SNEAK PEEK
- Shibarium’s closed beta minted 140K NFTs with just 800 BONE, showcasing its cost-efficiency.
- BONE’s role in Shibarium extends beyond transactions, influencing system upgrades and SHIB burns.
- Shibarium’s low gas fees make it a scalable, affordable platform for large-scale NFT projects.
Shibarium, a prominent layer-2 solution within the Shiba Inu ecosystem, has achieved a significant milestone by supporting the minting of 140,000 NFTs during the closed beta phase of Shiba Eternity.
Shibarium Beta Milestone: 140K NFTs Minted with Just 800 BONE in Sponsored Gas Fees
We’re excited to share an incredible achievement from our Shiba Eternity Beta Closed for Leash holders!
So far, these dedicated testers have minted a staggering 140,000 NFTs on Shibarium,… pic.twitter.com/3sPgFMvQ7L
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) September 6, 2024
This accomplishment not only underscores Shibarium’s capabilities but also highlights its cost-effectiveness, with only 800 BONE tokens, equivalent to around $310, used to cover gas fees for over 20,000 transactions.
The development is a testament to Shibarium’s potential to become a preferred platform for large-scale NFT projects, offering a scalable and economical solution for creators.
Central to Shibarium’s operations is BONE, a key token utilized for all transaction fees on the platform. BONE’s utility extends beyond just transactions, as it also plays a critical role in system upgrades within the Shibarium ecosystem. This ensures BONE’s continued relevance and importance across current and future projects.
Additionally, Shibarium incorporates a SHIB burn mechanism, automatically reducing the supply of SHIB tokens with every BONE transaction. This burning process contributes to creating scarcity, potentially increasing the value of SHIB over time, and further solidifying BONE’s importance in the ecosystem.
The minting of 140,000 NFTs during the Shiba Eternity beta highlights Shibarium’s efficiency and affordability. The platform’s ability to handle such a large volume of transactions with minimal costs demonstrates its suitability for NFT creators looking to develop large-scale projects.
The low gas fees, particularly during the beta phase, have made it easier for creators to engage with the platform, providing a seamless experience for users. This cost-effective structure positions Shibarium as a competitive option for those in the NFT space.
As Shibarium continues to grow and attract more users, particularly from the Shiba Inu community, its role in the decentralized finance (DeFi) sector is likely to expand. With over 1.4 million SHIB holders who have yet to fully engage with Shibarium, the platform’s user base is poised for significant growth.
Possible with such a rapid strategy of development, new needs will emerge, which means that BONE will strengthen its position in the ecosystem even more. Simply minting NFTs in the Shiba Eternity beta phase indicates that Shibarium is capable of processing large volume transactions at low prices, which puts it on a strong footing as one of the most promising layer-2 solutions in the DeFi world.
