Connecting cryptocurrency’s financial application to retailers has become one of the hottest trends in supporting the adoption process. Startups and new businesses have begun to develop strategies that will make cryptocurrencies acceptable and usable for any business wherever in the world. Shiba Inu’s (SHIB) growth and acceptance is a perfect example of how small businesses have come together to promote mass adoption.
We’ve seen countries declare Bitcoin to be their legal tender, and major multinational corporations begin to accept and invest in cryptocurrencies. One of the most visible results of global product competition has been an increase in the number of payment channels available for delivering services.
How is NOWPayments helping Shiba Inu?
NowPayments has built a unique technique of confidence in the acceptance of digital assets for merchant services. The platform has a new SHIB & LEASH optional burn feature that helps merchants to not only contribute to the Shiba Inu ecosystem but also burn a part of their profit.
NOWPayments have not only welcomed Shiba Inu (SHIB) as a payment option for merchants, but they were also eager to design solutions and implement them in order to accommodate the community’s burning mechanics needs.
NowPayments is working with Welly’s, Sorbillo’s, and John Richmond to establish full integration of $SHIB and $LEASH payments into their standard of digital asset acceptance, and much more so now that the latest feature, a percent burning on each transaction, has been implemented.
Gino Sorbillo was one of the early supporters of SHIB. The Sorbillo Pizza place offered a 5% discount to all members of the community.
WELLY’s partnership with Shiba Inu was announced in early February. SHIB’s premiere foray into IRL (in-real-life) ventures was presented as a new hyper-quality agile blockchain-based fast-food chain.
John Richmond, on the other hand, took Shiba into the world of high fashion. This collaboration saw the creation of Shiba Inu’s very first Non-Fungible Token. The plan is to have 10,000 SHIB-themed NFTs that will be displayed at the Milan Fashion Week 2022.
Shiba Inu currently has 112 businesses listed on its directory. Of these only 3 are currently using NOWPayments’ new burn mechanism. This is a less than 1% use case. This number, however, is expected to increase dramatically in the near future. The number of businesses that accept Shib is growing on a daily basis, and it wouldn’t be surprising to see them incline towards using NOWPayments, to further support the community.
Shiba Inu’s partnership strategy is proving to be a great way to bring businesses together and push for a larger SHIB adoption movement. Shiba Inu has seen a lot of growth in the short time that it has been here, and its future sure looks promising.