• Shiba INU does not want to be Just a Meme Coin
• The NFT market in the SHIB ecosystem
• Automobile industry Guys and the NFTS
• Automobile Brands Metaverse

Shiba INU does not want to be known as the meme coin.  They are trying to be useful, more useful and even more useful.

Shiba community are trying to identify themselves with useful initiatives and new Apps.

SHIB might probably partner up with Lamborghini. There is no official information from Lamborghini; however, media reports point to the name.  This could also be wishful thinking that Shiba INU and Lamborghini do something impactful together.

Reportedly, this vision/wishful thinking has been passed on to the Shiba INU Code Team – if something like that works out this can be very impactful for Shiba INU. There are no specifics about what kind of relationship SHIBA INU is prospecting to share with Lamborghini.

SHIBA has been doing some noteworthy stuff by joining the NFT Bandwagon and they have released more than 10,000 adorable works to the community. The NFT market in the SHIB ecosystem has produced several NFTs costing millions of dollars.

This is not the first time that someone from the automobile industry is trying to venture in to the ecosystem.

Reportedly, according to Bitcoinist, “a Mercedes-Benz car was also featured as an ERC-1155 token on the Ethereum blockchain, which was successfully encrypted and sold on rollapp.store.”

It has been published in media outlets that several other, automakers’ models like Nissan GT-R, Nissan GT-R NISMO, and Rolls-Royce, are encrypted and sold on NFT exchanges

Audi and Volkswagen, have also launched a variety of NFT collections.

So, all brands who are using NFTs will venture in to Metaverse for their brands too!

Why NFTs for Automobile Industry?

The automobile industry is looking at several value additions if they associate their brand with NFTs. Peter Gaffney in his Security Token Market Blog stated the following:

• It will become easy to cut down on fraudulent practices and replica items which will in turn help consumers to be sure they are using the authentic product. Thus, saving a lot in legal charges and reputational costs for the producer trying to defend their brand and IP rights.
• Assurance of authenticity will help improve producer profits thus facilitating extra checks and verification on products. Producers of automobiles will be able to charge a premium for specialty parts and vehicles that have NFT stamps

• NFTs which have the blockchain verified data will sticks on with the vehicle or part of the vehicle for a lifetime – it will improve safety measures and will also be useful in deciding the appropriate price when reselling.

• A recall is issued when a manufacturer or NHTSA determines that a vehicle, equipment, car seat, or tire creates an unreasonable safety risk or fails to meet minimum safety standards. Thus, vehicle or part recalls can be done using NFTs, which can be specifically targeted using NFTs
• Odometer readings can be associated with NFTs using meta-data
• Swaps of vehicle parts can be identified using NFTs
• Buyers of automobiles can receive NFT contract ID to ensure they are buying the proper product.

NFTs from the part of the automobile manufacturer can vouch for lot of cost and safety issues.  This can help secure buyers and sellers from bad actors in car spare parts resale space.  Record keeping will be more accurate.