Shiba Inu has announced the creation of a metaverse called “SHIB: The Metaverse.” This virtual reality project will have 100,595 land parcels, some of which will be sold to the public and the remainder will be kept private.
According to the Shiba Inu development team, Ether will be utilized to price the land rather than the platform’s native token.
The lands will be auctioned off in stages. In the first stage, 36,431 plots will be unlocked and divided into four stages: Silver Fur, Gold Tail, Platinum Paw, and Diamond Teeth.
The price range of these lands is between 0.2 ether (ETH) to 1 ETH. Shiba Inu, through its blog post, stated that the decision to use Ether, a neutral token, is to reduce the chances of downside risk being associated with the native coin, Shiba.
“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.”
The development team hopes that buyers of virtual lands will be able to earn income and gain access to various forms of rewards by owning them.
Holders of these lands have the option to rename their land if they so desire, but only if they burn the SHIB token.
“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 renaming your land plot, furthermore, this should start soon after land events and public sale have ended.”
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