Owners of the favored Shiba Inu (SHIB) memecoin can now use the cryptocurrency to buy land in the Shiba metaverse.
On Wednesday, the Shiba Inu staff stated on Twitter that the SHIB token might be used to supply plots in the lately introduced digital actuality challenge SHIB: The Metaverse.
New hit possibility launched at https://t.co/f2oLn05qWk!
Coin is land $SHIB!
— SHIB: The Metaverse (@ShibTheMV) May 4, 2022
SHIB: There are 100,595 completely different areas in The Metaverse. Initially, it was solely attainable to buy land utilizing Ether (ETH). Now, SHIB’s integration into the metaverse challenge not solely lets you buy land, but additionally permits customers to offer extra customization choices for his or her digital lands.
Landlords in SHIB: The Metaverse can earn passive revenue, acquire in-sport assets, and generate rewards, that are but to be revealed.
Lands in the SHIB metaverse will likely be launched in phases. During the introductory interval, 36,431 heaps have been unlocked on April 13, with land divided into 4 classes: silver fleece, gold tail, platinum paw, and diamond tooth, priced between 0.2 ETH and 1 ETH.
Contrary to the favored narrative that portrays SHIB as a mere memecoin pushed solely by hype and Elon Musk’s tweets, the SHIB ecosystem has grown to assist non-fungible tokens (NFTs) and the decentralized finance (DeFi) ShibaSwap platform.
The SHIB ecosystem additionally consists of secondary tokens, together with LEASH and BONE, which the builders say will play an necessary function through the improvement of the metaverse challenge. Owners at the moment taking part in LEASH have precedence entry to land tenders, and BONE is a governance token that permits house owners to vote on selections associated to the event of the metaverse.
According to a latest Unification Foundation Medium submit, SHIB: Metaverse will likely be constructed on Shibarium, the upcoming Layer 2 scaling resolution for SHIB. Public testing for Shibarium is scheduled to launch in the approaching months, with a public beta quickly to comply with.
At the time of writing, SHIB had a quick rally, gaining about 6% in the final 12 hours. Overall, value motion in opposition to the token stays sluggish, with SHIB at the moment down 12.3% over the previous two weeks. The token is at the moment buying and selling at $0.0000218, down 74% from its all-time excessive on October 28 final 12 months.
On April twenty third, the builders launched ShibBurn, a SHIB burning portal, which has already seen greater than 22.5 billion SHIBs, or $500,000 on the time of writing, faraway from circulation. Since the inception of SHIB, roughly 410.32 trillion SHIB – 41% of the entire provide – has been burned.