Shiba Inu Announces the Launch of Its Metaverse

Man on hammock looking at his smartphone while petting his shiba inu.

Image source: Getty Images

Over the last few days, media outlets have posted stories speculating about a cryptic tweet on the official Twitter account of popular dog-themed meme cryptocurrency Shiba Inu (SHIB). The message simply stated:

"See, the world is full of things more powerful than us. But if you know how to catch a ride, you can go places. Stay tuned for March 30th."

Media and social media speculation about that tweet ranged from new payment partnerships to the final launch of iSHIB's own blockchain dubbed Shibarium. Regardless, the expectation among members of ShibArmy -- the self-described holders of SHIB token -- was that the announcement would be something big.

And Shiba Inu's development team delivered on that.

Shiba goes meta with its new website

Wednesday afternoon, a tweet posted to Shiba Inu's Twitter channel made the following statement.

"We are happy to welcome you to SHIB : The Metaverse. An immersive experience that is positioned to become a massive environment for the #ShibArmy to grow, share, and benefit together."

The tweet also linked to the project's official blog site where an in-depth writeup was posted going into much greater detail and explanation behind the driving force of this metaverse launch:

"Our development of this project will also gravitate great partnershibs [sic], and foundational resources for the community to explore, benefit, and interact with. The mission to deliver an exceptional product which incorporates these factors is crucial as we have gathered feedback from multiple groups, community orientation in Discord, and even those partnershibs [sic] who will end up partaking in the project."

Key highlights of this announcement include:

  • The web address will be the hub for this immersive online environment and the project's main website going forward.
  • The availability of 100,595 plots of virtual land will be up for sale in staged rollouts.
  • Those virtual land plots can only be purchased using "neutral" Ethereum coins, not any Shib-related tokens at this time.
  • The project's three current native tokens -- SHIB, LEASH, and BONE -- will all have future utility within the virtual reality as it evolves.
  • Holders of LEASH token or a Shiba Inu NFT will get first dibs to buy virtual land.
  • This virtual world will have its own stablecoin -- named SHI.
  • The Shib Metaverse will have a gaming component as the project is in the final stages of signing a deal with a "AAA Game Developer Studio."
  • Having Shiba virtual land will entitle owners to earn passive income, enable gathering of in-game resources, and other non-specific rewards.

While there is no specific date for all of this to begin, the announcement states that the new portal "will be up and running in the next coming days, and in order for users to begin the process of locking their assets."

A few hours before its metaverse announcement, the Shiba Inu Twitter account posted that it surpassed 3 million followers. When it launched the teaser campaign on Monday it had 2.9 million.

As of this writing, SHIB is priced at $0.00002745, up 2.91% on the news according to CoinMarketCap. But it's down 69% since it hit a record high of $0.00008845 in October 2021. It'll be interesting to see if this development can reverse the fortunes of this stalled project.

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Tor Constantino owns Ethereum.

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