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Shiba Inu developers on Tuesday said their memecoin protocol will soon be offering plots of virtual lands in an upcoming, yet-unnamed metaverse. Following the news, prices of native tokens like SHIB and LEASH jumped as much as 40%.
In a blog post, Shiba Inu developers said:
“The Metaverse is set to be one of the biggest areas within crypto for many to enjoy…using it as another great resource to offer crypto communities incentivization, content, and regular royalties.”
They also noted:
“Like everything Shib does, we will lead this Metaverse sector. At this time, our early phase of development continues for the Shiba Inu Metaverse – Codename: Shiberse.“
Adding:
“We are currently researching various ideas while deciding on design terms with some incredible teams! These “teams” will be revealed later on, as you know we love surprising the ShibArmy! Woof!”
‘Shiba Lands’ can soon be found inside the upcoming Shiba Inu metaverse and can be purchases or auction using LEASH tokens.
The team is working on a ‘queue system’ to handle Shiba Lands sales event. Participants will get a place in the queue based on the amount of LEASH they hold. This would prevent bots from acquiring cheap lands early in order to sell them at a higher price later.
The so-called “Shiba Lands” would be found inside the upcoming Shiba Inu metaverse and will be available for purchase or auction using LEASH tokens.
The metaverse concept, which essentially is a virtual world, has gained traction in recent years, with metaverse tokens like Decentraland’s MANA and Axie Infinity’s AXS being worth billions of dollars.
Just this week, metaverse analytics firm Metametric Solutions predicted sales of real estate in the virtual world to Pass $1 Billion in 2022. Meanwhile large bank are convinced about its potential, with their valuations ranging from a $1 trillion opportunity to as much as $12 trillion, predicted by Goldman Sachs. Bank of America already pointed in December that the space is a massive opportunity.