What is SHIB: The Metaverse?
SHIB: The Metaverse is the Shiba Inu ecosystem’s own metaverse space, described by developer Eric M. Eric M claims that the entire Shib Army community will be integrated into the Shiba Inu metaverse with tokens, games, and much more related to the ecosystem. The team recently confirmed that the name of the upcoming metaverse is SHIB: The Metaverse, which was previously referred to as the Shiba Inu metaverse.
In total, SHIB: The Metaverse will sell 100,595 plots, which will be released gradually over three distinct phases. LEASH and the Shiba Inu non-fungible token owners are only eligible for the first two phases (NFT). In the final stage, there are no major restrictions on who can participate.
How does SHIB: The Metaverse work?
The people behind the Shiba Inu project claim that the Metaverse will have 100,595 plots of land that users can create. With their plots, landowners can gather resources for the game, earn rewards, and make a passive income. In addition, the designers want to give players a way to make money and guarantee that they have a private area where they can work on their projects.
Due to the fact that some of the lands are locked as essential hubs for metaverse travel, not all of them are available to mint or buy. Those areas, which represent bridges connecting various regions of the metaverse, will continue to be private and used as common areas.
SHIB: The Metaverse is divided into four districts:
- Growth District
- Defense District
- Technology District
- Currencies District
How to buy land in Shiba Metaverse?
In the SHIBA Metaverse, purchasing land requires money, but it takes the form of cryptocurrency tokens instead of cash. There are 100,595 virtual plots available for purchase overall. The sale of plots will occur in three stages to keep everything as fair as possible and to ward off bots.
The team will first disclose 36,431 land plots, of which only 32,124 are up for sale. Priority is given to those who possess a LEASH token or a Shiba Inu NFT out of courtesy. Shiba Inu NFT and LEASE holders are granted early access, but these assets are not used in the transaction. Instead, ETH, Ethereum’s native cryptocurrency, is used for the sales transaction in SHIB: The Metaverse.
A specific plot’s location in SHIB: Users have to pay whatever price the Metaverse decides. In accordance with this, these 32,124 plots are divided into four groups based on how valuable they are deemed to be. The base cost is broken down as follows:
- Tier 4 — Silver Fur: 17,030 Land Plots — Price starts at 0.2 ETH (Approx. $650)
- Tier 3 — Gold Tail: 7,356 Land Plots — Price starts at 0.3 ETH (Approx. $950)
- Tier 2 — Platinum Paw: 5,714 Land Plots — Price starts at 0.5 ETH (Approx. $1,600)
- Tier 1 — Diamond Teeth: 2,024 Land Plots — Price starts at 1 ETH (Approx. $3,200)base price:
Each plot is sold using a bidding process so that everyone has an equal opportunity. The highest bidder wins if more than one person is interested in purchasing a land plot.
Each auction will be open for 72 hours. The person with the highest bid after the 72-hour period ends wins the right to own the plot. Although each plot has a starting bid that indicates the lowest price at which it can be purchased, keep that in mind.
Also Read: Is ChatGPT The New Google? How Crypto Traders May Benefit From It
Holders of LEASH and Shiba Inu NFTs will have another opportunity to purchase land parcels during the second phase, known as the Holders Event. The same procedures will apply to the second phase. However, there won’t be any bids this time. Each virtual plot will be sold for a set, predetermined price. This stage will begin immediately following the conclusion of the first stage and last for seven days. If LEASH and Shiba Inu NFT holders missed out on the initial phase, they now have the opportunity to purchase land in SHIB: The Metaverse.
After the second stage has ended, the third and final phase will launch, which is a 10-day public sales event. Anybody can attend this event. Land in SHIB: The Metaverse can be purchased without using LEASH or NFT tokens. Similarly to this, there will be no auction; each plot will sell for the going rate on the market.
Activities possible in SHIBA Inu Metaverse
Shib Metaverse has recently launched, and those who are interested have been busy examining their options in this brand-new Metaverse addition! Here are the top 4 things you can do, in no particular order.
1. Virtual Land
Similar to how a city would be developed in real life, lots are plotted, distracted, and then submitted for approval. The Metaverse operates similarly to the real world. Following approval, the packages will be registered on the blockchain. Following the districting and plotting of Shiba Land by our architects and developers, the plans will be posted on the Shiba Land Marketplace for Community Members to view. The size, cost, and district of each plot will be displayed there for Members to see. Following that, Members can buy a lot of their choice.
In Shiba Land, there will be an entertainment district. All of your favorite entertainment venues are located in this area of the city. In addition to small music clubs where you can enjoy intimate performances from your favorite artists. However, there will be movie theatres with the most recent releases, art galleries with the hottest NFT inside, and even movie theatres with the newest releases. This will be one of Shiba Land’s trendiest neighborhoods.
3. For Business
The commercial area will provide a range of opportunities to the business community that seeks to deliver its products and services to the virtual world from the actual one in real-time. There will be a variety of modern office buildings populated by medical professionals, legal professionals, accountants, and other business experts. The best of 3D E-Commerce & Metaverse will be presented here.
Shiba Land Business Members will have many opportunities to promote their companies to the Shiba Land Community. Businesses can rent spaces in the mall along main thoroughfares to be seen by people walking by. Additionally, there will be park benches, and billboards, and for the serious investor, the side of buildings in prominent downtown locations will also be an option.
Also Read: My Neighbor Alice: An Introduction To The Play-To-Earn Crypto Game
Why explore SHIB: The Metaverse?
Due to the growing interest in the Metaverse space, experts believe that it might be a worthwhile area for interested investors to investigate. Here are the 3 reasons why users should check out SHIBA land.
- Reason 1: Lands in the Metaverse are rare and could be manipulated or under control.
- Reason 2: Modern real estate serves as the foundation of the Metaverse’s economic paradigm. In reality, the value of land in a desirable city location can rise over time. In the metaverse, you can design your territory to be exactly what you want.
- Reason 3: Users decide what they want to do with the land. Users have the option of creating a grand house that doubles as a business or a modest cabin in the woods.
Benefits of owning Shiba Inu Metaverse land
The project team has revealed exciting opportunities linked to owning land parcels in the SHIB virtual reality world, including The Shiba Inu success story can include landowners.
- Utilize a variety of strategies to generate active and passive income.
- Having a special area in the ecosystem where one can develop and implement one’s own projects
- Owners of land will have access to unique benefits and ecosystem features.
- Display your name on your property so that people will be more aware of your brand
How to mint land in SHIBA Inu Metaverse
The Shib.io website is where land is minted in SHIB: The Metaverse. Users can access their reserved and acquired lands via the top menu, where they can also mint their land plots individually or in bulk to avoid unnecessary gas fees. To bid on or purchase SHIB lands, users must first create a MetaMask wallet or a wallet compatible with WalletConnect and link it to the Shib.io website. As of this writing, the sale has entered the Public Sale phase, which means that it is open to everyone, not just those who have locked up LEASH or Shiboshis.
LEASH and SHIBOSHI Lockers
To encourage early access to SHIB: The Metaverse, lockers have been built. Sales will be streamlined as a result of this anti-dumping mechanism. Participants must lock LEASH and SHIBOSHIS for a set amount of time prior to bidding on the plots in order to prevent monopolization of the sales event. On the website, a helpful calculator allows potential investors to determine how much land they can earn.
While anyone can lock up to a total of 5 LEASH or 10 SHIBOSHIS, the minimum amount to lock is 0.2 LEASH or one SHIBOSHI. The length of the locking period may range from 45 to 90 days, depending on the assets. 200 land plots are the maximum mint per wallet. The most you can mint per wallet is 400 plots of land if you use LEASH and SHIBOSHIS separately. The locking period is automatically shortened if users are outbid. The system will distribute 3% of the proceeds from the event to everyone who has either locked their assets or participated in the bidding process as compensation for the locked time.
Also Read: Explained: What Are PFP NFTs And How Do They Work?
Whether or not to invest in SHIBA Inu Metaverse
Only time will tell what return on investment (ROI) users can expect when purchasing land in SHIB: The Metaverse. Retail investors and institutions, however, have consistently invested money in projects of a similar nature. Shib metaverse has consequently attracted a lot of interest from the potential community.
If users are metaverse investors, they will be aware that The Sandbox and Decentraland are already flourishing in this domain. However, SHIB: The Metaverse is by no means the first metaverse project. Nevertheless, there are many reasons to think that shib metaverse will give the competition the traction it needs. Also, the native token’s larger market cap is just one of them. SHIB has historically experienced significant volatility following major announcements, which can be advantageous for bullish investors.
Dogecoin Co-Founder Criticizes Shiba Inu Team
Billy Markus, a co-founder of Dogecoin, has criticized the Shiba Inu team for seeking to increase their level of financial gain. He also seems to think that the Shiba Inu team might be turning the $SHIB metaverse land into a security in the eyes of the U.S. Securities and Exchange Commission (“SEC”) by promising “passive income” to land buyers.
Shib a thriving community and a number of ardent investors support the Metaverse. This initiative will probably enhance the current ecosystem and enable developers to experiment with new concepts. It might provide its founding members with significant returns in the future.
Disclaimer: This is not investment advice. Please do your due diligence before investing in any asset.
Also Read: What Is Gameta: How To Play Web3 Games On Gameta?