SHIB's Blockchain Gaming Push Opens Pathway To Supply Burn, Price Ramp

The popular meme coin Shiba Inu is on the cusp of major changes that are expected to broaden its use and push up its price. Lead developer of the SHIB team, Shytoshi Kusama, recently talked about the possibilities of a Shiba Inu NFT game but an important, if not much discussed, aspect of this venture is the sizable reduction in the token's supply.

Kusama announced that the former Vice President of Technology at Activitison, William David Volk, will be joining the team as a consultant for the Shiba Inu Shiboshi NFT game. The lead developer also said the team had partnered with a major AAA studio for the game's development.

For this game to be launched on the Android and iOS platforms, the gaming arm of the decentralized protocol will have to become a corporation and comply with multiple rules. But this will provide a real-world use case to SHIB — other than just being a meme coin, even if its fans call it the "Dogecoin killer" — as it opens a door to metaverse possibilities for the coin.

"Now listen, at first glance, burning Shib seems to be the only way that Shib will grow, but by this time next year, you'll see that being able to spend Shib has its place in total world Shibanation," said Kusama in his blog.

The huge supply of SHIB tokens is a major reason why the platform lacks growth and usage. Currently, the SHIB supply is burned only when an owner of a Shiboshi NFT changes the name of the NFT by paying $100 in SHIB. Shiboshi is a series of 10,000 unique NFTs that was recently released on ShibaSwap.

Kusama said that the in-app purchases made from the Shiba Inu game would be used to reduce the supply of the token by burning a sizable amount of SHIB.

This reduction in the supply of the token might be the boost that the meme coin needs. After the lead developer revealed the Shiba Inu Game and the possible reduction in the supply of SHIB and LEASH, the sentiment on the token turned bullish and its price bounced up.

As of 1:56 a.m. ET, the token was 48.23% lower from its all-time high witnessed Oct. 28 and trading at $0.000046. But data from CoinGecko shows that the token has risen by 10% in the last seven days, touching a weekly high at $0.00005435 for the week starting Nov. 29.