Dogecoin (DOGE) Co-Founder Strongly Criticizes Shiba Inu’s Metaverse

Dogecoin (DOGE) co-founder Billy Markus believes Shiba Inu’s (SHIB) metaverse project is a useless monetization effort for the developers behind the second largest meme cryptocurrency.

Dogecoin co-founder Billy Markus has been harshly critical of Shiba Inu’s metaverse project in a series of recent tweets. The software developer, who is prominent on Twitter for his frequent interactions with Tesla CEO Elon Musk, claims that selling fake land with Ethereum will not increase the utility of the cryptocurrency.

As previously reported, Shiba Inu has revealed the details of its metaverse project, which was first announced in early February. In the first phase of rollout, more than 10,000 plots will be made available. The team claims that it chose Ethereum (ETH) for pricing because it is a neutral cryptocurrency.

Markus claims that the metaverse project is just a tool for developers who want to make more money. Markus estimated that the team could potentially raise $300 million by selling fake land. The Dogecoin co-founder also warned that securities regulators may object to the Shiba Inu team’s plan to allow landholders to earn passive income.

The Shiba Inu, which originally positioned itself as a “Dogecoin killer”, was released last October when the original meme coin was released. managed to exceed market value. In November, Markus accused the Shiba Inu community of harassing him and asked members to leave him alone after he was flooded with spam messages. The Dogecoin co-founder has repeatedly stated that he has nothing to do with the competing meme token.

Meanwhile, veteran cryptocurrency analyst Alex Krüger argues that metaverse land is actually extremely expensive because it can be produced in infinite quantities.