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.

AccessTimeIconMar 31, 2022 at 3:41 a.m. UTC
Updated May 11, 2023 at 6:44 p.m. UTC

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.


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Omkar Godbole

Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.