The SHIBA Inu team announced that they’re launching their own metaverse project. This project known as SHIB: The Metaverse comprises all the components of the traditional SHIBA Inu ecosystem such as $SHIB, $LEASH, $BONE. The project, which is planned for roll-out in phases entails the sale of virtual assets such as land.
Plots of Land in SHIB Metaverse
According to the blog post, 36,431 plots of land would be made available for sale in the virtual universe. The community will be able to access some of the assets for sale while others will be reserved or restricted. This is just like in the real-world development in cities. Some of the locked land will not be available for sale since they are reserved as city districts lands meant for special purposes.
The release stated that the assets have been categorized based on prime locations:
“For this we’ve categorized things in the following tiers:
Tier 4 🦴 Silver Fur : 17,030 Lands
Tier 3 🦴 Gold Tail : 7,356 Lands
Tier 2 🦴 Platinum Paw : 5,714 Lands
Tier 1 🦴 Diamond Teeth : 2,024 Lands
Private Locked 🦴 HUBS : 4,307 Lands”
Metaverses are in high demand among crypto pundits. Project teams in the industry are responding through more projects to gain market shares in the growing space. There are presently 61,422 ERC-721 smart contracts according to Etherscan. These are projects that are associated with non-fungible tokens which have a market projection of $80 billion by 2025 according to Coindesk.
Sales Are in Ether
The Shiba Inu metaverse project will sell its assets in ETH. The announcement did seem to have had a little impact on the SHIB token. The coin is changing hands at $0.00002777 on March 31, according to data from Coinmarketcap. This is a 11.50% increase in value compared with the last 7 days.
Some users in the community are not really impressed with the inroad the team has made into the metaverse space. One Twitter user, Assad Hanna, wondered why the team would sell its virtual land in ETH and what impact that would have on its native SHIB token.
it is not good that you are using ETH for selling the land instead of pushing people to use more SHIB
— Asaad Hanna (@AsaadHannaa) March 30, 2022
The pricing for the land as listed shows that Silver Fur goes for 0.2 ETH, Gold Tail 0.3 ETH, Platinum Paw 0.5 ETH and Diamond Teeth 1 ETH.