The Shiba Inu (SHIB) community was excited earlier this week when the details of the project called SHIB: The Metaverse were revealed. Despite the excitement of the Shiba Inu community following the release of SHIB: The Metaverse, not many people have extensive knowledge of the upcoming project. In this article, we will try to present all the details about the new project.
SHIB: What is The Metaverse?
According to the team behind the initiative, SHIB: Metaverse is a project that showcases almost everything about the Shiba Inu, including its history. Using beautiful visuals that capture its innovation and unity, the initiative creates a virtual representation of the history of the Shiba Inu while also establishing a home for SHIBArmy, a name given to the project’s backers. The entire Shiba Inu ecosystem, including S
HIB, LEASH, BONE, and the upcoming play-to-win (P2E) game, each token is integral as new stages emerge. will be positioned in the metaverse. The Shiba Inu team has stated that it will partner with AAA Game Developer Studio to raise funds that will be channeled into the development of the metaverse.
Projects in the Shiba Inu metaverse
Currently, the Shiba Inu owns a world with a total of 100,595 plots of land. The plots of land, which will be released in stages, will give SHIBArmy the opportunity to be a part of the “Shiba-inspired environment.” The project team does not plan to give all of the lands to the community as some will remain private and will be used as “common ground” for streets, boulevards and centres.
As for the allocation of the plots, the lands will start to be allocated at the “entry stage”. During the promotion phase, a total of 36,431 parcels will be made available to the public. The lands at this stage will be divided into four tiers accordingly as follows:
- 1. Stage (Diamond Teeth): 2,024 parcels
- 2. Stage (Platinum Claw): 5.714 parcels
- 3. Stage (Golden Tail): 7,356 parcels
- 4. Phase 1 (Silver Fur): 17.030 parcels
- Special centers: 4.307 parcels
What will the land prices be like?
According to the details published yesterday, land prices vary according to the tier you are interested in. Contrary to what many supporters thought would use tokens in the ecosystem, the developers decided to use Ethereum (ETH) as the land pricing cryptocurrency. The move is designed to avoid any downside risk to the Shiba Inu native cryptocurrencies, as the team plans to convert a large percentage of the funds raised through the auction into stablecoins to pay the necessary fees to all parties involved. According to the price pricing details of the parcel, the minimum fixed price for each floor is as follows:
- 1. Tier (Diamond Teeth) = 1 Ethereum
- 2. Tier (Platinum Claw) = 0.5 ETH
- 3. Tier (Golden Tail) = 0.3 Ethereum
- 4. Layer (Silver Fur) = 0.2 Ethereum
What are the benefits of owning land in the Shiba Inu metaverse?
The project team described the opportunities for owning lands in the SHIB virtual reality world and broadly includes:
- Landowners can be part of the Shiba Inu success story.
- You can generate active and passive income through a number of initiatives.
- You can have unique space in the ecosystem to create and distribute personal projects.
- Land owners will have access to special privileges and features in the ecosystem.
- You can create more awareness for your brand by making your name appear on your land.
How will it be accessed?
The developers noted that the metaverse project and other future projects will be accessible via the new domain name SHIB.io. Community members are advised to exercise caution when accessing the website to avoid visiting a copy domain that could lead to a phishing attack.
What will the process of participating in land sales be like in the Shiba Inu metaverse?
The Shiba Inu team chose to adopt three phases to enable people to purchase land in the metaverse.
- Offer event
SHIB: To participate in the process of acquiring a plot on The Metaverse using this procedure, you can use your LEASH token in a newly developed locker tool on the official website or You will need to lock your Shiboshi NFT. Assets will be locked for a minimum of 45 days and the offer will last for 72 hours (three days). Users can use an interactive map to find any plot they want and place their bids in ETH.
Funds will be deducted from your wallet immediately and you will be allowed to mint the plot when no one bids more than you bid. Similarly, if another user bids more than your bid, the deducted money will be returned to your wallet.
- Investor event
This is a process to reward loyal LEASH and Shiboshi holders who did not have the opportunity to participate in the offering event. This phase will begin immediately after the bidding event has ended and will last seven days. People who lock their LEASH and Shiboshi using the official locker will be allowed to purchase the remaining plots that were not sold in the first stage.
- Public sale
At this stage, people who are unable to attend the first two stages because they don’t have LEASH and Shiboshi will be eligible for the first two events. 10 days after expiration, they will be allowed to purchase the remaining available land. For this process, anyone can buy land for each floor at the fixed prices stated above. Shiba Inu announced that it will distribute 3% of all revenue from land sale events to all LEASH lockers participating in the first two phases. The rewards will be distributed as BONE tokens and will be released during the unlock period.
Shiboshi and the LEASH lcoker program
The Shiba Inu team does not plan to wait any longer to start selling the virtual reality land as it has unlocked the locking system for Shiboshi and LEASH. Shiboshi and LEASH lockers will enable owners to lock these assets for a specified period of time to participate in the upcoming land sale. As mentioned in this article, investors participating in the LEASH and Shiboshi locker program will be eligible to participate in bidding and ownership events, the first two stages of the land auction.
Traders wishing to participate in the first two events of SHIB can lock the minimum amount of LEASH 0.2, maximum 5 LEASH. Similarly, Shiboshi holders will need to lock a minimum of 1 to a maximum of 10 NFTs. It’s worth noting that the number of LEASH and Shiboshi you lock will determine the amount of land you can bid on.
Also, investors who want to participate in the first two events will be asked to leave their locked Shiboshi and LEASH in locker for a minimum of 45 days and a maximum of 90 days. After you have successfully locked your assets, you can use the map provided on the platform to place your bid using Ethereum during the first sale event.
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