The Shiba Inu (SHIB) ecosystem welcomes another bullish development. Shiba Racing Team, a motorsport-themed play-to-earn game, has announced the launch of its genesis non-fungible token (NFT) collection.
The game developers gave details of the collection in an official release. Per the release, the collection was inspired by the Shiba Inu token and Formula-1 racing elements. It features 9,990 unique ERC-721 standard-based NFTs on the Ethereum network.
Each piece in the collection is a variant of one of the five motor racer characters in the play-to-earn Shiba Racing game. These include Ace (The Shiba Inu), Max (The Bull), Char (The Dragon), Milo (The White Tiger), and Bubbles (The Bear).
The digital art pieces will also feature different traits, including eyewear, headgear, background, fire suits, and much more.
The NFTs will add value to the game, as well as offer real-world utility to their collectors’ portfolios. The release notes that the NFTs will allow collectors to gain steady revenue flow from the game’s P2E opportunities. It added that the NFTs will facilitate the player vs. player gaming model.
“While metaverse can house new innovations and advancement, the gaming industry’s strong presence in the metaverse is eminent, and we strive to provide better & immersive racing experience by launching our meticulously crafted NFTs,” Jason Scoby, founder of Shiba Racing Team, said in the statement.
Meanwhile, the release also notes the metaverse game will launch a second NFT collection featuring supercars as NFTs. When this launches, players will be able to try out different racer and supercar combinations. They will also be able to participate in Grand Prix tournaments that the metaverse game plans to organize to win exciting prizes.
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Shiba Racing Team is not the only metaverse game that the Shiba Inu ecosystem has welcomed. Back in October, Shiba also saw the launch of Shiba Inu Eternity, a collectible card game.
The launch of multiple games is bullish for the GameFi utility of the Shiba ecosystem. The has already made significant progress, currently featuring Shiboshis (an NFT collection), ShibaSwap (a DEX), and BONE and LEASH (a governance token.
It also features several liquidity pools and fundraising campaigns for Shiba Inu Rescue Association. Meanwhile, it is also preparing for the launch of Shibarium (a layer 2 scaling network), and SHIB:The Metaverse, a metaverse platform.
SHIB, the memecoin that powers the ecosystem, currently trades at around $0.0000086, down 0.62% in the last 24 hours. However, the bullish ecosystem developments may see the token rise to new highs as the token gains more utility. Additionally, SHIB is also seeing real-world adoption which also points to it having a bright future.
Olivia Brooke has been writing about cryptocurrencies since 2018. She’s currently fascinated by NFTs, and she remains committed to learning and writing about the broader cryptocurrency industry.
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