Since Buterin burnt 410.24 trillion Shiba Inu (SHIB) tokens, introducing the network to the deflationary mechanism, there have been over 1,000 independent burns.
In Q4, Bigger Entertainment, the music publishing group associated with the first crypto-based record label, became a significant part of the SHIB Burn Story.
Steven Cooper, the owner of Bigger Entertainment, who is also an avid Shiba Inu supporter, announced that his company will burn $100,000, or approximately 2.95 billion SHIB tokens. The burn will happen while the company builds the ultimate crypto music game, ‘MixDraft.’
Bigger Entertainment intends to raise the necessary money to develop the game by selling $6 postcards; $ 1 from every postcard will be used to burn SHIB. Cooper tweeted;
Together, we’re going to burn $100,000 in #shib while simultaneously building the ultimate crypto music game. We know this campaign isn’t for everyone, but for the community that trusts & believes in what we’re building, this is for you! Learn more at https://t.co/X4gsvL0ww4— Steven Cooper (@iamstevencooper) December 30, 2021
The company recently outlined its roadmap for burning Shiba Inu in 2022, after burning 176 million SHIB tokens at their December 26th Christmas party.
Shiba Inu to Have App That Burns SHIB Alongside Calories
Alongside the burning of 2.95 billion SHIB, Steven Cooper announced that his company plans to launch a Fitness App for Shiba Inu. According to Cooper, the app will burn SHIB tokens as users burn calories.
The idea for the app was first suggested by ‘Ask the Doctor,‘ a Canadian healthcare provider, however, Cooper recently announced that Big Entertainment would be developing it instead.
On The Flipside
- One time leading supporter of Shiba Inu, Ask the Doctor, has turned against the project, filing a lawsuit against the asset and naming it a scam.
Why You Should Care
The deflationary mechanism adopted by Shiba Inu will reduce the amount of SHIB in circulation. Shiba Inu hopes to see the price of SHIB increase as its scarcity rises.
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