Shiba Inu Unveils Central Web3 Strategy For 2024

Shiba Inu, in collaboration with domain infrastructure company D3 Global, has announced its core initiative for the year 2024, centered around the concept of “Shibdentity”. This project is aimed at redefining digital identity within the Web3 ecosystem, introducing unique digital personas known as Shib Names to streamline and secure users’ digital presence.

Shiba Inu’s Core Initiative For 2024

The announcement on X (formerly Twitter) underscores the intent to transition beyond traditional wallet addresses, which have predominantly represented identities in the Web3 space.

The project’s ambition was articulated by the official Shiba Inu account:

2024 will be the year of Shibdentity. For too long wallet addresses have taken center stage as your identity in Web3. Together with D3 we’re not just building a feature; we’re crafting a new era of digital identity in the Shibarium ecosystem and beyond.

The collaboration with D3 is strategic, leveraging the latter’s expertise in domain infrastructure to transition the concept of Shib Names from an innovative idea to a global standard. The collaborative effort is focused on ensuring the usability and intuitiveness of Shib Names, integrating them into the everyday digital lives of users.

“Together, we’re fine-tuning Shib Names to be intuitive and user-friendly, ensuring they become a natural part of your digital life. The goal is to make sending tokens as easy as sending an email, using your unique *SHIB Name,” the SHIB team remarked.

Furthermore, the partnership is described as more than a technological collaboration; it’s about “shaping the future of online identity.” Shiba Inu’s vision is expansive, aiming to embed Shib Names into the internet’s fabric, thereby simplifying transactions and fostering a more interconnected digital world.

The ambition is to make Shib Names a universal key across the web, a concept encapsulated in the statement: “Imagine a digital world where your Shib Name is your universal key, opening doors across the web. That’s the vision we’re chasing.”

Kusama’s Vision

Shytoshi Kusama, the lead developer behind SHIB, has been a vocal advocate for this transformative shift. Echoing the sentiments of the broader Shiba Inu team, Kusama’s vision of ‘invading the internet’ is embodied in the Shibdentity project.

Kusama recently stated:

Domains are the identity layer of the Internet. For 40 years, they have made using the Internet easier for all… We’re working with D3 to #InvadeTheInternet by applying for the .shib TLD [Top-Level Domain].

As part of this comprehensive strategy, Kusama envisions the .shib domain as a multifaceted tool, empowering users to host diverse online content, manage digital communications, and streamline transactions, all under the banner of their unique Shib Name.

Currently, pre-registration for Shib Name is in progress, inviting individuals to be part of this journey by reserving their unique identifiers ahead of the official rollout. This preliminary phase is crucial, offering users the opportunity to secure their digital identity in anticipation of the broader integration of Shib Names across the internet’s landscape.

At press time, SHIB traded at $0.00000888. Thus, the price is currently maintaining above the essential support mark of the 0.236 Fibonacci retracement level, situated at $0.00000878. This support is critical as it symbolizes a potential zone for trend reversal. Additionally, SHIB has repeatedly retested the descending trend line, and remaining above this line is crucial to prevent a potential drop to $0.00000715.