Cryptocurrency Shiba Inu is now launching its own metaverse, with 100,595 plots of virtual lands. Inspired by a dog meme and posed as ‘Dogecoin killer’, SHIB’s value skyrocketed in 2021 and SHIB developers want to drop the ‘memecoin’ tag with the launch of its own metaverse.
For the uninitiated, Metaverse is not a new technology or a new software, rather think of it as a combination of existing technologies, all complimenting each other into building something called as ‘digital space’.
It should be noted that similar to the real world, the real-estate prices in the metaverse are completely dependent on location, population, and the demand and supply ratio—when there is an increasing demand for a plot in the metaverse in a certain area, then the prices go high automatically.
In the case of Shiba Inu metaverse, some virtual lands will remain open to all in the metaverse. These lands will represent roads (corridors): Avenues, Boulevards, and Hubs, however other lands will be available for purchase.
Creators of Shiba Inu metaverse have termed it ‘SHIB: The Metaverse’. The developers will allow users to buy virual lands through a series of events. Users will have to visit the official Shiba Inu metaverse website. “This new portal will be up and running in the next coming days, and in order for users to begin the process of locking their assets. Once this process is completed, the event should begin shortly after. This is officially your last call previous to the first phase and events engaging with the community,” the SHIB blog read.
The developers of SHIB: The Metaverse highlighted that during the introductory phase of the event, 36,431 plots of land will become unlocked, while welcoming and revealing a part of 4 different Districts: Growth District, Defense District , Technology District, and the Currencies District.
In the first phase, the plots are divided into four categories: Silver Fur (Tier 4) with 17,030 Lands, Gold Tail (Tier 3) with 7,356 Lands, Platinum Paw (Tier 2) with 5,714 Lands, and Diamond Teeth (Tier 1) with 2,024 Lands. There is also a category called HUBS (Private Locked) with 4,307 Lands.
The minimum and fixed prices for each Tier are – 0.2 $ETH for (Tier 4) Silver Fur; 0.3 $ETH for (Tier 3) Gold Tail; 0.5 $ETH for (Tier 2) Platinum Paw; and 1 $ETH for (Tier 1) Diamond Teeth.
Crypto enthusaists will be able to buy the lands using Ether. “We have decided to use a neutral coin that can be sold into stablecoins in order to pay all the sources. 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,” SHIB developers wrote in a blog post.
According to the SHIB developers, every user who owns land in SHIB: The Metaverse will be able to generate passive income, gather in-game resources, and generate rewards. “We will be introducing a unique, and exciting way to earn, while also awarding users to have a personal space in which they will be able to build and manage their own projects,” the blog post added.
Meanwhile, some of the top metaverse projects that have attracted real estate are the Sandbox (SAND), Axie Infinity (AXS), Decentraland (MANA), and Enjin (ENJ).
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