Transaction activity on Shibarium, the Ethereum layer-2 blockchain linked to the Shiba Inu (SHIB) meme coin, is supposedly declining. Instructions for acquiring Shibarium-based non-fungible tokens (NFTs) were published on X (formerly Twitter) on Sunday by a team member of the SHIB ecosystem.
Shibarium, which debuted in August of last year, has recently shifted its focus to applications related to metaverse, gaming, and decentralized finance (DeFi); this demonstrates the extent to which the ecosystem surrounding Shiba Inu has advanced since its meme coin origins.
Read Also: Breaking: With the lowest Bitcoin ETF fee, Franklin Templeton breaks records.
Shibarium Serves As An NFT Center
Furthermore, the diversity of NFTs that reside in Shiba Inu's Shibarium serves as evidence of the network's worth. ColonelCoup and Shib Dream NFT are two NFT collections that have already been released on Shibarium.
An ecosystem participant known as "Lucie" on X published a comprehensive guide on social media explaining how the Shiba Inu community can buy these digital assets as interest in Shibarium-based NFTs develops.
Read Also: In Argentina, Sam Altman's Worldcoin Records 500,000 World ID Verifications
A Guide to Buy Shibarium NFTs
According to Lucie's post, users need to ensure that they have Ethereum (ETH) and any other Shiba Inu ecosystem assets, such as SHIB, BONE, or LEASH, in their wallets before they may buy Shibarium NFTs. The next step is to add the Shibarium network to their Web3 cryptocurrency wallet using the wallet's browser extension.
BONE When Lucie was describing the process, she brought up ShibaSwap (BONE) as the suggested digital resource. The same requirements will apply to anyone wishing to use another asset in the Shiba Inu ecosystem.
After adding the network, users need to bridge their BONE tokens. Users can accomplish this by heading to the Shibarium Staking platform, where they will find Mantra Protocol and other Shibarium-based NFT marketplaces. Customers can then purchase the NFT of their choosing using BONE. On Shibarium, NFT collections can be bought for ten to ten thousand BONE tokens.
In addition to offering the guidance, Lucie highlighted the low transaction fees associated with Shibarium-based NFTs, claiming that customers only have to spend as little as $0.01 in fees every transaction.
This happens in the midst of a downturn in Shibarium trading activity, with an average of 7 million transactions falling to $5.69 million during the preceding 30 days. Consequently, SHIB's price dropped to $0.00000, a fall of around 9% over the previous seven days.