Shiba Inu (SHIB) today shared some key details regarding the launch of their metaverse project. This comes close on the heels of the company’s announcement regarding the same earlier this year.
What Is Shiba Inu Metaverse?
Metaverse is a virtual world where people can interact using their virtual 3D avatars and non-fungible tokens (NFTs). In the Shiba Inu metaverse, three crypto tokens will be used – SHIB, LEASH, and BONE, while Ethereum (ETH) will be used for buying land in the metaverse world.
Shiba Inu announced in a blog that they aim to provide their users with a 3D interactive and creative virtual world to play around, explore, and have fun. There will be 3D animated graphics in this metaverse world. The developers have also formed several partnerships to promote new innovations in their metaverse world, and have also announced the launch of their new website, https:SHIB.io in this regard. That said, Shiba Inu is yet to announce the details of the partnership.
“The community will have a great deal of interaction, future choices, and creative ways to immerse themselves in this environment,” an excerpt from their blog read.
The Land In Shiba Inu Metaverse
In the same blog post, Shiba Inu announced that a total of 100,595 plots of land would be offered, and each of these pieces of land will be part of the immersive Shiba Inu metaverse experience. At present though, only 36,431 plots of land will be available for sale. These are to be divided into four districts which have been named as: Growth District, Defence District, Technology District and Currencies District.
According to the blog, some parts of the metaverse land will not be up for sale, since those will be used as common grounds. These include, the roads, avenues, boulevards, and hubs, among others. Only the public land will be available for purchase.
How Will The Land Be Priced?
The virtual plots of land have been divided according to their location and access. The prices are as follows:
Tier 4 Silver Fur: 17,030 Land; Cost 0.2 Ethereum each
Tier 3 Gold Tail: 7,356 Land; Cost 0.3 Ethereum each
Tier 2 Platinum Paw: 5,714 Land; Cost 0.5 Ethereum each
Tier 1 Diamond Teeth: 2,024 Land; Cost 1 Ethereum each
Why Are Prices in Shiba Inu Metaverse Land In Ethereum?
The native token of Shiba Inu is SHIB, and there exist two other tokens in the Shiba Inu ecosystem –LEASH and BONE. Despite that, the developers decided to price their land using Ethereum.
This is because the developers wanted a neutral cryptocurrency to facilitate these purchases so that they could sell this crypto (Ethereum), and then use the funds for further expansion of their goals. So, they did not want to further sell any more SHIB tokens than they have to, and simply use Ethereum for transactions in their metaverse.
“As we will use the collected funds to pay for the Metaverse development, the team has decided to use a neutral coin that can be sold into stable coins to pay for all the sources. Using our Ecosystem Tokens is a risk, as we would need to dump our own token’s price after cashing them! And that’s far away from our plans,” read the blog post.