Shiba Inu (SHIB) is powering the world’s first fast-food NFT for Eat Welly burger joint on its network. The first phase of the project went live on June 9 and the mint has already started, and will take place in different stages. It does seem, however, that analysts still have a bearish outlook on SHIB’s price.
SHIB’s new NFT collection is titled “Eat Wellys” and was designed by @chico_rata. The collection consists of 10,000 NFT and each piece has a different combination of attributes. There are a total of 140 attributes that are distributed among all the NFTs.
One of the reasons why this NFT collection is so special is because it is the first collection to be linked directly to a real-world business. The collection is currently available on OpenSea.
After phase one of the mints started on June 9, LEASH and Shiboshi holders minted Welly NFTs, even with their holdings locked in staking. In the last 12 hours of the first phase, BONE and SHIB holders were exclusively invited to mint the Welly NFTs. The second phase of the project will start at the end of the first, and the third phase will consist of a public sale.
Despite the excitement surrounding this NFT launch, analysts still have a bearish outlook on the SHIB price. SHIB is expected to see a 20% price drop as analysts are convinced that the descending triangle has been confirmed on SHIB’s chart.
At the moment, SHIB is worth $0.000008715 after a 15.25% drop in price over the last 24 hours.