What Is SHIB : The Metaverse — Unleashing the Shiba Inu Ecosystem
The Shiba Inu token has recently surged nearly 48% in a single trading session, thanks to the recent hype behind the announcement of SHIB : The Metaverse. The positive reaction from investors was anticipated because of the potential that Shiba Inu Metaverse offers. In this virtual world, a plot of land can potentially yield a much higher return than in the real world.
If you're not following the Shiba Inu news lately, here is a summary of everything you need to know about SHIB : The Metaverse, how to buy virtual land, and what users can expect from such a metaverse investment.
What Is SHIB : The Metaverse?
SHIB : The Metaverse is a virtual world backed by the Shiba Inu token. The project features virtual real estate and allows participants to gain passive income, rewards, and other monetary benefits.
According to the lead developer, Eric M, the Shiba Inu metaverse will integrate the entire Shib Army community with tokens, games, and a lot more related to the ecosystem. While there was initially some speculation about the name of the upcoming metaverse, with some referring to it as the Shiba Inu metaverse, the team has recently confirmed it as SHIB : The Metaverse.
The project is well underway, as the sale of the first plot is around the corner. Overall, SHIB : The Metaverse will offer 100,595 plots for sale, rolled out gradually in three different phases. The first two phases are reserved for holders of LEASH and the Shiba Inu non-fungible token (NFT). In the last phase, anyone can chip in without any major restrictions.
The map for SHIB : The Metaverse is lined with Shiba-related street names. Just as in the real world, there are special enclaves and prime land. Likewise, landowners can sell their SHIB : The Metaverse land for profit, manage investment and create digital experiences. Buying a plot in a prime development area can offer additional opportunities.
It's important to understand that the future of SHIB : The Metaverse is directly linked to the Shiba Inu ecosystem.
At the center of the ecosystem is the SHIB token. SHIB is an Ethereum-based altcoin named after the popular Japanese hunting dog. The token is consistently ranked in the top 20 cryptocurrencies by market cap. If interested, you can buy SHIB on any one of the major crypto exchanges. It's also used as an investment instrument for speculative purposes and for generating passive income.
Besides SHIB, LEASH and BONE are the two other tokens used in the Shiba Inu ecosystem.
Unlike other cryptocurrencies that are driven by the hype created by the cryptosphere, the Shiba Inu ecosystem is a utility-driven ecosystem, which also includes NFTs, an incubator and a DeFi platform.
Now that you have some idea of the Shiba Inu ecosystem, let's talk about how you can buy the land in the SHIB metaverse.
How To Buy SHIB : THE Metaverse Land
According to the latest Shiba Inu news, a total of 100,595 virtual plots are for sale in SHIB : The Metaverse. To keep everything as fair as possible — and to deter bots — the sale of plots will take place in three different stages.
In the first stage, the team will reveal 36,431 plots of land, of which only 32,124 are for sale. As a courtesy, priority is given to anyone holding a LEASH token or a Shiba Inu NFT. While holders of LEASE and Shiba Inu NFTs are given early access, these assets are not used for the transaction. Instead, the sales transaction in SHIB : The Metaverse is carried out using ETH, Ethereum’s native cryptocurrency.
The location of a particular plot in SHIB : The Metaverse will determine the price that you're going to pay. Accordingly, these 32,124 plots are subdivided into four tiers based on their perceived value. Here is a breakdown of the base price:
Tier 4 — Silver Fur: 17,030 Land Plots — Price starts at 0.2 ETH (Approx. $650)
Tier 3 — Gold Tail: 7,356 Land Plots — Price starts at 0.3 ETH (Approx. $950)
Tier 2 — Platinum Paw: 5,714 Land Plots — Price starts at 0.5 ETH (Approx. $1,600)
Tier 1 — Diamond Teeth: 2,024 Land Plots — Price starts at 1 ETH (Approx. $3,200)
To give everyone a fair shot, each plot is sold using a bidding system. If there is more than one person interested in buying a land plot, the person with the highest bid wins.
Each bidding event will last for 72 hours. After the end of the 72-hour window, the person with the highest bid receives the ownership rights to the plot. However, keep in mind that every plot has a starting bid, which reflects the minimum amount that the plot can be bought for.
Most importantly, the first phase is the only time when SHIB : The Metaverse uses a bidding system. Subsequent phases will offer a fixed price for the virtual land.
The bidding system is introduced to get some idea of the market demand for SHIB : The Metaverse land. Based on that, as well as the prices of plots sold through the bidding system, developers will determine the fixed price of plots in the remaining two phases.
In the second phase, the Holders Event, holders of LEASH and Shiba Inu NFTs will get another chance to buy land plots. The second phase will follow the same protocols. However, there will be no bids this time. Each virtual plot will be sold at a fixed, predetermined price. This stage will start right after the end of the first stage and continue for seven days. It's a chance for LEASH and Shiba Inu NFT holders to buy land in SHIB : The Metaverse if they’ve missed out on the initial phase.
The third and final phase is a 10-day public sales event which will immediately roll out after the end of the second stage. This event is open to everyone. There are no LEASH or NFT tokens required to buy SHIB : The Metaverse land. Similarly, each plot will sell at the existing market price without any bidding.
How to Participate in the Event
To participate in the main event and receive the latest Shiba Inu news, register yourself on the official website of SHIB : The Metaverse. During the first two stages, you're required to lock your LEASH or SHIBOSHIS for the given sales period. In addition, you need to set up and use the MetaMask wallet to bid on lands.
LEASH and SHIBOSHI Lockers
Lockers are constructed to promote early access to SHIB : The Metaverse. This will act as an anti-dumping mechanism to streamline sales. Before bidding on the plots, participants need to lock LEASH and SHIBOSHIS for a designated period, thus ensuring that no one can monopolize the sales event. There is a handy tool on the website that enables potential investors to calculate the maximum amount of land which users can mint.
The minimum amount to lock is 0.2 LEASH or 1 SHIBOSHI, whereas the maximum amount that anyone can lock is 5 LEASH or 10 SHIBOSHIS. Depending on the assets, the locking period may vary between 45 and 90 days. The maximum mint per wallet is 200 plots of land. If someone is using both LEASH and SHIBOSHIS independently, the maximum mint per wallet increases to 400 plots of land. If you're outbid, the locking period is reduced automatically.
To compensate for the locked time, the system will distribute 3% of the funds generated from the event to everyone who has either locked their assets or participated in the bidding process.
Fortunately, the system also allows landowners to save on gas fees. If you have more than one plots of land, you can mint multiple plots at once to avoid network fees. Therefore, it's better to wait for the right time to mint multiple plots of land at a time when the network fees are lower than average.
What Else We Know About SHIB : The Metaverse
A lot is going on in the background. The team behind SHIB : The Metaverse is actively integrating features that are certainly going to add value to virtual land. New implementations such as the Layer 2 Shibarium TestNet will play an integral role in speeding up development.In the coming days, you're likely to experience the Shiba ecosystem stablecoin, SHI, which will provide investors with several new opportunities. The virtual land value is anticipated to increase significantly as investors gather in-game resources, generate rewards, and create additional passive income as a result of the development. There are additional plans to award investors a personal space where they can launch and manage their projects.
According to the recent Shiba Inu news on the official blog, it pays off to invest in SHIB : The Metaverse because the team is going to announce many unique features in 2022 to further enhance the privilege of owning a plot. If everything goes according to plan, there’s little doubt that early entrants to SHIB : The Metaverse may experience a significant increase in the value of their virtual plots within a relatively short period.
To Invest or Not to Invest
Only time will tell what ROI (return on investment) you're likely to get by buying land in SHIB: The Metaverse. However, retail investors and institutions have consistently poured capital into similar projects. As a result, SHIB : The Metaverse has garnered a lot of attention from the prospective community.
If you’re a metaverse investor, you’ll know that SHIB : The Metaverse is by no means the first metaverse project; The Sandbox and Decentraland are already successfully operating in this realm. Still, the higher market cap of the native token, SHIB, is just one of the many reasons to believe that the SHIB : The Metaverse will provide the necessary traction for the competition ahead. In the past, SHIB has generated a lot of volatility during its major announcements, which can also play favorably for optimistic investors.
The Bottom Line
SHIB : The Metaverse is backed by a vibrant community and a group of avid investors. This project will likely improve the existing ecosystem and allow developers to explore new ideas. In the future, it may bring significant returns to its founding members.