The Shiba Inu (SHIB) memecoin team has submitted an application for a ".shib" domain, which operates on the domain name system (DNS) of the internet.

Internet domain company D3 stated in a Dec. 19 X (formerly Twitter) post, "We're partnering with @ShibToken to apply for and obtain the.shib Top-Level Domain (TLD)." D3 is especially concerned with next-generation domains that facilitate Web2 and Web3 interoperability.

Current Web3 names like ".crypto" and ".eth," according to D3's website, don't function natively with widely used internet tools like web browsers and email because they don't use the DNS.

However, Web3 tools like wallets and digital identity solutions are incompatible with Web2 domains like ".com" and ".net," which function through the DNS.

The Shiba Inu memecoin's holders would be able to create email addresses with the ".shib" suffix attached if they were approved. According to D3, it would work with standard email programs.

D3 has to submit an application to the Internet Corporation for Assigned Names and Numbers, or ICANN, a nonprofit organization with headquarters in the US that establishes and maintains regulations pertaining to internet identifiers.

In addition, the internet domain company intends to introduce "name tokens" for SHIB users, which will eliminate the need for lengthy, alphanumeric wallet addresses when transferring digital assets to different blockchains.

According to CoinGecko data, the price of SHIB did not react to the news, declining less than 1% since D3 shared the announcement.

Sources:

https://cointelegraph.com/news/shiba-inu-plans-launch-shib-domain-for-holders

https://twitter.com/D3inc/status/1737187336184553638

https://twitter.com/ShytoshiKusama/status/1737146139387060680

https://twitter.com/D3inc/status/1737187336184553638

https://d3.app/shib