Shiba Inu Announces Plan To Enter Metaverse, Likely To Compete With Decentraland

After gaining prominence as the “Dogecoin Killer”, Shiba Inu has now detailed its vision to enter the so-called Metaverse. The creators of the popular cryptocurrency have shared some details of the SHIB: The Metaverse. The much-awaited project will have more than 1 lakh land plots, some of which will remain private (not to be sold) so that they could be used as common grounds, representing roads, parks, commercial or social hubs. Those categorised as the public property will be available for purchase by participants.

Explaining the vision for SHIB: The Metaverse, the creators said in a blog post that the project will have 100,595 plots of land and each of them will be “an exciting opportunity” for participants to enter the immersive Shiba inspired environment. They said all the three Shiba Inu native coins — SHIB, LEASH, and BONE – will have a role in the project as the phases roll out. But biding for the plots will be done in Ethereum.

The creators said that the development of the Metaverse project continues and plots will start to release soon. “During our introductory phase for SHIB: The Metaverse, 36,431 plots of land will become unlocked, while welcoming and revealing a part of 4 different Districts: Growth District, Defence District, Technology District, and the Currencies District,” they added.

The plots have been divided into four categories for the first phase in the increasing order of their importance and likely demand, namely Silver Fur (Tier 4), Gold Tail (Tier 3), Platinum Paw (Tier 2), and Diamond Teeth (Tier 1).

There will be 17,030 Tier 4 plots, 7,356 Tier 2 plots, 5,714 Tier 2 plots and 2,024 Tier 1 plots. As many as 4,307 plots will be locked as private.

The minimum and fixed prices for each Tier have been set as follows:

-- 0.2 ETH for (Tier 4) Silver Fur

-- 0.3 ETH for (Tier 3) Gold Tail

-- 0.5 ETH for (Tier 2) Platinum Paw

-- 1 ETH for (Tier 1) Diamond Teeth

Cryptocurrency experts say Shiba Inu is entering the Metaverse to compete with Decentraland, another player in the 3D virtual world which was opened to the public in February 2020.