Good news for SHIB: The Shiba Inu has a new use case – Buying land in SHIB: The Metaverse





The Shiba Inu Memecoin can officially be used to purchase land in the SHIB metaverse using the native SHIB token as the development team continues to provide useful services to holders.

Holders of the popular Shiba Inu memecoin (SHIB) can now use the cryptocurrency to buy land in the Shiba metaverse.

On Wednesday, the Shiba Inu team revealed on Twitter that the SHIB token can now be used to plot conspiracies in the recently unveiled “SHIB: The Metaverse” virtual reality project.

100,595 different terrains are offered in SHIB’s metaverse: The Metaverse. Initially, it was only possible to buy land with ETH. Now, the integration of SHIB into the Metaverse project not only makes it possible to purchase land, but also gives users additional options to customize their virtual land.

Land owners in SHIB: The Metaverse can generate passive income, collect in-game resources, and generate rewards, although these are yet to be revealed.

Plots in the SHIB metaverse will be unlocked in a phased manner. In the launch phase, 36,431 plots were unlocked on April 13, with the plots split into four categories: Silver Fur, Golden Tail, Platinum Paw and Diamond Teeth, which range in price from 0.2 ETH and 1 ETH.

Despite the popular discourse that portrays SHIB as just a memecoin, powered solely by the hype and tweets from Elon Musk, the SHIB ecosystem has grown to support NFTs and the Defi ShibaSwap platform.

The SHIB ecosystem further includes additional tokens, including LEASH and BONE, which the developers believe will play a greater role as the metaverse project expands. Currently, holders who lock their LEASH have priority in offering land, while BONE is a governance token that allows holders to vote on decisions related to the development of the metaverse.

According to a recent report from the Unification Foundation, SHIB: The Metaverse will be developed in Shibarium, a Layer 2 scaling solution for SHIB. A public test of Shibarium is expected to launch in the coming months, with a public beta expected to follow shortly after.

On April 23, the developers launched the SHIB brand portal, ShibBurn, which removed more than 22.5 billion SHIB tokens (about $500,000) from circulation. Since SHIB’s inception, approximately 410.32 trillion SHIBs, or 41% of the total stock, have been burned.

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