Shiba Inu developers reveal details of metaverse launch

The Shiba Inu meme-token team has disclosed details of its own metaverse launch. The territory will be divided into more than 100,000 land plots, priced from 0.2 ETH to 1 ETH.

We are happy to welcome you to SHIB : The Metaverse. An immersive experience that is positioned to become a massive environment for the #ShibArmy to grow, share, and benefit together.https://t.co/pwcBSfUSND

— Shib (@Shibtoken) March 30, 2022

According to the announcement, SHIB: The Metaverse will use all tokens of the Shiba Inu ecosystem, including SHIB, LEASH and BONE. The virtual space consists of 100,595 plots, which will be unlocked gradually.

“Some lands will remain locked as they are key travel destinations within the metaverse and will be private to be used as common areas. They will become roads — avenues, boulevards and hubs, while public [plots] will be available for purchase,” the developers clarified.

In the initial phase, 36,431 plots will be unlocked, and four districts will be opened.

In the first phase, 4,307 plots will remain blocked. The rest, depending on value, are divided into four categories:

• Silver Fur — 17,030 plots (priced at 0.2 ETH);
• Gold Tail — 7,356 plots (0.3 ETH);
• Platinum Paw — 5,714 plots (0.5 ETH);
• Diamond Teeth — 2,024 plots (1 ETH).

The developers noted that they chose to sell plots for ETH, as the funds raised will be directed toward the metaverse’s development. In their words, Ethereum is easier to convert into stablecoins to cover expenses.

The team also stressed that using tokens from the Shiba Inu ecosystem in this process carries risks for their trading prices.

Landowners in the project’s metaverse will be able to generate passive income by collecting in-game resources and earning rewards, which the developers promised to detail later.

Plots can be renamed using the SHIB burn mechanism. Access to this feature will be opened shortly after the public sale.

The metaverse will run on Shiba Inu’s layer-2 solution — Shibarium.

In February 2022, the Shiba Inu team became a partner of the fast-food chain Welly’s.