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 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.

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
Hard Times in Crypto: the Unintended Consequences of Going Public

The third and final reflection on a series of risks we’re thinking about during these crypto down days.

CoinDesk - Unknown
2
CoinDesk - Unknown
After Bitcoin Maximalism

A Twitter debate sparks much reflection.

CoinDesk - Unknown
3
CoinDesk - Unknown
Three Arrows Paper Trail Leads to Trading Desk Obscured Via Offshore Entities

As Three Arrows Capital collapsed under market pressure, its much-lesser known trading desk, TPS Capital, remained active, sources say. But a complex ownership structure might frustrate creditors' efforts to collect.

CoinDesk - Unknown
4
CoinDesk - Unknown
June Was Bitcoin’s Worst Month Ever

Plus, European crypto regulation comes into view.

CoinDesk - Unknown