The Shiba Inu team plans to launch a new domain, “.shib,” enabling SHIB cryptocurrency holders to register unique names ending in “.shib.”
The launch of the Shibarium network represents a crucial step in bridging the gap between Web2 and Web3. Web3 technologies, including blockchain and decentralized applications, possess the potential to revolutionize our internet usage and interactions with digital assets.
Unlike “crypto” and “eth” domains, not natively supported by the internet’s domain name system, the “ship” domain would have support within this system.
D3, the company behind the “.shib” domain application, specializes in next-generation domains designed for compatibility across both Web2 and Web3.
Reportedly, the Shiba Inu team has applied for approval of the “.shib” domain within the Internet’s domain name system (DNS).
“We’re partnering with @ShibToken to apply for and obtain the .shib Top-Level Domain (TLD),” revealed internet domain firm D3 in a Dec. 19 X (formerly Twitter) post.
As described on D3’s website, current Web3 names like “.crypto” and “.eth” lack full compatibility with common internet tools, unlike Web2 domains such as “.com” and “.net.”
If approved, the “.shib” domain would allow Shiba Inu memecoin holders to create email addresses with the “.shib” suffix, compatible with ordinary email applications.
Before launching the “.shib” domain, D3 must seek approval from the Internet Corporation for Assigned Names and Numbers (ICANN), the U.S.-based non-profit overseeing Internet top-level domains.
D3 also plans to introduce “name tokens” for SHIB users, offering an alternative to long alphanumeric wallet addresses for sending digital assets.
Despite the “.shib” domain and name tokens announcement, SHIB’s price has seen minimal reaction, falling less than 1% since the announcement, according to CoinGecko data. Yet, this advancement could significantly impact user participation and the expansion of the ecosystem.
In September, the Shiba Inu community celebrated a milestone as its new layer-2 blockchain, the Shibarium network, reached 1 million users. Although still in private mode, the team intends to make Shibarium public in the coming months.
Read also: Why Rollups present a unique business model in crypto: Insights from Galaxy Ventures Exec
