Mercari, the largest flea market in Japan, just announced the addition of Shiba Inu (SHIB) to their ecosystem. This allows SHIB Army members in Japan to sell second-hand items in exchange for points or cash that can be instantly swapped to the popular Japanese dog-themed meme coin.
Shiba Inu Recognized as a National Treasure?
Japan has one of the most vibrant Shiba Inu (SHIB) communities outside of the United States (USA). From now on, traders on the Mercari marketplace are able to scale Shiba Inu (SHIB) in every-day transactions: the meme coin’s price is cheap enough to be used in micro transactions from one yen.
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On the other hand, Shiba Inu’s (SHIB) market cap is big enough for it to be used in this type of environment. Just short of $3 billion, the market capitalization could grow along with the platform’s usage – Mercari said the platform has around 4 million active users with the majority of them having little to no trading experience.
This opens up a new opportunity for Shiba Inu (SHIB) to be acquired as a digital collectible rather than a speculative asset. For the Millennial & Gen Z audience in Japan, this serves a similar purpose to collecting Pokemon cards or Tamagotchi e-pets. Naturally, Shiba Inu’s mascot is the top emotional trigger – the Shiba Inu dog is a national treasure.
Shiba Inu Joins a Roster Of Top-Tier Currencies
Technically, SHIB’s integration into Japan’s most popular flea market is covered by Coincheck’s API service, dubbed as Crypto as a Service (CaaS). The new deal adds a total of 12 crypto currencies to this gamified ecosystem, including Shiba Inu’s (SHIB) main competitor Dogecoin (DOGE). Coincheck said the functionality is inspired by Banking as a Service (BaaS).
Mr. Keita Nakamura, the CEO of Mercoin, took the center stage in a press conference to reveal that the 4 million accounts on the marketplace are actively using Bitcoin (BTC), Ethereum (ETH) & Ripple (XRP), but in the future they’ll be able to choose from a variety of crypto assets & stocks based on their interests.
Shiba Inu’s recognition as a priority asset comes with the territory – the Japanese Shiba Inu dog breed is deeply embedded in the rich Japanese culture.
Why This Matters
Via the Mercari app, users are able to hold & trade digital assets within the extension of the application – with no trading experience needed, millions of people in Japan can get exposure to the popular dog-themed memecoin without the necessity of learning the basics of crypto trading.
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Japan’s biggest second-hand marketplace app, Mercari (with around 24 million monthly users), added Shiba Inu ($SHIB) to its crypto trading service through its subsidiary Mercoin.
Mercari is a super popular everyday app in Japan. By making SHIB available inside it, the coin gets massive exposure to millions of regular people who might never have bought crypto before.
If you sell something on Mercari and get paid, you can now use that money (or your reward points) to buy SHIB directly in the app. You don’t need to transfer money to a separate exchange.
Not only — Mercari/Mercoin also added other coins like Dogecoin (DOGE) and several others at the same time. But SHIB is getting extra attention because of its strong community and meme status.
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