Shiba Inu has a new use case — Buying land in SHIB: The Metaverse
Holders of the popular memecoin Shiba Inu (SHIB), will now be able to use the cryptocurrency to purchase land in the Shiba metaverse.
On Wednesday, the Shiba Inu team took to Twitter to reveal that the SHIB token could now be used to mint parcels of land in the recently unveiled virtual reality project “SHIB: The Metaverse.”
New minting option has been released on https://t.co/f2oLn05qWk!Mint lands with $SHIB! Minting with $SHIB Details:0.2 ETH equivalents in $SHIB0.3 ETH equivalents in $SHIB0.5 ETH equivalents in $SHIB1 ETH equivalents in $SHIB#ShibTheMetaverse #ShibMV pic.twitter.com/mOrpwDSkDK
There are 100,595 different pieces of land on offer in the SHIB: The Metaverse. Initially it was only possible to purchase land using ETH. Now, SHIB’s integration into the metaverse project makes it possible to not only purchase land, but grants users added customisation options for their virtual land as well.
Landowners in the SHIB: The Metaverse will be able to generate passive income, gather in-game resources, and generate rewards, although these are yet to be revealed.
Land plots in the SHIB metaverse are set to be released in phases. The introductory stage saw 36,431 plots become unlocked on April 13 with the land being divided into four categories: Silver Fur, Gold Tail, Platinum Paw and Diamond Teeth, priced between 0.2 ETH to 1 ETH.
Despite the popular narrative that paints SHIB out to be a simple memecoin, solely driven by hype and Elon Musk tweets, the SHIB ecosystem has grown to support include NFTs and the Defi-platform ShibaSwap.
The SHIB ecosystem is additionally comprised of subsidiary tokens, including LEASH and BONE, which developers say will play more of a significant role as the metaverse project is developed. At
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