Shiba Inu has officially announced plans to enter the Metaverse. Entailing virtual plots of land that can be purchased with Ether depending on the type of land desired, Shiba will also allow its users participating in the Metaverse to receive in-game resources, generate passive income, and be entitled to various rewards.
Announcing Shiba´s Plans for the Metaverse
Shiba Inu developers made a massive announcement, informing Shiba enthusiasts that the protocol will soon offer virtual plots of land in the Metaverse. This announcement caused the price of tokens, SHIB and LEASH, to skyrocket as high as 40%. Shiba developers proudly proclaim,
We are happy to announce and proudly introduce Shiba Lands! These “lands” found inside our Metaverse will be available for purchase/auction soon, and it will be our first step towards allowing the community to jump into the Metaverse before its full release!
Through the Metaverse, users can interact digitally with others as they do in the real world. The developers continued,
The Metaverse is set to be one of the most significant areas within crypto for many to enjoy. In contrast, others will produce content, and developers will set up shops using it as another great resource to offer crypto communities incentivization, range, and regular royalties.
The Shiba team and developers have worked hard to develop a version of the Metaverse that will work smoothly for users but, importantly, will also operate pretty. Further, on this point, developers even formulated a strategic plan to prevent bots from getting all the land at low prices. Additionally, Shiba’s virtual lands would use a “queue system,” whereby users would have to earn their place in a queue based on the number of LEASH tokens they hold.
The Virtual Plots of Land
Shiba’s Metaverse—known as SHIB—will feature about 100,000 plots of land. Specifically, 100,595 land plots will be offered, though some are reserved and remain private. These private lands—called “Private Locked”—will contain 4,307.
Also, some lands will stay open to the entire Metaverse—these lands will represent roads (corridors) and consist of “Avenues, Boulevards, and Hubs.” The plots of land will be able to be purchased with Ether. The price will be set at between 0.2 to 1 Ether.
To make the offer of the plots attractive and unique to the public, Shiba will release them in a phased manner. The developers announced that the introductory phase would unlock 36,431 plots of land and reveal a part of four different districts—including the Growth District, the Defense District, the Technology District, and the Currencies District. The first stage will divide the plots of land into four categories:
- “Silver Fur (Tier 4) with 17,030 Lands
- Gold Tail (Tier 3) with 7,356 Lands
- Platinum Paw (Tier 2) with 5,714 Lands
- Diamond Teeth (Tier 1) with 2,024 Lands
Since there are four different types of land, it stands to reason that there should also be different prices for them. Each “Tier” is priced as follows:
- 0.2 $ETH for (Tier 4) Silver Fur
- 0.3 $ETH for (Tier 3) Gold Tail
- 0.5 $ETH for (Tier 2) Platinum Paw
- 1 $ETH for (Tier 1) Diamond Teeth
More than Just Land
This metaverse will developed in the system, Shibarium. By buying a token, landowners will have a say in project expansions beyond voting and governance. On this point, in addition to purchasing plots of land, there are other features that pose several genuine benefits to users. Specifically, SHIB developers are allowing land buyers to “generate passive income, gather in-game resources, and generate rewards.”
Additionally, developers hinted at other potential rights and benefits such as landowners unlocking “new features and privileges.” This is significant because it means that Shiba is adding real value to itself and is, as a result, no longer the “mere joke token” that it started out as.
Shiba Inu has officially joined the club of crypto entities entering the metaverse. Shiba´s metaverse will feature digital plots of land that can be purchased with Ether. The plots of land will be separated into four Tiers with different features and, naturally, different prices. Also unique will be the users´ ability to control future expansion efforts of Shiba as a virtue of merely being a landowner.