Shiba Inu (SHIB) can now be used to pay for Netflix and Spotify monthly subscriptions thanks to payment gateway NOWPayments' recurring invoicing tool. Businesses that also run subscription services can now allow their clients to pay for subscriptions in SHIB with the tool.
Got a lot of subscriptions? Monthly @netflix and @spotify?— NOWPayments (@NOWPayments_io) December 27, 2022
⚡️ How cool would that be if you could pay for those with $SHIB by @Shibtoken?#SHIBARMY, here’s how to accept #crypto payments with #SHIB
Individuals or businesses could also make use of NOWpayments' recurring custodial payments, which allows them to set up separate billing accounts for users or customers and let them top up these accounts with the cryptocurrency of their choice as a payment method.
SHIB use cases for payments continue to grow, ranging from car dealerships accepting SHIB to a whole metaverse, which Shiba Inu is actively developing.
As reported by U.Today, SHIB holders can use their assets to buy luxury cars, including popular car brands Aston Martin, Bentley, Koenigsegg hypercars and Karma Automotive, through Exclusive Automotive Group (EAG)'s partnership with BitPay.
However, the existing use cases are insufficient to meet the needs of SHIB holders, and more businesses still need to integrate SHIB payments.
SHIB burn rate jumps 68%
According to the SHIB burn website, the Shiba Inu burn rate is up 68%, as millions of SHIB are sent to dead wallets. In the past 24 hours, over 22,465,336 SHIB tokens have been burned, and eight transactions have been made.
At the time of writing, SHIB was trading down 3.8% at $0.0000079, in line with the general crypto market declines. Expectations remain as users anticipate the debut of Shibarium in 2023, in line with the Shiba Inu lead developer's announcement of the Layer 2 solution launching "soon."