Virtual lands will start to be auctioned from 0.2 ETH to 1 ETH.
Each plot acquired will generate passive income for their respective owners.
The creators of Shiba Inu (SHIB), the popular cryptocurrency, have been making efforts to shed the label of being just a meme coin and have developed some services. This includes the long-awaited metaverse they’ve called “Shib: The Metaverse.”
For the team behind the project, this is “the culmination of history as a community, virtually shown in a layer of beautiful images that show our innovation and unity with a place to truly call home,” as they explained through a release posted on Shiba’s blog.
However, the next release of the metaverse, which does not have a date yet, has generated Complaints about being developed on the Ethereum blockchain, instead of being powered on Shiba’s much-hyped blockchain, called Shibarium. This network does not yet have a launch date, although the document states that it will be activated soon.
It should be noted that, since 2020, the Ethereum network is usually quite congested, creating a bad user experience due to high commissions and their slowness.
A cryptocurrency enthusiast and developer who goes by Twitter as Atari Metaverse Gaming (@ShibaShibarium), was one of those who complained about the metaverse launch and the slowness of the Shiba team to launch its own blockchain.
“Shibarium development is too slow. The metaverse won’t be ready for another year or so. Shibarium must be the first priority. Even game development from the studio takes too long. But Shibarium should be a priority », he stated.
Another user (@shib555) of the social network said that he has been waiting for Shibarium for the last six months, but now believes he has been too optimistic. “I’m going into hibernation after buying the land for Shib The Metaverse,” he wrote.
Ether to access virtual lands
The virtual lands of the metaverse will be auctioned in ether, Ethereum’s native cryptocurrency with prices that they will start from 0.2 ETH to 1 ETH and not in the SHIB crypto asset itself.
The developers have justified the use of ETH because it is a “neutral currency that can be sold in stablecoins to pay for all sources.” They also believe that using tokens from their ecosystem is a “risk” because they would have to be disposed of. of the price of their own tokens to collect themsomething that distances itself from their plans, as explained in the text.
Distribution of the plots
“Shib: The Metaverse” will be made up of a total of 100,595 plots, some will be used as common land representing highways, avenues, boulevards and axes, while others will remain private. As a starter, the developers will unlock 36,431 plots that will be spread over four different districts: Growth District, Defense District, Technology District, and the Coin District.
Within those districts there will be various tiers of parcels, tier 4 (Silver Fur) will have 17,030 lands, tier 3 (Gold Tail) will have 7,356, tier 2 (Platinum Leg) 5,714 lands, and tier 1 (Diamond Teeth) will have 5,714 lands. it will have 2,024 virtual plots.
“The release of land, while introducing this first phase, brings perhaps one of the most important factors, and that is the determination of the value of the land based on its location,” the developers explained.
The purchase of the virtual lands will last three days. Shiba’s team ensured that those who acquire plots will be able to generate passive income, gather in-game resources and generate rewards. They will also unlock some features and privileges, which will be revealed in later phases.