Shiba Inu (CRYPTO: SHIB) — the self-described “Dogecoin (CRYPTO: DOGE) killer” — plans to release 99,000 plots of land in Shiberse, a codename for the cryptocurrency’s upcoming Metaverse.
What Happened: The virtual real estate will be released in different phases, the project behind the token said during a Shiba Inu AMA event hosted by Watcher Guru on Tuesday.
#ShibaGuruAMA starting soon, join now, and get ready! https://t.co/5CtjrkNby235,000 plots of land will be released in the first phase during a 10-day event and be sold through a bidding system, where Doge Killer (CRYPTO: LEASH) token holders would get first access to purchase the lands.— Shib (@Shibtoken) February 23, 2022
The second batch of plots would be open for purchase to everyone and not just Leash holders. Investors will need to purchase the lands using Ethereum (CRYPTO: ETH).
There are three different tokens native to Shiba Inu’s platform: Shiba Inu, Doge Killer and Bone ShibaSwap (CRYPTO: BONE).
Shiba Inu also announced the launch of a "burn portal" during the same event, saying the network would conduct coin burns through its own burn gateway, instead of relying just on prominent community members.
JUST IN: Shiba Inu announces the launch of a “burn portal” coming soon.See Also: How To Buy Shiba Inu (SHIB)— Watcher.Guru (@WatcherGuru) February 23, 2022
Why It Matters: Shiba Inu said earlier this month that Shiba Lands, the “lands” inside the Shiba Inu Metaverse, will be available for purchase/auction soon.
The Metaverse foray by Shiba Inu is part of a larger trend by meme coins to see more utility.
Baby Doge Coin — another meme cryptocurrency — hinted last week that it is making its foray into the metaverse.
Shiba Inu is the fourteenth largest coin by market capitalization, as per CoinMarketCap data.
Price Action: Shiba Inu is up 5.4% during the past 24 hours, trading at $0.00002509 at press time.
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