Steven Cooper, the founder of Bigger Entertainment, a crypto record label, has informed the Shiba Inu community of a new SHIB burning app named SHIBFIT, which the company is currently developing for the SHIB community.
According to Cooper in a post about two days ago, SHIBFIT App will burn SHIB tokens as much as users burn calories. In the update, Cooper said that the development of the App is already costing his firm about $20,000.
Read Also: Here’s Why Bigger Entertainment Founder Is Ending Sales of SHIB Burn Party Tickets
Steven Cooper tweeted, “Some positive news… We officially put our deposit down for the SHIBFIT app. Development has started. This is costing our company close to $20k so I don’t want to hear anymore talk about how we’re not doing our part. Lets build something great for SHIB.”
It can be recalled that Cooper announced the indefinite suspension of the sale of SHIB burn-party tickets in order to save the reputation of his crypto record label, Bigger Entertainment. Back then, he promised that the company will come out with a new SHIB burn strategy.
According to Cooper, Bigger Entertainment aims to see SHIB price rise up to $0.01, which is why the burn must continue.
SHIBFIT App is seen as one of the innovative ways to burn SHIB. The App aims to burn SHIB as much as users would maintain their fitness and burn calories.
The App is designed to serve ads. A percentage of the revenue generated from the ads will be used for SHIB token burn. Howbeit, the percentage is yet to be confirmed by the company.
Read Also: Bigger Entertainment Founder Highlights How Shiba Inu Community Could Quickly Burn 1 Trillion SHIB
According to a blog post published by the company to that effect, aside from the SHIBFIT App, the company is also working on other innovative projects, such as building its first blockchain-based Music Game, MixDraft, NFT Marketplace Expansion, Decentralized Merch, among others. All these are also part of the company’s SHIB burning initiative for 2022.
It’s worth noting that Bigger Entertainment has burned over 1.5 billion SHIB since its first burn, which was initiated in October 2021.
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