Rewards from Land Event Sales Might Soon Be Available, Here’s When

According to an official Shiba Inu blog post, rewards from land event sales might be available to holders as soon as July 2. In the blog post, the Shiba Inu team recalled its promise to distribute 3% of the funds from land event sales among users who have locked LEASH and bid for any land during the first two stages of early access, which are the bid and holder events.

https://t.co/dJsaPJAv5K

— SHIB: The Metaverse (@ShibTheMV) June 6, 2022

It, however, states that up to now, no rewards have been distributed yet and explains why—the originating contract counts on the selling out of land to reward and distribute accordingly. At the moment, land is still available in SHIB’s Metaverse and has not yet sold out.

Per recent statistics shared by Shibainuart, currently, 5,500 plots of land have been sold out of 19,400 plots that were made available for sale.

It explains that, in order not to keep LEASH LOCK users waiting for a total sell-off of land before receiving rewards, the Shiba Inu team says it is constructing a new contract to pursue the distribution of 3% BONE to those who participated in locking their LEASH during the first early access events.

This updated contract hopes to fulfill unlocking the rewards without the need to sell out. Rewards will now become available after 90 days for locking rewards comes to an end for all users, which is estimated to come on July 2, 2022, it says.

Shiba Inu rebounds 5%

Shiba Inu’s price remains in consolidation within a tight range between $0.0000106 and $0.0000113, suggesting an impending move. At the time of publication, Shiba Inu was trading nearly 5% in the last 24 hours at $0.0000113, per CoinMarketCap data.

Shiba Inu has added thousands of holders within days as this metric count reflects growth. According to WhaleStats, the total number of SHIB holders presently stands at 1,175,890.