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Shiba Inu Community to Get Ownership Stake In Fast-Food Joint Welly

According to a recent tweet shared by SHIB-themed fast-food restaurant Welly (located in Naples, Italy), the Shiba Inu (CRYPTO: SHIB) community will now have a 15% ownership stake in its business. 

Benzinga · 04/30/2022 12:30

According to a recent tweet shared by SHIB-themed fast-food restaurant Welly (located in Naples, Italy), the Shiba Inu (CRYPTO: SHIB) community will now have a 15% ownership stake in its business. 

In February, the Shiba Inu team announced that it would partner with Welly. At that time, the announcement drew criticism from the crypto community. 

According to the deal, the SHIB community will be entitled to a portion of the profits from all activities. 

Also, the restaurant said some of the profits in SHIB will be burned, while a portion of the tokens will be used for other purposes. 

Welly has announced that it will burn a certain percentage of revenue received in SHIB tokens. The Shiba Army will handle SHIB’s activities through the BONE DAO

However, Welly has pointed out that the 15% ownership doesn’t include the 10% gross profit, which is given to Welly NFT holders.

At the time of writing, Shiba Inu was trading at $0.00002199, down 2.46% in the last 24 hours and almost 10% down in the last seven days. 

Photo: Welly's official Twitter page