Meme coin, Shiba Inu, named after the world’s richest man, Elon Musk’s pet dog and also known as Dogecoin’s little brother, ranked #15, with a market capitalization of $14.6 billion, announced it is launching its own metaverse.
The project, which is currently called “Shib: The Metaverse,” will have direct integration with Shiboshis, a series of NFTs the project developers issued before. The team specified that this project would be developed by a yet-unnamed third-party game studio.
According to an announcement issued by the project team, they stated, “Shib: The Metaverse, is the culmination of our history as a community, virtually displayed, in a layer of beautiful visuals that showcase our innovation and unity with a place to truly call home.”
What you should know
- The forthcoming metaverse will use the Shiba Ecosystem. This means that all tokens which include SHIB, LEASH and BONE will play a role as phases roll out.
- The ecosystem has also launched an official website, Shib.io, which it states, “is set to become a main source for all things SHIB.”
- The metaverse will consist of 100,595 plots of land. According to the team, “Each plot is an exciting opportunity to become part of the immersive Shiba inspired environment.”
- They further explained that some lands will remain locked as they represent key locations for travel within the metaverse and stay private to be used as common grounds. They stated, “These will represent roads (corridors): Avenues, Boulevards, and Hubs, while public ones will be available for purchase.”
- The team explained that while development continues, the progression and guaranteed process to secure plots will begin by releasing a sequence of lands in phases. It states, “During our introductory phase for SHIB: The Metaverse, 36,431 plots of land (36.22% of total plots of land) will become unlocked, while welcoming and revealing a part of 4 different Districts: Growth District, Defense District, Technology District and Currencies District.
- The announcement explains that 2022 will be the year for new implementations like “Shibarium,” which will be the Layer 2 solution in which the metaverse will be developed and “SHI,” the Shiba Ecosystem stablecoin which the announcement states that, “is going to open new investment opportunities through the system Shib is currently developing.”
- The announcement also explains that users who own land in the metaverse will be able to generate passive income, gather in-game resources, and generate rewards. It reads, “By becoming a landowner, users will unlock some truly amazing features, and privileges, that will be revealed on further phases and blog/medium posts releases in the near future.”
- The announcement explained that Shiba Inu will play “many special roles in the metaverse,” including a mechanic to burn Shiba Inu tokens independently while renaming your land plot, same as the platform did when Shiboshi’s were launched.
- As a way to appreciate its Shiboshi NFT holders, the announcement explained that there will be a special area, consisting of 2,000 restricted plots of land that these holders will have early access to bid or purchase during the lands Early Access Bid Event & Holder Event.
- It explained that a Shiboshi holder snapshot was taken on the 21st of February 2022 and 3,593 addresses were found. It then stated, “2,000 from total of 3,593 addresses have been whitelisted, completely randomized, to access that zone, with no limits per wallet, except for the total mint cap that affects everyone equally.”
- It then stated, “Should there be any lands without bids after the Bid Event (On the Shiboshi Zone Assigned plots only). If that happens, the remaining 1,593 addresses on the snapshot will be able to purchase them during the Holder Event.”
- The announcement explained that the team is in the final stages of signing a contract with AAA Game Developer Studio. It reads, “While the AAA Gaming Studio will be in charge of the artistic development, The Shiba Inu Development team will manage the complete blockchain implementation of it.”
