Floki Inu is one of the dog-themed meme coins on the market. It originated in June 2021 when Elon Musk tweeted that he is naming his Shiba Inu Floki. It was then brought to life by members of the Shiba Inu community where Jackie Xu took on the role as a lead developer. Floki Inu’s website states that “FLOKI isn’t your average cryptocurrency. It is the people’s cryptocurrency. A movement.”
The Floki Inu ecosystem consists of a number of NFT portals, including Floki Diamond-Hands NFT Portal, Floki Inu Ruby NFT Portal, and Flokitar. It is planned to be further expanded to include an NFT gaming metaverse, Valhalla, and marketplace. FLOKI was originally launched on the Ethereum blockchain and then later introduced on the Binance Smart Chain, accessing the BSC community and reaching more users. The multi-chain protocol allows FLOKI holders, called Floki Vikings, to utilize the ETH-BSC bridge for 1:1 swaps with no transaction tax. Users can also earn rewards for holding FLOKI by receiving more tokens with each transaction. Such a reward system is reflationary and contributes to FLOKI’s hyper-deflation mechanics.
In November 2021, Floki Inu partnered with Shopping.io, a platform linking cryptocurrency and eCommerce, to allow FLOKI holders to spend their tokens on Amazon, eBay, Walmart, Home Depot, and Etsy. The Shopping.io platform supports both versions of the token and makes the process of purchasing goods with cryptocurrency more simple.