The relevance of digital currencies is increasing day by day following the wide acceptance and mainstream adoption alongside the digital space
The Shiba Inu community has now come up with the all-new utility of the popular meme coin SHIB which is to make a purchase of digital land in its own Shiba Inu metaverse. The development team of Shiba Inu memecoin on Wednesday took to Twitter. It was revealed that the native token SHIB could now be used to mint a piece of land or plot in the virtual reality project unveiled SHIB – The Metaverse recently.
Shiba Inu metaverse has around 100,595 pieces of land having different utilities and types. Initially, it was only possible to purchase land in the digital space using Ethereum (ETH), as the development team wanted to use a more stable, less volatile, and balanced cryptocurrency. The integration of SHIB into the metaverse project would make it possible for users to purchase land and grant them added customization options for the virtual land they are going to own.
Shiba Inu holders anticipate becoming landowners in the SHIB – the metaverse will have the ability to generate passive income and generate in-game digital resources and rewards that are yet to be revealed. There will be different stages in which land plots of the Shiba Inu metaverse will be released. On the 13th of April, the initial introductory stage saw the unlocking of 36,431 plots. The land was divided into four different tiers tagged as Silver Fur, Gold Tail, Platinum Paw, and Diamond Teeth, falling under the price bracket of 0.2 ETH to 1 ETH.
The SHIB ecosystem has seen massive growth in its popularity and support from the community, including NFTs and ShibaSwap, which is its defi platform. This has been made possible despite the waves of narrative that painted SHIB as only a bare simple memecoin and seems to be solely driven by the hype of influential people like Elon Musk. The ecosystem of memecoin Shiba Inu also comprises additional subsidiary tokens like LEASH and BONE that are said by developers to play a major role in the developing metaverse project.
Holders of LEASH at present who lock their belonging tokens are given early access to the land biddings, while BONE would be acting as a governance token and will have features to allow holders to vote over the metaverse development concerning decisions. A recent post on Medium from the Unification Foundation stated that the Shiba Inu metaverse would be developed in an upcoming L2 scaling solution for SHIB, Shibarium. Over the next few months, a public test is set to go live for Shibarium, which will be followed by a public beta soon afterward.
Source: https://www.thecoinrepublic.com/2022/05/05/have-you-heard-of-the-new-use-case-shiba-inu-its-buying-land-in-shib-the-metaverse/