Shiba Inu (SHIB) has announced that it partnered with luxury brand Bugatti Group to roll out a collection of NFTs and physical items in limited edition.
With the crypto market experiencing a decrease in prices last year, the NFT space was also affected. Since then, NFT trading volumes became extremely volatile, even beginning to decrease. Having said that, NFTs began 2023 on a positive not, as the first week of January had them experience a 26 per cent increase in sales, as compared to the last 7 days of December. Cruptoslam.io reported that in the beginning of 2023, 1.2 million transactions involved NFTs and there were over 400k buyers. The total amount of money invested in NFTs exceeded USD 200 million and 19 blockchains were involved.
Shiba Inu announced on Twitter that it formed a new collaboration with Bugatti Group, the North America-based luxury company. The partnership involves Shiboshis, the NFT collection launched exclusively in the SHIB ecosystem in 2022.
The NFT collection will be introduced in a mint party specially organized by Bugatti Group and it will be meant for genesis holders of Shiboshis non-fungible tokens. As announced by SHIB, this particular collection will feature 299 tokens released in limited edition with a mint price of 0.14 ETH.
The announcement also stated that the vast majority of minters (95%) will also be granted a Cross Body Luggage Bag from the luxury brand. The remaining 5 per cent will be given the chance to receive a carry-on luxury item to place their own design of a Shiboshi NFT. Bugatti, under the new partnership terms, will also provide discounts to its travel collections.