Shiba Inu Memecoin can be officially used to purchase land in the SHIB metaverse using the native SHIB token as the development team continues to provide useful services to proprietors.
Holders of the popular Shiba Inu memecoin (SHIB) will now be able to use the cryptocurrency to buy land in the Shiba meta-verse.
On Wednesday, the Shiba Inu team revealed on Twitter that the SHIB token can now be used to strike plots in the recently unveiled virtual reality project, “SHIB: The Metaverse.”
100,595 different terrains are offered in the metaverse of SHIB: The Metaverse. In the beginning, it was only possible to buy land using ETH. Now the integration of SHIB in the Metaverse project not only makes it possible to buy land, but also gives users additional opportunities to customize their virtual land.
Owners of land in SHIB: Metaverse will be able to generate passive income, gather resources in the game and generate rewards even though these have not yet been revealed.
Land areas in the SHIB meta-verse will be unlocked in phases. In the initial phase, 36,431 plots were unlocked on April 13, with the plots being divided into four categories: Silver Fur, Golden Tail, Platinum Paw and Diamond Teeth, which range in price from 0.2 ETH and 1 ETH.
Despite popular discourse portraying SHIB as just a memecoin, driven solely by Elon Musk’s hype and tweets, the SHIB ecosystem has grown to support NFTs and the Defi ShibaSwap platform.
The SHIB ecosystem includes additional daughter tokens, including LEASH and BONE, which developers believe will play a greater role as the metaverse project expands. Currently, holders who lock their LEASH have preferential access to land supply, while BONE is a governance token that allows holders to vote on decisions regarding the development of the metaverse.
According to a recent post from the Unification Foundation, SHIB: The Metaverse will be developed in Shibarium, a Layer 2 scaling solution for SHIB. A public test of Shibarium is expected to be launched over the next few months, with a public beta expected to follow shortly.
On April 23, the developers launched the SHIB burning portal, ShibBurn, which removed more than 22.5 billion SHIB tokens (approximately $ 500,000) from circulation. Since the launch of SHIB, approximately 410.32 trillion SHIBs, or 41% of the total supply, have been burned.
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