Shiba Inu metaverse lands can now be purchased in $SHIB

The team behind the meme-inspired cryptocurrency Shiba Inu ($SHIB) has announced that users can now purchase land in the project’s metaverse with its native SHIB token. This decision was made at the request of users.

According to a tweet shared by the project’s official account, SHIB: The Metaverseusers can now mint land in the digital world using SHIB, with prices starting at the equivalent of 0.2 ETH.

The Shiba Inu metaverse land minting began earlier this year, allowing SHIB fans to start getting land on the platform with Ethereum while having $LEASH tokens on their wallets. $LEASH is another token used in the SHIB ecosystem.

SHIB was not originally accepted as a means of monetizing land in the Shiba Inu metaverse, as all funds raised are intended to be converted into stablecoins for “pay for metaverse development“. Accepting SHIB, BONE or LEASH would increase the selling pressure on these tokens.

The SHIB metaverse consists of 100,595 plots of land, of which 36,431 were unlocked and available for purchase during the metaverse’s intro phase. These 36,431 plots will be located in one of four districts: Growth, Defense, Technology, and Currency.

Prices for these districts range from 0.2 ETH to 1 ETH. The Shiba Inu team kept 15 plots of land as a reward for “those who are heavily involved in the current and future development of MV.”

SHIB metaverse landowners, it should be noted, are fixed to be “able to generate passive income, collect in-game resources and generate rewards.“The SHIB will be burned when land buyers rename their plots.

The SHIB cryptocurrency briefly became the top token held by Ethereum’s whales after overtaking FTX’s $FTT token and the top stablecoin USDT among the network’s largest whales.

The listing was celebrated by the Shiba Inu community at large, but apparently did not entice long-term holders to shed their holdings. Data from Coinbase shows that the typical median holding time for SHIB on the platform is over 120 days.

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