Shiba Inu Marketer Promotes Shiboshi NFTs to Community

The team behind the Shiba Inu ecosystem believes that Shiboshi non-fungible tokens (NFTs) could open up passive income opportunities for the Shiba Inu community.

While engaging the SHIB community on X, a promoter of the meme coin asked the community to identify a past quote made by the pseudonymous Shiba Inu developer, Shytoshi Kusama.

Kusama made the quote, “You think floor [price]; I think passive income for life” three years ago. He made the quote while responding to growing concerns around the launch of a Shiba Inu NFT project known as Shiboshis.

"You think floor ( price) ; I think passive income for life."
Do you know the author of this quote? 🤭
Tag him!

— 𝐋𝐔𝐂𝐈𝐄 | SHIB.IO (@LucieSHIB) March 12, 2024

At the time, some community members expressed concerns about Shiboshi’s roadmap and management.

Shiba Inu NFTs Present an Opportunity for Passive Income

Some members of the Shiba Inu community have expressed concerns about the potential of the project and the performance of Shiboshi NFTs in comparison to Doodles NFTs. The two projects launched a few days apart, with the Doodles NFTs recording more trading volumes and a higher floor price.

In the last 30 days, Shiboshi NFTs have recorded trading volumes of $282K, which is a 27% decline. In contrast, Doodle’s NFTs have posted trading volumes of $3.8 billion in the last 30 days according to CryptoSlam. This contrasting performance has seen Shiba Inu community members prefer Doodles NFTs to Shiboshis.

Despite Doodles NFTs lacking the brand recognition of the Shiba Inu ecosystem, they continued to outperform Shiboshis, with the community now saying that this trend was concerning.

This concern has previously been addressed by Shiba Inu’s pseudonymous lead developer, Kusama, who said that Shiboshis presented an opportunity for holders to generate passive income. Unlike other NFT collections, Kusama noted that these NFTs offered better value than others that simply existed to deliver immediate gains.

Shiba Inu Ecosystem Is Gaining Value

Some members of the Shiba Inu community appeared to agree with this analogy. Some said that Kusama’s viewpoint was that the entire Shiba Inu ecosystem could be used as a potential source of passive income by token and NFT holders. The Shiba Inu ecosystem comprises the SHIB meme coin, Shiboshi NFTs, and Shibarium.

One of the recent catalysts for growth in the Shiba Inu ecosystem is SHEboshi. SHEboshis NFTs sold out within five minutes after the project announced a second minting phase.

Another factor that is also driving value for the Shiba Inu ecosystem is the ongoing bull market in the cryptocurrency industry. SHIB, the second-largest meme coin by market capitalization, is one of the best performers in the ongoing bull run.

Meme coins have been in a frenzy and SHIB has not been left behind. The meme coin has gained by double-digits since the start of the year.