Shiba Inu (SHIB) announced that it will be creating its own metaverse. The developers behind the popular meme cryptocurrency Shiba inu (SHIB) have announced details of their virtual reality project “SHIB: The Metaverse.” Shiba announced that there will be 100,595 lands in the metaverse and some of these lands can be used as private property areas.
Developers decided to use ether, Ethereum’s native cryptocurrency, as a land pricing token. To ensure that there is no downside risk to the Shiba native token, the team decided to use a neutral cryptocurrency as the land pricing token. “Using our ecosystem tokens is a risk because we have to lower the price of our own tokens in exchange for them,” the developers said in a statement on Wednesday. “This is far from our plans,” they said.
Land buyers will be able to earn passive income, collect in-game resources, and generate rewards, which the team says will be announced soon. Land owners will be able to use the dog-themed SHIB token and rename their land.
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