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The metaverse is set to be developed in Shibarium, which is a layer 2, or companion, system for SHIB. The SHIB token was trading flat near 0.00002274 at press time. Developers previously hinted that Shiba INU will be entering the metaverse in early February.
There are more than 100K plots featured in Shiba Metaverse. SHIB developers have decided to use Ethereum (ETH) as the token to fix for land pricing. So, the 100,595 plots will be priced in terms of ETH. Some of the plots in the Metaverse are set to be private.
The land plots will be released in phases. Initially, a total of 36,431 plots under four different categories like Silver Fur, Gold Tail, Platinum Paw and Diamond Teeth and priced between 0.2 ether (ETH) to 1 ETH.
Ethereum is considered to be a neutral currency and thus there will be no downside risk to Shiba Inu Native coins. Developers stated that it can be risky to use their own ecosystem tokens as they will have to dump their own tokens.
Land holders will be able to generate passive income by collecting in-game resources, eventually generating rewards.
Further, landowners will be able to rename their plots while burning dog-themed SHIB tokens.
What is the role of SHIB in the metaverse? SHIB will be playing a special role in the Metaverse. There is a mechanism to burn SHIB independently when a land is renamed to a new plot or gets sold to a new owner. The burning process for the respective SHIB will happen soon after the public sale and land events end.
The rest of the SHIB ecosystem coins like LEASH and BONE will also have roles to play as the different phases are rolled out. Reportedly, developers have stated that LEASH holders will be able to purchase lands in later stages.
So, that is all the niceties about the new metaverse.
Shib expressed: We are happy to welcome you to SHIB : The Metaverse. An immersive experience that is positioned to become a massive environment for the ShibArmy to grow, share, and benefit together.
Some exciting response about the development read like:
- Time to go to the moon now.
- Shiba Inu’s largest whale’s holdings have doubled in the last 24 hours.
- Are we not seeing what the whales are seeing? The whales are sure of some development which the overall community is missing.
