- Shiba Inu’s partner, the Bugatti Group has announced access to physical items for holders of its Genesis NFT Collection.
- The Bugatti Group is renowned for its influence as a luxury brand and the move is billed to bolster Shiba Inu’s influence.
The Bugatti Group, a renowned luxury brand based in Montreal Canada has launched a portal through which holders of the Non-Fungible Tokens (NFTs) it launched in collaboration with Shiba Inu can claim physical items. The manufacturer of luxury branded bags and luggage said the holders of the SHIBOSHI NFT can gain access to the claim portals through their dashboard.
The launch of the physical items for its NFT holders comes off as one of its own models to give additional value to select members of its community. The Bugatti Genesis NFT Collection was launched back in January in partnership with Shiba Inu. Crypto-News Flash reported at the time that the launch will be accompanied by the handing out of exclusive rewards, some of which are now materializing at the moment.
The Bugatti NFT consists of 1828 items resident on the Ethereum blockchain. The items sold out as fast as they were introduced, showcasing a huge inherent demand for related digital collectibles. At the moment, the mint of the NFTs born as a result of the collaboration of both Bugatti and Shiba Inu will entitle 95% of the holders to limited edition cross-body bags, while 5% would earn a claim to carry-on items sporting their unique SHIBOSHI design.
The Bugatti Group has been making waves in the luxury goods section since its inception in the past 82 years. The pivot into the NFT world marks a similar attempt by the designer to tag along with other competitors in the field including Nike, Adidas, Lacoste, and Salvatore Ferragamo, all of whom have launched their own collections.
While it is not the first luxury brand to wade into the NFT space as mentioned above, The Bugatti Group is arguably the first to debut a physical item to match the collection.
A boost for Shiba Inu
Being associated with the Bugatti Genesis NFT Collection, the launch of the physical items to match the NFTs is a unique boost for Shiba Inu. The memecoin has been doing all it can to bolster its influence in the ecosystem, and this new advantage can help users to validate the quality of the token’s partnerships.
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While Shiba Inu made its name as a viable Dogecoin (DOGE) killer with a characteristically volatile price action. However, the coin has pivoted beyond this narrative and is now bringing unique utility and use cases to its holders worldwide.
The protocol is currently eyeing the launch of Shibarium, its layer-2 blockchain network as it seeks to outrank the usability of the Ethereum blockchain. The memecoin is also fully invested in the metaverse through its Shiberse protocol.
Overall, Shiba Inu remains a major digital currency that has continued to defy all odds over the past few years. Riding on the bearish sentiment in the broader ecosystem today, the coin’s price has slipped by more than 7% to $0.00001226 at the time of writing.
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