Shiba Inu Shares Fresh Update Regarding SHEboshi

The Shiba Inu ecosystem team outlines three phases for the minting of SHEboshi, a collection of 20,000 uniquely generated NFTs.

Following the launch of SHEboshi, an ERC-404 NFT for the SHIB community, the Shiba Inu ecosystem team has unveiled the phases of minting the digital collection.

Phases of Minting SHEboshi

According to an X post yesterday, users can mint the NFT in three phases.

Keep in mind the 3 phases:

Phase 1: FREE CLAIM FOR SHIBOSHIS HOLDERS (only gas fees to pay), and it lasts 48Hours

Phase 2: EXCLUSIVE TO $LEASH HOLDERS, minting PRICE 0.05 ETH, and it will last 24Hours

Phase 3: PUBLIC MINT, PRICE 0.05 ETH, it will continue UNTIL SOLD OUT

— Shib (@Shibtoken) February 21, 2024

Phase 1

The first phase of the minting process is for holders of Shiboshi, Shiba Inu’s original NFT collection. This phase aims to reward Shiboshi holders for their continuous support of the Shiba Inu NFT program.

Shiba Inu took a snapshot of all Shiboshi wallets at block 19227900, to detail eligible wallets. Users in this category can mint one SHEboshi for every Shiboshi NFT they hold at zero cost. Besides paying for gas fees, Shiboshi holders can claim SHEboshi for free.

The claim window, which started yesterday, is open for 48 hours. In the hours leading up to press time, Shiboshi holders are required to mint the NFT at zero cost within the next 16 hours or forfeit their claim.

Phase 2

According to the announcement, the second phase will commence immediately after the Phase 1 claim window ends. This Phase 2 claim window will be open for 24 hours, with priority given to Doge Killer (LEASH) holders.

Per the announcement, LEASH holders, irrespective of the amount of LEASH they hold, can mint SHEboshi for a cost of 0.05 ETH ($146), excluding gas fees.

With LEASH holders given priority, Shiba Inu enthusiasts took to various crypto trading platforms to acquire some amounts of the token to become eligible for SHEboshi claim.

Consequently, LEASH embarked on a massive breakout, surging from $295 to $313 in the past day. At press time, Doge Killer is priced at $298, marking a 24-hour decline of 3.37%.

Phase 3

In the third phase, the SHEboshis minting process will be open to the general public and the broader crypto community. Here, anyone can mint SHEboshi immediately after the Phase 2 claim window elapses.

Like the second phase, a unit of SHEboshi will cost users 0.05 ETH in the third phase, excluding gas fees. The phase 3 claim window will continue until all SHEboshis have been minted successfully.

It bears mentioning that all 20,000 units of SHEboshi NFTs will be minted on the Ethereum network. However, plans are underway to bridge the NFTs to Shiba Inu’s L2 blockchain, Shibarium.

Notably, the proceeds from the sale of SHEboshis will be distributed for various purposes. While some of the proceeds will help incinerate Shiba Inu ecosystem tokens (SHIB, BONE, LEASH, SHI, and TREAT), the remaining revenue will be allocated to the team, non-profit projects, foundation, and expenses.

In the meantime, the SHEboshi NFTs can be traded on OpenSea at a floor price of 0.109 ETH, equivalent to $318. According to data from OpenSea, SHEboshis boasts a total volume of 1,159 ETH, worth around $3.38 million.

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