Developers behind popular meme cryptocurrency shiba inu (SHIB) have unveiled details of their virtual reality project “SHIB: The Metaverse,” announcing 100,595 land plots, some of which will remain private.
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Land plots will be released in phases. The introductory stage will unlock 36,431 plots, divided into four categories: Silver Fur, Gold Tail, Platinum Paw, and Diamond Teeth and priced between 0.2 ether (ETH) to 1 ETH.
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The team has decided to use neutral cryptocurrency as a land pricing token to ensure there is no downside risk to Shiba native coins.
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“Using our Ecosystem Tokens is a risk, as we would need to dump our own tokens price cashing them! And that’s far away from our plans,” developers said in the announcement published Wednesday.
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Land buyers will be able to generate passive income, gather in-game resources, and generate rewards, which the team said it will reveal soon.
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Landowners can rename their plot while using and burning the dog-themed SHIB token.
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“We will be introducing the first special role that Shiba Inu $SHIB will play in the Metaverse,” the announcement said. “By welcoming a mechanic to burn $SHIB independently while renaming your land plot, furthermore, this should start soon after land events and public sale have ended.”
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The rest of the SHIB ecosystem coins like LEASH and BONE will play a role as more phases are rolled out, developers said, adding that LEASH holders will be able to purchase lands in later stages.
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The Metaverse will be developed in Shibarium, a layer-2 solution for SHIB.
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SHIB token was flat-lined near 0.00002274 at press time. Developers hinted at a foray into the metaverse in early February.
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