Shiba Inu Token developers have announced that the SHIB ecosystem will soon kickstart its new virtual real estate business, allowing users to buy plots of land in an upcoming, yet-to-be named metaverse. SHIB developers in their blog post mentioned that the Shiba Inu metaverse is in its initial phase of development and its official name is expected to drop this month.
Shiba Inu's official blog post mentions that in 2020 alone, the worth of Metaverse was approximately $478.7 billion, which is roughly the size of the entire home services industry in the US alone. The Metaverse space is growing rapidly with enormous interest from small and large companies alike.
"The metaverse is set to be one of the biggest areas within crypto for many to enjoy, while others will produce content and developers will set up shops within using it as another great resource to offer crypto communities incentivization, content, and regular royalties," the blog post read.
How can you purchase Shiba Inu's Virtual Lands?
"Shiba Lands" inside the upcoming Shiba Inu metaverse will be available for purchase using $LEASH tokens only. Moreover, the Shiba Inu ecosystem developers are working on a queue system, specifically designed for smooth sales of Shiba Lands.
In order to get access to the first selling phase of the land plots of Shiba Inu real estate metaverse, interested parties will have to hold $LEASH while the remaining Shiba lands will unlock and become available for purchasing by the public only after this exclusive selling process finalises, according to Shiba Inu developers.
Shiba Inu's Ongoing Projects
While the Metaverse is just one of the latest updates of Shiba Inu, there are several other ongoing projects in that SHIB ecosystem expected to be launched phase-wise. Shibarium is likely to be released first and the SHIB team has confirmed that the private testnet has gone live. Lead developer of ShibaSwap, Shytoshi Kusama has revealed that the public testnet will be out soon.
Shiba Inu Trading
At the time of penning this article, Shiba Inu was trading at $0.00003278 up by +4.32% with a market cap of $17,999,449,783 while the world's oldest cryptocurrency Bitcoin (BTC) was trading with a gain of 1.84% at $44,393.47 with a market cap of $841,423,844,489, which is up by 1.85%, according to CoinMarketCap.