SHIB Metaverse: Shiba Inu is one of the best-known cryptocurrencies on the market, and was launched in August 2020. A little over 5 months ago, it announced a new project in the works known as SHIB Metaverse.
Within the new Shiba project, there will be 100,595 plots of land for sale. In the first phase, a total of 32,124 plots of land will be made available for purchase by users.
Users will be able to carry out different actions within the Shib Metaverse. These include studying, working, and carrying out different transactions such as land purchases known as Shiba Land.
The land lots will be divided into 4 categories: Silver Fur, Gold Tail, Platinum Paw and Diamond Teeth. The price of the land lots will be between 0.2 Ether to 1 ETH.
Also within the virtual universe, players will have the opportunity to acquire and win different NFTs such as BONE, LEASH and Shib.
SHIB Metaverse and Effect on the Cryptocurrency
The Shiba Metaverse project will undoubtedly have an impact on the price of the cryptocurrency, but what will it be?
Nicolas Tang is the Director of Internal Communications in Phemex. “Shiba metaverse project is a fascinating case study of how a meme coin is attempting to evolve into much more. The fundamental problem with all meme coins is a lack of long-term utility. Arguably, ShibaSwap was the first significant step toward resolving this. A metaverse, of course, is much more ambitious. They are literally creating a world of utility, where SHIB will be the primary currency used to purchase, access, and modify land plots. In theory, this all sounds great, yet I am highly cautious in predicting any sustained growth. After all, with so many competitors, it remains unclear whether this metaverse will be better or wanted at all. Nevertheless, given the strong community and support that the token commands, Phemex will continue to observe and offer support where needed.”
Max Krupyshev is the of CoinsPaid. “Within the Shiba metaverse, as with any metaverse, microtransactions will become omnipresent. Users will be able to earn passive income, gather in-game resources and rewards, build and manage individual projects, and most importantly, purchase land. There’s no doubt that a robust crypto payment processor is required here. That’s where we come in; at CoinsPaid, we’re looking to provide seamless and secure crypto processing within the Shiba metaverse while applying state-of-the-art crypto transaction monitoring.”
In recent weeks the price of Shib has been rising, with a market cap of $6.79bn, having reached a value of $0.00001237 and with a value increase of 5.62% in the last week.
The metaverse project is expected to generate an upward impact on the value of the cryptocurrency.
The number of transactions that will be carried out for the purchase and sale of the land will have two direct consequences on the cryptocurrency:
1. Increase in operations and use of the cryptocurrency
2. Increase in the price of the cryptocurrency
With the commitment to this new project, the value of SHIB will no longer only depend on its intrinsic value but also on the success of the project.
The Shiba metaverse project is undoubtedly one of the most notorious projects in recent months in the crypto ecosystem. Many observers will watch the metaverse evolve and the evolution of SHIB from memecoin to established cryptocurrency.