Why Is Shiba Inu Trending Today? Here Are Key Developments

Meme coin Shiba Inu (SHIB) finally has a ‘use case’ as the cryptocurrency payment gateway, NOWPayments, integrated the token with its Point-of-Sale (PoS) terminal, allowing businesses to make mass payments in SHIB

Outlook Money Team

Updated on: 3 September 2022 3:40 pm

The Shiba Inu crypto was trending on Saturday after the cryptocurrency payment gateway, NOWPayments, integrated its Point-of-Sale (PoS) terminal with the SHIB token, and Shiba unveiled the first concept art of its metaverse dubbed WAGMI (We’re All Gonna Make It) temple.

NOWPayments, a major player in the crypto payment sector, supports more than 50 cryptocurrencies, including eight stablecoins. The meme coin now has a use case.

Thank you @NOWPayments_io for allowing $SHIB to be accepted via Point-of-Sale 👀🔥https://t.co/MUo30MvBsi
— SHIB BPP (@ShibBPP) August 31, 2022

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NOWpayments’ Point-of-Sale (PoS) terminal automates the cryptocurrency payment process. Its PoS terminal is completely web-based, compared to most PoS solutions that use physical devices. Hence, its PoS can support many devices, including computers and mobile phones.

Shiba’s integration with NOWPayments will allow businesses to pay employees in SHIB token.

NOWPayments’ mass payment system of will enable businesses to make group payments, such as wages, in SHIB tokens, allowing enterprises to create a new automated payroll system.

Shiba Reveals First Concept Art Of Its Metaverse

Shiba also revealed the first concept art of its metaverse, the WAGMI (We’re All Gonna Make It) temple, inspired by real temples from around the world, signifying the community's positive spirit.

It has partnered with the world’s top visualization studio, Los Angeles-based THE THIRD FLOOR (TTF), to create the metaverse. TTF had previously worked on the Star Wars Episode 3. TTF reportedly “aims to create a Zen-like space for calming effects, meditation and natural beauty”.

🌐New Blog Post!
SHIB The Metaverse WAGMI Temple First Concept Art Reveal

View more below 👀https://t.co/3LUGYEdloC
— SHIB: The Metaverse (@ShibTheMV) September 3, 2022

What This Means For Shiba Holder

Shiba Inu developers plan to provide its community members with cutting-edge ways to burn the SHIB token. For instance, ShibaSwap 2.0 and the future Layer 2 Shibarium are expected to play significant roles in the scheme to burn trillions of SHIB tokens.

To date, a whopping 410.3 trillion SHIB tokens have been burned. The burn rate has gone up significantly in the last few days. However, in the last 24 hours, Shiba's burn rate has gone down by 46.09 per cent to 69.7 million SHIBs.