Shiba launched 404 concept NFT

Today, some accounts on Twitter posted a unified message about a new 404 concept.

Besides Pandora, is there anyone else in the 404 army who can fight? ?

I have to say that the background this time is a bit big, and the operator behind it is the Shib project party.



△Picture: The fifth item on the way

In October 2021, shib officially issued an NFT called Shiboshis, an image of a male dog, with a total amount of 10,000.

Around Valentine's Day this year, the team issued another NFT called SHEBoshis, Hell's Angels, which is an NFT generated from 20,000 Shiba Inu images and is the companion of the previous male NFT.

The previous generation NFT, that is, Shiboshis holders can receive it for free. In addition, if it is not collected completely, it will be given to Leash holders, or it will be put on public sale. It is reported that the revenue from the public sale is around 600 ETH.

It is revealed that at some point in the future, Shiboshi and SHEboshi will be able to mate.

In fact, problems arose during the launch of the new NFT. Due to a loophole in the contract deployment by the Shib project team, the NFT was continuously MINTed. Finally, the official changed the total amount from 12k to 20k.



Currently, the price of a single NFT is around 0.2ETH. No drawing.

If calculated based on 0.2 ETH, the total market value of 20,000 is approximately US$12 million.

According to the data from www.dextools.io, on Uniswap, its code is SHEB, which has just been online. Prices fluctuate greatly. Lack of liquidity. It seems that the official has not added liquidity to the pool.

What is different about this generation of NFT is that it is supported by the DN404 protocol.

The so-called DN404 protocol is characterized by solving the conflict between ERC20 and ERC721 on the interface of the same name. It is an improved protocol of the previously popular ERC404 protocol. However, some comments said that there is no essential difference between the two and they only solve some minor and minor problems.

In any case, the DN404 protocol is also a member of the 404 protocol family and belongs to the new "graphic and currency-in-one" NFT narrative brought about by Pandora.

Why adopt this new protocol? Shib officially wrote an article saying: "ERC-404 is the latest hot spot causing a stir in the blockchain field. Imagine a world where the ideas of ERC-20 and ERC-721 inherit the best features of both. This new The experimental standard aims to bring a fresh twist to the token scene by combining the concepts of fungible tokens with non-fungible tokens (NFTs). The result is an experimental hybrid token standard that allows for fractional ownership of NFTs, Opening the floodgates to new possibilities. Although still in its infancy, this token standard solves one of the major issues facing the NFT space: liquidity. ”

How will this project with the 404 halo develop? It’s still unclear at the moment, and from a social influence perspective, it’s relatively mediocre.

I have to say that it is worth paying attention to, it has at least a few highlights.

First, it brings the "buff" bonus of Shib and 404, and this is also the fifth new project released by Shib officials in the past two years. Let’s see how the Shib project team plays and what super powers it has.

Second, except for Pandora, most projects in the 404 protocol are weak, weak, and have little voice. Look how this Shiba Inu is doing.

Third, the latest news, Lookonchain monitoring shows that the Pandora team minted 100 PANDORA (worth approximately $1.8 million) 5 hours ago and transferred it to Wintermute Trading. This means that Wintermute Trading may have become the market maker of PANDORA. PANDORA became popular overnight and is highly anticipated. If it can enter the major centralized trading exchanges, it may be able to drive the entire 404 protocol.

Fourth, it did not attract widespread attention and was not reported by the media. But KOL @BTCdayu, who has been paying attention to the 404 protocol, tweeted today and mentioned the project.