Launched in August 2020, Shiba Inu has created a huge buzz in the cryptocurrency space ever since October 2021 when the meme token spiked +1,000% in 30-trading days reaching an all-time high at $0.00008616. The token based on a dog meme is dubbed a DOGECOIN killer. It has managed to garner much attention for its growing demand in the world of cryptocurrencies.
While there are several Shiba Inu projects awaiting launch this year, the new Shiba Inu meta verse is ready to offer users a new experience of having ownership to virtual lands. The SHIB team has recently launched Shiba Inu's metaverse SHIB - The Metaverse.
Reportedly, there will be 100,000 land plots available in the virtual environment of the new project. SHIB has announced that a total of 36,431 plots will be available for purchase in the "introductory phase" of the metaverse across four districts.
While LEASH or BONE were the tokens eligible for purchasing the lands as announced by the SHIB team earlier, latest updates on the SHIB metaverse reveal that all the plots of land must be purchased with Ethereum tokens only.
Why Shiba Inu is Using Ethereum (ETH) Instead of SHIB?
Plots have been divided into four grades, the cheapest is Silver Fur, which costs 0.2 Ethereum (ETH), while the most expensive is the Diamond Teeth that costs 1 Ethereum (ETH).
Explaining why the team is using Ethereum (ETH) and not SHIB or any other token for the purchasing of the lands, the team said, "As we will use the collected funds to pay for the metaverse development, the team has decided to use a neutral coin that can be sold into stablecoins in order to pay all the sources."
"Using our ecosystem tokens is a risk, as we would need to dump our own tokens price cashing them," the team added.
Moreover, the SHIB team has planned a 72-hour bidding event for those interested in purchasing Shiba Inu's virtual property "in a fresh and unknown Shib universe," according to a report published by WatcherGuru.