The Shiba Inu team has finally introduced its highly anticipated metaverse project. It aims to target established players such as Decentraland. In a blog post published on March 30, the team revealed details about the much-discussed metaverse project called “SHIB: The Metaverse.”
Spread my claws
Developers behind the popular meme cryptocurrency Shiba Inu (SHIB) have unveiled their virtual reality project. This virtual world would contain approximately 100,595 parcels of virtual land and four unique districts. In addition, public lands will be put up for sale.
In a tweet, SHIB said†
We would like to welcome you to SHIB : The Metaverse. An immersive experience positioned to become a massive environment for the #ShibArmy to grow, share and benefit together.https://t.co/pwcBSfUSND
— Shib (@Shibtoken) March 30, 2022
Although, developers decided to use Ethereum’s native cryptocurrency Ether as a land price token instead of SHIB.
“Using our ecosystem tokens is a risk, as we would have to dump our own tokens to cash them in! And that’s a long way from our plans,” developers said in the announcement. Wednesday.
Therefore, the team decided to use a “neutral coin” as a land price token that can be sold in stablecoins to pay for all resources.
Lots would come in phases. The introductory phase unlocked 36,431 plots, divided into four categories: Silver Fur, Gold Tail, Platinum Paw and Diamond Teeth priced between 0.2 ether (ETH) to one ETH. As the stages progress, all tokens – SHIB, LEASH, BONE would play a part. Especially with SHIB, the announcement said:
“We will be introducing the first special role that Shiba Inu $SHIB will play in the Metaverse. Additionally, welcoming a mechanic to burn $SHIB independently while renaming your land plot should start soon after land events and public sales have ended.
Land buyers can generate passive income, collect in-game resources and create rewards. In general, this step will be developed in Shibarium, a layer-2 solution for SHIB.
Dogecoin co-founder Billy Markus was quick to criticize this move. In fact he went on with say that making “random metaverse” and “selling fake land” with Ethereum would not increase SHIB’s usefulness.
i mean whatever if people want to give the developers even more money go ahead but if i were a shib holder i would be annoyed
— Shibetoshi Nakamoto (@BillyM2k) March 31, 2022
How’s our favorite dog?
SHIB witnessed a 2% increase in 24 hours, according to CoinMarketCap. Indeed, this development brought much-needed optimism to the flagship token.
According to data from IntoTheBlock, the profitability of the second largest meme cryptocurrency soared to 47%.
Dominant whales certainly played a vital role in obtaining the said token. Several whales had received SHIB in the past, as previously described. Here’s a quick summary:
WhaleStats’ analysis of the top 100 Shiba Inu holders reported a: 110% increase in the average SHIB balance of this category of investors. In addition, the average SHIB value of their portfolio grew by 127%.
Net flow has also increased by more than 826% in the past 24 hours.
This post Will Shiba Inu’s ‘The Metaverse’ gamble pay off amid criticism?
was published first on https://ambcrypto.com/amid-criticism-will-shiba-inus-the-metaverse-gamble-pay-off/