Shiba Inu Unveils Project Metaverse Concept

The development team behind Shiba Inu has revealed more information about the WAGMI Temple. The network’s Metaverse team plans to engage the community through a series of Fireside Chats during the creative process. Here are the details…

Shiba Inu made new statements about the metaverse project

The development team of Shiba Inu has unveiled further details about their forthcoming metaverse project, WAGMI, an acronym for “We Are All Going to Make It.” According to the latest update on the Shiba Inu blog, the WAGMI Temple aims to foster a Zen-like atmosphere, emphasizing spiritual connections with the earth, serene meditation, sensory experiences, and natural beauty.

Shiba Inu also released black and white images for the upcoming WAGMI Temple. These images are designed to represent a strong, robust, physical, and interconnected world. The intention is to share crucial feedback with the SHIB army, the Shiba Inu community.

Part of this feedback involves the specific roles that the WAGMI Temple will play within the Shiba Inu metaverse project.

The metaverse team, as mentioned in the blog post, drew inspiration from various architectural sources for the design of the WAGMI Temple.

Notable examples of these inspirations include the Swaminarayan Akshardham in New Delhi and the Temple of Heaven in Beijing.

SHIB developers have Fireside chats

Shiba Inu has announced that its metaverse team will be organizing Fireside Chats during the development of the metaverse.

These chats are designed to allow community members to ask questions, propose ideas, and voice their concerns regarding the project.

Shiba Inu plans to conduct these conversations on their official Discord channel and subsequently make them accessible on other platforms.

The first Fireside Chat for the WAGMI temple is scheduled for September 8, 2022. The promotion of the WAGMI temple by Shiba Inu serves to demonstrate that the coin is not merely a meme but encompasses a wider range of utility.

Notably, as reported by Metaverseplanet.net, following the announcement by The Third Floor, SHIB developers have established the foundational structure for the metaverse. The developers have described this foundational build as a combination of networking best practices.

SHIB tokens are burning

Meanwhile, as reported by ShibBurn’s Twitter account, over 3.7 billion SHIB tokens were burned in the month of August.

Despite this significant token burn, the price has still seen a decrease of 9 percent. This decline in price has been a cause of concern among the SHIB army (Shiba Inu community).

Amidst these developments, the developers are working on enhancing the token’s burning policy. Investors who are focused on long-term gains view improvements in the burn policy as a positive indicator.

An example of such positive development is Uniswap’s support for the burning protocol. The intention behind the token burning process is to help increase the value of SHIB.

Metaverse projects hold the potential to boost the value of their native tokens. Towards the end of last month, there was a noted downward trend in the market cap realized value ratio of SHIB.

However, this trend is beginning to shift, suggesting that the price of SHIB might see an increase in the coming days.

Furthermore, recent data from the on-chain analytics platform Santiment has indicated a rise in the number of active daily addresses for SHIB tokens, which could be a positive sign for the token’s market performance.

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