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Sheldon Licenses are a new kind of currency in Splatoon 3. It is only used to purchase weapons at Ammo Knights.
There are two versions of Sheldon Licenses - Standard and Gold.
Standard Sheldon Licenses are gained by levelling up or by reaching certain Freshness milestones with different weapons. A single Sheldon License is required to buy a weapon if the player has the level requirements met, while those with requirements above the player's current level can be brought for an increased price of three licenses.
Gold Sheldon Licenses are currently only obtainable by importing save data from Splatoon 2 into Splatoon 3. However, each Gold Sheldon License allows you to buy any single weapon above your current level at the cost of a single Gold License instead of the normal price, and are always used before normal Sheldon Licenses to buy weapons which are above the player's level.