The developers of Shiba Inu (SHIB) have announced that a metaverse is currently in development. The name of the metaverse should be revealed later this month, but we already know that plots of land will soon be available for sale. Auctions will initially be restricted to LEASH token holders
Shiba Inu takes its first step into the metaverse
Without revealing the name, the developers of Shiba Inu (SHIB) announced via a tweet the future implementation of a metaverse dedicated to the universe of the “Dogecoin Killer”. According to the blog post, the virtual universe would be in the first phase of development.
According to the blog post, the virtual universe is in the early stages of development and plots of land called “Shiba Lands” will be made available for sale in the near future as a precursor to the official release of the project.
New Blog: A METAVERSE Story that begins… with an update!
Introducing Lands, a queue system, and more!
$LEASH holders will be the first to gain access to Shiba Inu Metaverse Lands.Read more… https://t.co/S758ClAbRC
– Shib (@Shibtoken) February 8, 2022
For the plot auctions, a queuing system will be set up for LEASH token holders to deter bots from buying pieces of land at low prices and selling them for more. Once the first auction phase is over, other plots will be available for purchase in a more traditional way.
More information is expected to be released later this month, including the name of the metaverse and possibly further announcements about the benefits of buying land to convince potential buyers.
“Owning a piece of Shiba real estate will bring you a multitude of benefits! We are not stopping, this is just the beginning.” – The Shiba Inu Team
What impact on the market
As usual, Shiba Inu related tokens are responsive to announcements. For this one, it was LEASH that saw its price jump 66.77% over 12 hours after the announcement of the metaverse, reaching the price of $1831.
LEASH price development after Shiba Lands announcement (Source: TradingView, LEASH/USDT)
Currently, the Shiba Inu ecosystem consists of 3 tokens: the SHIB, the BONE and the LEASH. The BONE is the governance token of the network and allows its holders to vote on which projects will be created or not. The LEASH was intended to be a token of adjustment for the Dogecoin (DOGE), but the idea was abandoned and it is now a simple ERC-20 token.
As for SHIB, the project’s central cryptocurrency, it currently has a market capitalisation of $18.1 billion, placing it in 13th place just behind DOGE.
Its price is currently $0.00003304, up 51.8% over 7 days.
