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The cost reduction applies only to generic mana in the total cost of spells you cast with the permission granted by Urianger Augurelt's last ability

Tinybones, Rakdos, Vraska, and more have joined up, and theyve got their eyes on the ultimate score

With black (and white) having the least filtering and card quality they benefit most from cards like this

Since Basim Ibn Ishaq is seeing play in Modern, the card's value is higher than most included in the set, with the Showcase version going for the most due to how much harder it is to obtain than the base (which also has solid value in its own right)

When you play this as a land for your turn, you've essentially drawn a combat trick that can be cast every turn for just two mana: one red mana and the mana you lost by tapping Shinka for its ability