Shiba Inu's Metaverse Will Feature More Than 100K Land Plots

Developers have decided to use Ethereum's native cryptocurrency, ether, as a land pricing token.

Mar 31, 2022 at 3:41 a.m. UTC
Updated Apr 7, 2022 at 4:56 p.m. UTC

Omkar Godbole was a senior reporter on CoinDesk's Markets team.

Developers behind popular meme cryptocurrency shiba inu (SHIB) have unveiled details of their virtual reality project "SHIB: The Metaverse," announcing 100,595 land plots, some of which will remain private.

  • Land plots will be released in phases. The introductory stage will unlock 36,431 plots, divided into four categories: Silver Fur, Gold Tail, Platinum Paw and Diamond Teeth and priced between 0.2 ether (ETH) to 1 ETH.
  • The team has decided to use neutral cryptocurrency as a land pricing token to ensure there is no downside risk to Shiba Inu native coins.
  • "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," developers said in the announcement published Wednesday.
  • Land buyers will be able to generate passive income, gather in-game resources, and generate rewards, which the team said it will reveal soon.
  • Landowners can rename their plot while using and burning the dog-themed SHIB token.
  • "We will be introducing the first special role that shiba inu $SHIB will play in the metaverse," the announcement said. "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 rest of the SHIB ecosystem coins such as LEASH and BONE will play a role as more phases are rolled out, developers said, adding that LEASH holders will be able to purchase lands in later stages.
  • The metaverse will be developed in Shibarium, a layer 2, or companion, system for SHIB.
  • The SHIB token was flat, near 0.00002274 at press time. Developers hinted at a foray into the metaverse in early February.
The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Omkar Godbole was a senior reporter on CoinDesk's Markets team.

CoinDesk - Unknown

Omkar Godbole was a senior reporter on CoinDesk's Markets team.

Trending

1
CoinDesk - Unknown
Sequoia's Guide to Surviving the 2022 Bear Market

Venture capitalists have gotten increasingly frantic over the last few months.

Venture capitalists have gotten increasingly frantic over the last few months.

CoinDesk - Unknown
2
CoinDesk - Unknown
NFT Art Museums Are a Good Idea

The metaverse turns galleries global, and helps fund the arts. This article is part of “Metaverse Week."

The metaverse turns galleries global, and helps fund the arts. This article is part of “Metaverse Week."

CoinDesk - Unknown
3
CoinDesk - Unknown
How the US Can Establish Itself as a Crypto Leader

Regulators have an opportunity to map out thoughtful, strategic policy on stablecoins and beyond.

Regulators have an opportunity to map out thoughtful, strategic policy on stablecoins and beyond.

CoinDesk - Unknown
4
CoinDesk - Unknown
No, the UK Is Not Going to Make USDC and USDT Legal Tender

For “legalize” read “regulate.”

For “legalize” read “regulate.”

CoinDesk - Unknown