The famous meme-coin Shiba Inu (SHIB) has announced that holders of its cryptocurrency can soon purchase real estate in the SHIB Metaverse with it. SHIB tokens may now be used to establish land parcels in the recently launched virtual reality project SHIB: The Metaverse, according to the Shiba Inu team on Twitter.
What is SHIB: The Metaverse
In SHIB: The Metaverse, land parcels will gradually become available. On April 13, 36,431 plots were unlocked in the first stage of development, which divided the soil into four categories: Silver Fur, Gold Tail, Platinum Paw, and Diamond Teeth at prices ranging from 0.2 to 1 ETH.
Approximately 100,595 plots of land are for sale in the Shiba Inu metaverse.
Initially, only ETH was accepted to purchase real estate. Customers may now not just buy but also modify their virtual property thanks to SHIB’s participation in the metaverse project. In the SHIB Metaverse, property owners will be able to generate passive income, gather in-game materials, and win rewards.
Is SHIB Gaining Back in the Market?
Despite the misconception that SHIB is a simple meme coin sparked by Doge’s enthusiasm and Elon Musk’s tweets, the SHIB ecosystem has expanded to include
NFTs and Defi-platform ShibaSwap. The SHIB ecosystem also includes subsidiary tokens such as LEASH and BONE, which developers anticipate will have a more significant role in the metaverse project as it advances.
The NFT project is the latest development in the SHIB ecosystem, which has seen continuous growth since its launch.
The expansion of the ecosystem to include NFTs and the Defi-platform ShibaSwap are indicative of the team’s commitment to providing a comprehensive suite of services for SHIB token holders.
On April 23, a SHIB burning portal called ShibBurn was launched. It has removed more than 22.5 billion SHIB tokens (about $500,000) from circulation. Since the inception of SHIB, 411.3 quadrillion tokens have been burned, accounting for 41% of the overall supply.