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- Shiba Inu was the initial meme cryptocurrency in the market. It has launched ShibaSwap before and is now rolling out its own metaverse.
- There will be distinct kinds of lands to mint, for which users can pay in Ethereum and Shiba Inu.
- SHIB: The Metaverse will be developed on top of Shibarium, an upcoming L2 scaling solution for the Shiba Inu ecosystem.
Mechanism Behind SHIB: The Metaverse
SHIB: Metaverse will feature over 100,000 pieces of user minted lands. Owners of these chunks will be able to generate passive income from lands, and rewards and gather in-game resources.
Most of the lands will be available for minting except for a few as they are locked as prime locations to explore and travel inside the metaverse. Those lands will stay private and will be used as common grounds, serving as portals for distinct components of the metaverse.
There will be four districts in the metaverse: Growth, Defense, Technology, and Currencies District.
Players can traverse land plots extending from Tier 1 to Tier 4. Tier one will be the top of them all and contain the lowest number of lands.
Tier 1 Lands will be the costliest lands, as they will be worth 1 Ethereum or the equal amount of Shiba Inu.
SHIB: The Metaverse Land Utility
Users can not only mint the lands in SHIB metaverse, but they can also leverage SHIB to add logos and images to the land plots. Shiba Inu tokens will be burnt if a picture is changed.
Furthermore, Shiba Inu token holders can give title or retitle land plots by spending them. SHIB will be utilized to lease HUBS, representing the most valuable land plots in the metaverse.
As the development of the ecosystem takes place, BONE and LEASH will start seeing an increase in their utility.
Key Events and Management
Shytoshi Kusama, a developer of Shiba Inu, is the creator of SHIB: The Metaverse and is backed by the team of Shiba Inu.
All funds gathered from the land plot minted were to be utilized for metaverse development in the future when just Ethereum was supported. Still, this doesn’t clarify if that approach will change now that Shiba Inu is an accepted payment method.
The team deemed their ecosystem tokens a threat initially, as they would need to sell SHIB for the project’s development. However, it is not confirmed that this situation might arrive.
A prime aspect of anticipating here is the ecosystem sealing a deal with a AAA gaming developer, which is yet to be done.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
