On Wednesday, the Shiba Inu team announced on Twitter that the native SHIB token holders are now able to buy land in SHIB: The Metaverse. Initially it was possible to purchase land using ETH only and now the team has provided the utility for holders to purchase land in the Shiba metaverse.
It was later announced in a following Tweet that landowners in the SHIB can also mint parcels of land in the recently unveiled virtual reality project. 100,595 different pieces of land are currently on offer in the SHIB: The Metaverse. However, these land plots are set to be released in phases, being divided into four categories: Silver Fur, Gold Tail, Platinum Paw and Diamond Teeth, priced between 0.2 ETH to 1 ETH.
The Metaverse will be developed in Shibarium, a forthcoming Layer-2 scaling solution for SHIB. It will bring about several features including the possibility to generate passive income, gather in-game resources, and generate rewards, although these are yet to be revealed. The price for buying lands start at the equivalent of 0.2 ETH in the meme-inspired cryptocurrency.
Having $LEASH tokens on their wallets, users will be able to purchase land on SHIB. $LEASH is another token used within the SHIB ecosystem along with BONE and others, which developers say will play more of a significant role as the metaverse project is developed. SHIB will be burnt when land purchasers rename their plots of land. Everyone will be able to acquire the remaining accessible lands on the map at a preset price during the open public sale event, without having to lock any of their ecosystem assets.
Shiba Inu price currently holds at 0.00002147 and has been down 12.3% over the past two weeks. The increase in holders may not have an immediate influence on the price with SHIB gaining roughly 6% in the last 12 hours.