The Shiba Inu team has unveiled details about its long-discussed Metaverse project, aiming to position itself as a contender among the leaders in the Metaverse space with the project titled “SHIB: The Metaverse.”
Originally introduced as a playful-themed crypto asset, Shiba Inu gained widespread popularity in its early days, at times surpassing its rival Dogecoin. Having amassed a substantial community, the project now boasts over 3 million followers on Twitter.
The development team asserts that the introduction of Metaverse projects will strategically reposition Shiba Inu and contribute to its ongoing growth.
The implementation of the new Metaverse project is designed to leverage the entire Shiba Inu ecosystem efficiently. Consequently, the team intends to actively integrate LEASH and BONE tokens alongside the SHIB token within its ecosystem.
Anticipated to gain prominence through future partnerships, the Shiba Inu Metaverse project is also expected to be rolled out on a new domain, shib.io. Although the website is currently inactive, it is envisioned to become the hub of the Metaverse environment, enabling users to secure their assets in new projects.
Shib Metaverse will consist of more than 100,000 virtual lands
As revealed by Shiba Inu, the Metaverse project is set to encompass 100,595 virtual lands, with the initial phase targeting the unlocking of 35,431 plots. These lands will be distributed across four distinct regions, and it is anticipated that parcel prices may range between 0.2 and 1 ETH.
The development team asserts that the acquisition of virtual land will confer benefits to users, including opportunities for earning passive income and receiving rewards. Additionally, there are promises of forthcoming privileges for landowners, which will be announced in due course. This move positions Shiba Inu in direct competition with established Metaverse projects like Decentraland and Sandbox.
In response to the Metaverse’s evolution, the Shiba Inu development team has offered insights into two distinct services. One is the Shibarium platform, operating as a layer 2 solution, and the other pertains to the SHI token, envisioned as a stablecoin project. These developments signify Shiba Inu’s strategic positioning and engagement within the evolving landscape of the Metaverse industry.
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