Shiba Inu powers NFT collection invites holders to dine in the metaverse with Welly
- Shiba Inu powered the first NFT project with rewards from fast-food store Welly.
- Mint for the fast-food project powered by Shiba Inu was started on June 9, 2022.
- Analysts predict a further decline, a 20% drop in Shiba Inu price, as the meme coin fails to recover.
Shiba Inu powered the world’s first fast-food NFT for burger joint Welly on its network. Phase one went live on June 9, 2022, and the mint has started. Analysts remain bearish on Shiba Inu price recovery.
Shiba Inu invites Web3 users to eat fast food in the metaverse
Shiba Inu’s “Eat Wellys” NFT collection is designed by @chico_rata. The collection features 10,000 NFTs, each with different attributes and combinations. A total of 140 attributes, normal, rare and unique, are distributed among the NFTs, and the minting will take place in different stages.
Phase one of the mint started on June 9, 2022, at 8:00 PM UTC and over a twelve-hour period, LEASH and Shiboshi holders minted Welly NFTs, even if holdings were locked in staking. In the last twelve hours of the phase, BONE and Shiba Inu holders have exclusively been invited to mint the fast-food NFTs. Phase two starts at the end of phase one, and phase three will be a public sale.
The NFT project is special as it is the first collection directly linked to a real-world business, the Welly food joint, powered by Shiba Inu. The collection is available for sale on OpenSea, a peer-to-peer marketplace.
https://t.co/t0nFXv4Ib6
— WELLY (@wellyfriends) June 9, 2022
MINT NOW pic.twitter.com/UQxLvWZWXn
Analysts reveal bearish outlook on Shiba Inu
Despite the launch of the unique NFT collection and the upcoming upgrades in Shiba Inu, analysts have a bearish outlook on Shiba Inu. Shiba Inu price could fail to recover from its recent slump.
FXStreet analysts evaluated the Shiba Inu price trend and predicted a 20% price drop in the meme coin. Analysts believe Shiba Inu price has confirmed the descending triangle pattern, a bearish indicator and the meme coin could witness a 20% decline in its price. For more information, watch this video:
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
