As usual, something is cooking in the crypto sphere and most crypto enthusiasts are holding their breath for this one. Another Metaverse is on its way and it is being created by the majestic Shiba Inu team. It is the future destination for all things SHIB.
Despite the criticism that Shiba has received from crypto experts in the past, it seems to be consuming more space at the table. Turns out the developers behind Shiba Inu have been working on a decentraland which they are about to complete.
The creators define this creation as a Metaverse concerned with shared virtual spaces that form a perceived virtual reality. Its goal is to create one of the strongest communities ever gathered in all of cryptocurrency history.
The SHIB Metaverse is Shiba Inu’s next phase of expansion. It is still at the minting stage and according to its creators, it is packed with lots of potentials.
What is Shiba Inu?
Shiba Inu often referred to as SHIB is a meme coin that falls under the wide umbrella of cryptocurrency. It is based on the Ethereum Blockchain and it features the Japanese breed of a hunting dog (Shiba Inu) as its mascot. It is widely considered to be an alternative to Dogecoin hence the popular name ‘Dogecoin killer’. It was created in August 2020 by the alias ‘Ryoshi’.
It was created as a joke and not as a serious product; however, over time it has completely outdone itself. It has attracted genuine interest and returned the trust of early investors with meteoric gains in value. The minds behind Shiba Inu are back at it again and this time they are working on a Metaverse.
In their last call to interested parties, the creators stated that the new portal would be up and running in the next coming days. It also stated that its main role is for users to start the process of locking their assets. The event was expected to take place within a couple of days.
A closer look at Shiba Inu Metaverse
Shiba Inu recently revealed in a blog post that they are working on a Metaverse which will be called SHIB. A new domain has already been dedicated to this upcoming project by the name shib.io. The domain is dedicated to dealing with everything that the Metaverse is set to reveal once it’s ready and complete.
According to the blog post, we should expect SHIB to start auctioning some 100,000 plots that it holds in its Metaverse. The domain is designed in such a way that some of these plots will remain in the public domain as boulevards, avenues, and hubs that will connect destinations within the SHIB Metaverse.
Enthusiasts are speculating the likely purpose of the plots after the creators announced that they will be part of the 4 districts namely: Growth, Defense, Technology, and Currencies.
Just like in real life and real estate, the prices of plots in the Metaverse are determined by their location. Based on the creators’ predictions, more than 36,000 virtual plots should be sold in the first phase.
The plots have been divided into 4 categories with minimum prices from each pre-determined tier. The categories are namely: Diamond Teeth, Platinum Paw, Gold Tail, and Silver Fur.
Needless to say, the Diamond tier plots have the highest price while the silver fur plots have the lowest price. Interestingly enough, the Metaverse requires payments to be made in Ethereum rather than its coin.
The minimum and fixed prices for each tier are as follows:
- 1 $ETH for the Diamond teeth
- 0.5 $ETH for Platinum Paw
- 0.3 $ETH Gold Tail
- 0.2 $ETH for Silver Fur
What are the roles of the SHIB Metaverse?
- To become an environment that allows the Shiba Inu army to grow, share, and benefit together.
- Each plot allows becoming part of the immersive Shiba inspired environment
- To provide an exciting way to make passive income, gather in-game resources, and generate rewards.
- To help investors diversify their investment portfolio
- Expanding the functionalities of the Shiba Inu ecosystem beyond a meme coin that started as a joke
- To award users with a personal space in which they will be able to build and manage their assets.
What is in the future for the SHIB Metaverse?
There are several ways that one can own a plot on SHIB. Its creators have also promised that there will be several ways for the buyers to monetize these plots once they own them. A lot of details remain unclear but the creators have promised passive incomes and ways to generate rewards for being a plot owner.
The categorization of the plots is also expected to bring unique features and privileges. Isn’t it interesting that even though these plots have been created with the same piece of code, they are different from each other?
On top of that, other tokens in the Shiba Inu family are expected to be a part of the Metaverse. These tokens include the likes of $LEASH and $BONE. They are also working on a stable coin (SHI) coming from the Shiba ecosystem. This stable coin will be tasked with the role of tiding the volatility of the cryptocurrency market.
Another outstanding feature of the upcoming Metaverse will be Shibarium, a layer 2 in which the Metaverse will be developed. The creators of the Metaverse are claiming to have reserved about 15 plots of land for individuals who are highly involved in the building of the Metaverse.
Fans, investors, and enthusiasts should expect more changes to roll out later this year.
When Shiba Inu was created, people barely took it seriously. However, over time this dog-themed coin has proven that it holds great potential. Most people did not expect it to last a year, let alone create a few overnight millionaires. Now it’s clear that the Shiba will not stop barking anytime soon. Do you think that Shiba Inu will live up to its prophecy of being the ‘Dogekiller’?