Shiba Inu Launch their Metaverse Project “SHIB: The Metaverse”
Shiba Inu (SHIB) team has unveiled their anticipated metaverse project named “SHIB: The Metaverse,” a virtual world that would contain more than 100,000 land plots.
Revealing details of the Shiba metaverse, the Shiba Inu team said there would be 100,595 land plots, some of which will remain private. Land plots will be released gradually and in phases. However, investors are ostensibly not excited by the announcement as SHIB has seen a relatively small move higher.
About Shiba Metaverse
The Plots in the Shiba Metaverse will be divided into four categories of Silver Fur, Gold Tail, Platinum Paw, and Diamond Teeth based on their value. These land plots are priced between ETH 0.2 (USD 680) and ETH 1 (USD 3,400). In the first phase, 36,431 plots will be unlocked.
Notably, the team has priced lands in Ethereum’s native token ETH, saying that they have decided to use “neutral cryptocurrency” as a land pricing token to ensure there is no downside risk to Shiba native coins, and adding:
“Using our Ecosystem Tokens is a risk, as we would need to dump our own tokens price cashing them! And that’s far away from our plans.”
The team also mentioned some of the benefits of buying land in their Shiba metaverse, claiming that landowners would be able to generate passive income, gather in-game resources, and collect rewards.
Shib Metaverse has aluched its crytpto SHIM (Shiba Metaverse) The live SHIM price today is $9.59e-11 USD with a 24-hour trading volume of $416.61 USD. We update our SHIM to USD price in real-time. Shiba Metaverse is up 1.81% in the last 24 hours.
The team detailed that all of their tokens, SHIB, LEASH, and BONE, will play a role in the shiba metaverse as phases roll out. As of now, the only utility for SHIB tokens within the metaverse is that landowners would have to burn some Shiba Inu in order to rename their plot.
“We will be introducing the first special role that Shiba Inu SHIB will play in the Metaverse,” the announcement said. “By welcoming a mechanic to burn SHIB independently while renaming your land plot, furthermore, this should start soon after land events and public sale have ended.”
Meanwhile, there have been mixed reactions among the SHIB community. While some welcomed the project, others criticized some of the developer team’s decisions, particularly the one regarding pricing land plots in ETH.
“It is not good that you are using ETH for selling the land instead of pushing people to use more SHIB,” Emissa.LLC CEO Asaad Hanna said, suggesting that the decision further benefits ETH rather than SHIB.
