Shiba Inu Lands will compete with such projects as The Sandbox, Decentraland and CryptoVoxels
Shiba Inu developers have stepped up their metaverse game by announcing a new project called Shiba Lands.
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It will allow purchasing digital real estate that will become available for sale “really soon.”
The holders of Doge Killer (LEASH), the native token of the ShibaSwap decentralized exchange, will be granted to the first selling phase in accordance with a queue system created by the developers. The rest of the land will unlock shortly after the initial sale.
As reported by U.Today, developers recently announced the cryptocurrency’s entry into the metaverse space. It will allow users to immerse themselves into a virtual world, which will combine various elements of the Shiba Inu ecosystem.
The coin’s metaverse has been tentatively called “Shibverse.” Its actual name is expected to be revealed this month by the team.
The Shiba Inu team has also teased new partnerships in a recent blog post:
Finally, we have already been negotiating and meeting with some TOP partnershibs about this project. All for this exciting new environment to be welcomed with great energy and the way it’s intended to.
The Cambrian Explosion of the metaverse
Metaverse-related tokens went on a massive rally in early November after tech giant Facebook rebranded to Meta.
MANA, the native token of Ethereum-based virtual reality platform Decentraland, went through the roof together with other metaverse-related projects.
Meta’s big bet on virtual reality significantly increased the demand for metaverse land plots. A patch of virtual land on Decentraland sold for an eye-popping $2.4 million in late November.
Rapper Snoop Dogg announced a partnership with The Sandbox, another prominent metaverse platform, and someone shelled out $450,000 in order to be the star’s neighbor in the virtual world.
Following Facebook’s lead, other major companies, such as Adidas, Walmart and YouTube, are also exploring the metaverse, which is shaping up to be the hottest new trend in tech.
Roblox CEO David Baszucki predicts that the metaverse market could reach $200 billion.