, D3 plans to seamlessly integrate *shib name tokens into the Shib Name Service [SNS], potentially enhancing Web3 functionalities and enriching both online and on-chain experiences. Upon securing the top-level domain, users will have the ability to obtain authentic .shib domains, combining the robust functionalities of Web3 with the familiar features of Web2.
This achievement positions Shiba Inu alongside well-established brands such as .bmw and .netflix, although it is crucial to note that these brands operate within a centralized framework. Shytoshi Kusama, the pseudonymous lead developer of Shiba Inu, emphasizes the rarity of brands utilizing their TLDs in public-facing roles, highlighting this shift as a significant move from centralized ‘commercial’ entities to the forefront of global decentralization represented by Shiba.
Despite the announcement, the meme coin’s value remained unaffected. As of the current moment, SHIB has experienced a 2.6% decline over the last 24 hours, reflecting the overall trend in the broader market.