Shiba Inu Plans To Launch 99,000 Digital Plots of Land in Its Metaverse

Key Insights:

• 35,000 digital lands will be accessible only to LEASH token holders
• There will be two phases to the release of the digital plots of land
• Only Ether can be used to purchase or bid on the digital lands

In the past months, metaverses have been trending in the crypto world. Especially when it comes to digital lands. Although digital lands in Decentraland and The Sandbox are the most talked about, Shiba Inu is now joining the competition.

Last month, the team behind Shiba Inu announced that they were entering the metaverse, which they named “SHIBerse”. 

Then, earlier this month, the team introduced “Shiba lands” and gave a hint that LEASH token holders will be the first ones to access the digital lands. As soon as the announcement was made, LEASH rallied over 100% for the next 48 hours.

During a Shiba Inu AMA event hosted by Watcher Guru on Twitter earlier this week, Shiba Inu’s team revealed that it has 99,000 plot lands in its metaverse. Like on other metaverses, plot lands will be available for purchase.

How to Buy Digital Lands on Shiberse?

The sale of the digital lands will be in two phases. The first phase will last 10 days, in which 35,000 digital lands will be available for bidding and purchase only to LEASH token holders. These holders need to lock up their tokens to participate, the more they lock, they will be able to buy on bigger lands.

After the first phase is finished, the second phase begins, where the rest of the digital lands will be released in stages to the public.

The digital lands will be bought only in Ether. A wallet can buy up to 100 plots with a 10 by 10 land. Besides this, Shiboshis NFT holders will have reserved 2,000 digital lands for them.

Could This Have an Impact on SHIB’s Price?

SHIB is the 15th biggest cryptocurrency by market capitalization with $12.01 billion, according to CoinMarketCap. It is trading now at $0.00002193 and it is down 17% in the last 24 hours.

The cryptocurrency is still down 75% from its all-time high of $0.000088 in October 2021. During the past five days, the cryptocurrency has been rejected twice of its resistance of $0.0000275. 

The announcement was made in the early hours on February 23rd, and the price reacted positively until it hit its resistance price and started declining. It is now trading in its support zone around $0.000020, as you can see below:

In the last 24 hours, the crypto market sentiment runs bearish as the situation between Russia and Ukraine only gets worse. The whole crypto market is down 10%, from $1.76 trillion to $1.58 trillion, according to CoinMarketCap.

While the market has a lot of uncertainty about what could happen, most of the coins will follow Bitcoin price movements. 

Earlier this month, a Shiba Inu-themed restaurant opened in Italy. One sure thing is that Shiba Inu’s team is working very hard to keep growing their community and ecosystem.