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Shiba Inu Lead Shytoshi Kusama Spotlights Paris Hilton-Linked NFT Drop

In a recent social media post adorned with the eyes emoji, Shiba Inu lead Shytoshi Kusama has spotlighted a non-fungible token drop associated with Paris Hilton.

Kusama responded to Marcie Jastrow, SHIB’s metaverse advisor, sharing a SHiB-themed NFT from the collection.

Congratulations to @RSTLSSxyz@charlicohen@bendidhisbest for their new drop they even did a #shib for us. @mvshib #shibthemetaverse pic.twitter.com/ty6IrtKtzP

— Marcie Jastrow (@marciejastrow) September 29, 2023

“That’s hot”

The new NFT drop, termed “MareBears,” is a collaborative effort between Paris Hilton, Ubisoft, and Charli Cohen.

The collection comprises interactive digital pets, each priced at 0.077 ETH, with a total supply of 15,000.

Hilton expressed her excitement on social media, particularly for a one-of-a-kind “MareBear” with unique Paris traits.

Happy ‘MareBears Day! Public mint is now live. @RSTLSSxyz @CharliCohen

Some details…
✨ Supply: 15,000
✨ Public Price: 0.077 ETH
✨ RSTLSS Holder Price: 0.069 ETH
✨ You can pay via credit or debit card

Here’s the link to mint your ‘MareBears: https://t.co/d60h6uIM8R

(1/3)

— ParisHilton (@ParisHilton) September 28, 2023

Bleak outlook for NFTs

In the meantime, a recent study by dappGambl has shown a stark depreciation in the value of NFTs, with 95% of NFT collections now deemed worthless, marking a significant downturn in a market that once saw a trading volume of $17 billion during a 2021 bull market.

The study attributes this decline to an oversupply of NFTs and a lack of demand, particularly for collections lacking clear use cases or genuine artistic value, with only 21% of NFT collections having full ownership.

Despite the bleak outlook, the study suggests that NFTs could evolve to find specific functional use cases.

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