Last month, the developers behind shiba inu (SHIB), the popular meme cryptocurrency, according to its metaverse. Yesterday, the team finally revealed the first details of this digital world, now called ‘SHIB: The Metaverse’.
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.https://t.co/pwcBSfUSND
— Shib (@Shibtoken) March 30, 2022
The Shiba Inu team will sell no less than 100,595 pieces of digital land as non-fungible tokens (NFT)† The project thus follows in the footsteps of other large metaverse projects such as decentraland (MANA) and axie infinity (AXS).
The sale of the NFT real estate will take place in phases. Part of the digital estate remains private, because these are reserved for, for example, the streets of the virtual world.
Not for SHIB, but for ETH
In the first phase, 36,431 pieces of digital real estate will be put up for sale. This property is divided into four categories: Silver Fur, Gold Tail, Platinum Paw on Diamond Teeth† They are sold between 0.2 and 1 ethereum (ETH)† The team gives the following reason why the estate is selling for ETH instead of SHIB:
“Since we will be using the money collected to pay for the Metaverse development, the team has decided to use a neutral coin that can be sold in stablecoins to pay for all resources.
Using tokens from our ecosystem is a risk as we would have to dump our own tokens to redeem them! And that’s a long way from our plans.”
Investors can generate passive income with this digital real estate. It should also be possible to in-game collect items. How this works exactly, however, remains unknown. What this metaverse will look like also remains unknown. We only know that it runs on Shibarium, a layer-2 scaling solution for the Shiba Inu network.
It also becomes possible to rename real estate by destroying SHIB tokens in a kind token burn† Other shiba inu ecosystem tokens, such as LEASH and BONE, will play a role in the future. With LEASH it should also become possible at a later stage to buy real estate.
The founder of Dogecoin (DOGE), Billy Markus, does not seem to be a fan:
i mean whatever if people wanna give the devs even more money go ahead but if i was a shib holder i would be annoyed
— Shibetoshi Nakamoto (@ BillyM2k) March 31, 2022
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