The team behind the popular Shiba Inu ($SHIB) ecosystem account has confirmed a new partnership between the meme-inspired cryptocurrency and the North American luxury brand Bugatti Group has been made.
The partnership, according to a thread the Shib account shared with its over 3.6 million followers on the microblogging platform, there will be a “special event,” in which the Bugatti Group will “host a mint party and space” dedicated to Shiboshis.
Shiboshis are non-fungible tokens (NFTs) exclusive to the Shiba Inu ecosystem that were launched back in October 2022. Per the thread, the partnership will “bring physical items and collectible NFTs” to Shiboshi holders.
According to Shib, there will be 299 limited releases and a “very exclusive 1st edition release,” with the mint price for these releases being 0.14 ETH, equivalent to around $187 at the time of writing. Shib added that 95% of mints will receive a “Cross Body limited edition Luggage Bag” from Bugatti Group.
On the other hand, 5% of all mints will receive a limited edition Carry-On item from the group. These will be rewarded to 15 NFT minters and allow them to place their own Shiboshi design on the bag.
A minting portal and a redemption portal are set to be launched in the near future, announced via Shiba Inu’s social channels.
The partnership comes shortly after the Bugatti Group announced its first-ever NFT projects in November 2022, in partnership with the Bored Ape Yacht Club (BAYC) NFT collection.
The Montreal-based luxury brand partnered with BAYC to print one-of-a-kind NFTs onto luggage and crossbody bags and soon on international retailers’ websites, by investing in building a new facility equipped with advanced technology and machinery.
As reported, in December the SHIBArmy was adding around 600 new holders per day, even amid the ongoing crypto bear market. The figure is down from around 1,500 new wallets holding $SHIB earlier this year as the slowdown in the cryptocurrency space has also been affecting trading volumes and retail investors’ interest in the space.
Image Credit
Featured Image via Pixabay
