Shiba Inu has announced its upcoming release of Shib Names, also referred to as SHIB Name Tokens, marking a significant leap forward in the evolution of identity within the decentralized Web3 space. These unique names, distinguished by a star mark "*", are poised to become the digital passports of the future, offering users a distinct and recognizable identity in the Web3 landscape.

While an estimated timeline suggests availability within the next 2–3 years, Shib Names are anticipated to become the cornerstone of authentic identities in Web3 upon their launch. The pricing structure is projected to range from $10 for basic names to $9,000 for premier tier names, all offered on a single-year term basis.

Registration for Shib Names will be facilitated through the D3 platform, accepting payments in fiat or cryptocurrencies, including Shiba Inu's native token, SHIB. The registration process promises to be straightforward and accessible to users of all levels.

Despite the exciting announcement, the value of SHIB has experienced a slight decline of 4.96% in the past 24 hours, currently trading at $0.0000379. Existing .shib domain names have been seamlessly transferred from the Shib Name Service (SNS) to the new platform, enabling users to claim upgraded names directly from their wallets.

The star mark associated with Shib Names serves as a visual indicator of their exclusive relevance within the Web3 sphere, signaling a user's unified digital presence upon claiming their name.

Beyond their symbolic value, Shib Names offer a myriad of functionalities. They serve as a versatile multichain wallet, enabling users to manage their cryptocurrency assets across multiple EVM-compatible blockchains from a single address. Additionally, Shib Names function as cross-platform Web3 usernames and decentralized identities, facilitating seamless navigation across various industry sectors such as GameFi, DeFi, and social media.

Users have the flexibility to choose unique Shib Names that align with their preferences, whether for anonymity, personal branding, or project identification, reminiscent of selecting a username on traditional social media platforms. This initiative represents a significant step forward in enhancing transparency and trust within the decentralized ecosystem.