By
Chimamanda U. Martha
April 25th, 2024
Meme crypto platform Shiba Inu plans to launch a metaverse project featuring over 100,000 land plots at tiered ETH prices.
Shiba Inu (SHIB) is set to release a virtual reality project that involves real estate allocation in the emerging metaverse. Dubbed “SHIB: The Metaverse,” this initiative will feature up to 100,595 land plots, although some will remain private. Regarding the metaverse-inspired project, Shiba Inu posted an announcement on its official Twitter which reads:
“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.”
In a March 30th blog post, the developers behind the meme digital currency also revealed details of the project. According to the platform, the overarching mission of SHIB: The Metaverse is to achieve “one of the strongest communities ever gathered in all of the crypto’s history.”
Insight into The Shiba Inu Metaverse Land Structure & Pricing
SHIB’s new metaverse initiative partly draws inspiration from Decentraland and will reportedly compete with the 3D virtual world browser-based platform. In addition, its land plots will be released in phases, with Ether (ETH) as a pricing token. According to the SHIB development team, it chose ETH because it wanted a neutral token for land pricing. The team said:
“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 introductory land stage unlocks 36,431 plots, divided into four categories, namely Silver Fur, Gold Tail, Platinum Paw, and Diamond Teeth. In addition, each land tier will also feature four districts, namely Growth District, Defense District, Technology District, and the Currencies District. Depending on the tier, pricing will range from 0.2 ETH to 1 ETH, with the proper allocation as follows:
0.2 $ETH for (Level 4) Silver Fur
0.3 $ETH for (Level 3) Gold Tail
0.5 $ETH for (Level 2) Platinum Paw
1 $ETH for (Level 1) Diamond Teeth
Insight Into the Shib Metaverse User Functionality
The SHIB project will accommodate the entire Shiba ecosystem, with $SHIB, $LEASH, and $BONE tokens. These tokens will come into play upon successful implementation of certain project phases. Furthermore, land buyers will enjoy several in-game functionalities that the SHIB team intends to reveal soon. Some of these include generating passive income, gathering in-game resources, and accruing rewards. In addition, landowners can also rename their plots while using and burning SHIB tokens. As the development team put it:
“…We will be introducing the first special role that Shiba Inu $SHIB will play in the Metaverse. 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.”
The SHIB: The Metaverse will be available in “new implementations like” Shibarium, a Layer-2 (L2) solution for SHIB.
As of press time, SHIB was changing hands at $0.00002768.