Amid reports that Shibarium — the Ethereum layer-2 blockchain affiliated with the Shiba Inu (SHIB) meme coin — is witnessing declining transaction activity, a team member of the SHIB ecosystem on Sunday took to X (formerly Twitter) and outlined the steps to buy Shibarium-based non-fungible tokens (NFTs).
Launched in August last year, Shibarium has shifted its focus on metaverse, gaming, and decentralized finance (DeFi) applications recently — evidence that the Shiba Inu ecosystem has come a long way from its origins as a meme coin.
Shibarium Emerges As NFT Hub
Furthermore, Shiba Inu’s Shibarium is home to a variety of NFTs, which demonstrates the network’s utility. Among the NFT collections that have launched on Shibarium thus far include ColonelCoup, and Shib Dream NFT.
As the buzz around Shibarium-based NFTs intensifies, a Shiba Inu ecosystem member — who goes by the moniker “Lucie” on X — shared a step-by-step guide on the social media platform, explaining to the Shiba Inu community members how they can buy these digital assets.
How To Buy Shibarium NFTs: Explained
According to Lucie’s post, users willing to buy Shibarium NFTs first need to ensure they’ve Ethereum (ETH) in their wallets, along with any Shiba Inu ecosystem asset, such as SHIB, BONE, or LEASH. The next step is adding the Shibarium network to their Web3 crypto wallet using the wallet’s browser extension.
While explaining the process, Lucie referred to BONE ShibaSwap (BONE) as the preferred digital asset. However, the steps will remain the same if one wants to use another Shiba Inu ecosystem asset.
Upon adding the network, users need to bridge their BONE tokens. To do this, users can visit the Shibarium Staking platform, where they will come across several Shibarium-based NFT marketplaces, such as Mantra Protocol. Then, users can select an NFT of their choosing and purchase it using BONE. The prices of NFT collections available on Shibarium are anywhere between 10 to 10,000 BONE tokens.
Beyond sharing the guide, Lucie also hailed Shibarium-based NFTs for their low transaction fees, saying users are required to pay as low as $0.01 in fee on each transaction.
This comes at a time when Shibarium is experiencing a decline in trading activity, with its transaction count falling to $5.69 million from an average of 7 million in the past 30 days. This has resulted in a decline in SHIB price, which has fallen nearly 9% in the last seven days to $0.00000
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