The metaverse, the next iteration of social media witnessed an unprecedented demand hike. In the last few months of 2021, digital real estate prices went up 400% to 500%. A report estimated the digital world would grow into a $1 trillion business in the near future.
Choose my own “verse”
Memecoin, Shiba Inu and their leaders have unveiled Shiba Inu’s Shiberse. According to the SHIB community, 99,000 plots will be launched in the next cryptocurrency Metaverse. Of this total, 35,000 of these plots would be auctioned off to $LEASH holders.
The Shiberse would be distributed in stages. According to an AMA session on 23 February, the creators behind the initiative proposed a 10-day auction of digital property consisting of 35,000 parcels. The price of land on Shiberse would vary according to its location. Land closer to the center of the park – a dog park at the center of the cryptocurrency’s metaverse – would cost more. Those with the highest locked amounts are set to be able to bid on the largest lots of land.
Here’s an example: locking 0.2 LEASH allowed users to buy a 1×1 lot, while locking 5 LEASH bought a 10×10 lot. In fact, tokens must be locked to bid on the field, they cannot be used to purchase it. Additionally, land would sell for Ethereum’s native ETH coin, with prices ranging from 0.2 to one ETH depending on location.
Betting on this
The ‘so-called’ meme coin took different strides to stand tall against its rivals. Various communities of whales acquired or rather placed bets in favor of SHIB. For instance, Ethereum Whales. In the last 24 hours, whales ramped up their activity in the meme token. It was currently the most traded token among top Ethereum whales for the past day.
These whales collectively increased their average SHIB token balances by 2.63% over the same period, and the average value held by each wallet increased by 4.44%, according to data from WhaleStats.
Having said that, these bullish narratives couldn’t aid the native token. SHIB, at press time, suffered an 18% price correction, trading close to $0.00002.
