The Shiba Inu memecoin development team has applied for a “.shib” domain, which operates natively on the internet’s domain name system (DNS).
“We are collaborating with @ShibToken to apply for and acquire the.shib Top-Level Domain (TLD),” internet domain company D3 announced on X (formerly Twitter) on December 19. D3 is mainly concerned with domains of the next iteration that facilitate compatibility between Web2 and Web3.
D3’s website states that because it does not rely on the Domain Name System (DNS), current Web3 names such as “.crypto” and “.eth” do not function natively with widely used internet applications such as web browsers and email.
Conversely, while Web2 domains such as “.com” and “.net” function via the Domain Name System (DNS), they lack inherent functionality with Web3 applications such as wallets and digital identity solutions.
Approval would grant Shiba Inu memecoin holders the ability to generate email addresses appended with the “.shib” suffix. D3 states that it would be compatible with standard email applications.
ICANN, the nonprofit organization based in the United States that establishes and enforces policies regarding the identifiers of the internet, is the entity to which D3 is required to apply.
The internet domain company also intends to introduce “name tokens” for SHIB users. This feature will eliminate the requirement for lengthy alphanumeric storage addresses when transferring digital assets to different blockchains.
CoinGecko data indicates that SHIB’s price has declined by less than 1% since D3 disclosed the announcement, in no response to the news.
September also marked the one-millionth user of the Shibarium network, a new layer-2 blockchain developed by Shiba Inu. Despite being in private mode, the Shiba Inu team has declared their intention to launch the blockchain publicly within the next few months.
