Amid criticism, will Shiba Inu’s ‘The Metaverse’ gamble pay off
TheShiba Inu team has finally introduced its much-anticipated metaverse project. It is aimed to take on established players like Decentraland. In a blog post published on 30 March, the team revealed details about its much-talked-about metaverse project called “SHIB: The Metaverse.”
Developers behind popular meme cryptocurrency Shiba Inu (SHIB) have unveiled their virtual reality project. This virtual world would incorporate about 100,595 plots of virtual land and four unique districts. In addition, public lands will be up for purchase.
In a tweet, SHIB said:
<p lang=«en» dir=«ltr» xml:lang=«en»>We are happy to welcome you to SHIB: The Metaverse. An immersive experience that is 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 pricing token instead of SHIB.
“Using our Ecosystem Tokens is a risk, as we would need to dump our own tokens price cashing them! And that’s far away from our plans,” developers said in the announcement on Wednesday.
Hence, the team decided to use a “neutral coin” as a land pricing token that can be sold into stablecoins to pay all the sources.
Land plots would come in phases. The introductory stage 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 phases roll out, all tokens- SHIB, LEASH, BONE would play a role. Especially with SHIB, the announcement said:
“We will be introducing the first special role that Shiba Inu $SHIB will play in the Metaverse. By welcoming a mechanic to burn $SHIB independently while
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