Shiba Inu Presents Its Metaverse but Picks ETH Over SHIB for Payments

Key Insights:

• Shiba Inu introduced its Metaverse called SHIB: The Metaverse.
• The Metaverse will have consist of 100,595 plots of land divided into four tiers.
• SHIB’s price action, on the other hand, has been lackluster.

Almost two months after their initial announcement of an upcoming Metaverse, then titled “Shiberse”, Shiba Inu has finally unveiled it.

As per the introduction made yesterday, Shiba Inu’s Metaverse will be called SHIB: The Metaverse, and it will be unlike any other Metaverse in the space.

Shiba Inu Brings Its Metaverse

FXEmpire had reported in February about the earlier version of the meme coin network’s Metaverse, where Shiba Inu ecosystem tokens SHIB and LEASH were destined to play an important role.

With yesterday’s announcement, Shiba Inu has confirmed that that will be the case. However, Ethereum’s ETH will now have a significantly bigger role born out of not so noble intentions.

Know that SHIB: The Metaverse will be composed of about 100,595 plots of land. However, only 36,431 plots of land will be unlocked and classified into four districts – Growth, Defense, Technology, and Currencies.

The reason the remaining 64,164 lands will be unavailable has been justified as,

“They (locked lands) represent key locations for travel within the Metaverse and stay private to be used as common grounds. These will represent roads (corridors): Avenues, Boulevards, and Hubs, while public ones will be available for purchase.”

Adding on to this, Shiba Inu also stated that the available public lands would be further divided into four tiers which will determine their monetary value. Tiers 1 to four is categorized as Diamond Teeth, Platinum Paw, Gold Tail, and Silver Fur. 

But this is where ETH will come into play. The plots classified under the categories mentioned above will be valued at 1 ETH, 0.5 ETH, 0.3 ETH, and 0.2 ETH in the order of the tier.

Furthermore, none of the plots can be bought in SHIB, and the reason Shiba Inu gave for this is rather vile,

“Using our Ecosystem Tokens is a risk, as we would need to dump our own tokens price cashing them!”

Thus instead of SHIB, ETH collected from the sale of plots will be sold into stablecoins to pay all the sources.

Shiba Inu Actually Needs It Badly

From the SHIB team’s point of view, this strategy makes sense and is needed right now since SHIB is already in a tough place despite the broader market rally.

In the last few days, the meme coin has only risen by 28.56%, which is unlike SHIB per its reputation when it comes to rallies.

Besides, according to the MACD indicator, even with a green candle, the network is facing some bearishness which might become concerning if it persists for too long.