A post from the social media account of the Shiba Inu ecosystem suggests that a new relationship between the meme-inspired cryptocurrency and the North American luxury business Bugatti Group will soon be disclosed.
In a tweet the Shib account published with its over 3.6 million followers on the microblogging network, the initiative alluded to “an imminent event announcement in the coming days,” along with a short film depicting numerous shiboshis in briefcases, travel bags, purses, and accessories. It tagged the official Bugatti Group social media account.
Launched in October 2022, Shiboshis are non-fungible tokens (NFTs) specific to the Shiba Inu ecosystem. Shib’s tweet was sent soon after the Bugatti Group unveiled its first-ever NFT projects in conjunction with the Bored Ape Yacht Club (BAYC) NFT collection for November 2022.
The Montreal-based luxury company teamed with BAYC to print unique NFTs on luggage and crossbody bags, and eventually on the websites of international merchants, by investing in the construction of a new facility outfitted with cutting-edge technology and equipment.
Andrew Hattem, then-CEO of Bugatti Group, remarked at the time that the firm is always seeking new ways to push the edge and that Web 3 is at the vanguard of modern society. In its announcement at the time, it states:
This sophisticated, patent-protected technology will also enable NFT holders to print their customized profile images on the aforementioned items and, shortly, on the websites of foreign merchants.
As reported, the SHIBArmy added over 600 new holders every day in December, despite the continued bad market in cryptocurrencies. Since the downturn in the cryptocurrency industry has also been harming trade volumes and retail investors’ interest in the area, the number of new wallets holding $SHIB has dropped from approximately 1,500 earlier this year.
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