- Some portions of SHIB: The Metaverse will launch by the end of 2023.
- SHIB will likely get new use cases with the upcoming metaverse.
Any talk of cryptocurrencies would be incomplete without a mention of memecoins. Their valuation, wild price swings, and their connections to tech czars have become subjects of significant coverage, both within and outside crypto-circles.
Read Shiba Inu’s [SHIB] Price Prediction 2023-24
However, the lack of real-world utility has often led critics to dismiss them as a fad built just on social media hype.
Shiba Inu [SHIB], the second-largest memecoin ecosystem with a market cap of more than $4.5 billion, has started to challenge this narrative. The launch of decentralized exchange (DEX) ShibaSwap and layer-2 (L2) scaling solution – Shibarium – which is currently in its beta phase, were steps in this direction.
But the most eagerly awaited project is undoubtedly “Shib: The Metaverse.” If things go smoothly, enthusiasts can witness it by the end of 2o23.
The digital world
For the uninitiated, the metaverse is a collective virtual shared space. Different technologies power it, including virtual reality (VR), augmented reality (AR), artificial intelligence (AI), and blockchain. Think of it as a fusion between real and digital worlds, allowing people to interact with each other through their digital avatars.
Metaverse came to mainstream consciousness after social media giant Facebook rebranded to Meta in 2021, reflecting not just a name change but also its commitment to building the “digital world.” Since then, other tech giants like Google and Microsoft have also thrown their hats in the ring.
From memes to metaverse
The Shiba Inu ecosystem’s own metaverse has generated immense buzz ever since the creators shared a teaser of the project in January 2022.
As promised, we are so excited to announce our first special surprise for the year #ShibArmy!
In 2022, we are reaching new heights and welcoming the #Shiberse ?. An immersive experience for our ecosystem and the Metaverse space!
We can’t wait to show you more. Woof! ? pic.twitter.com/tCRQ1m1RiT
— Shib (@Shibtoken) January 24, 2022
The metaverse would be developed on the L2 network Shibarium, which was gearing up for a mainnet launch at the time of writing.
According to creators, the metaverse would feature 100,595 plots of virtual land. Landowners would be able to earn passive income and gather in-game resources. Apart from this, they would get access to a personal space where they can build and manage their own projects.
Shiba Inu developers stated that during the first phase of the event, 36,431 plots of land would get unlocked, while some locations would remain open to all.
SHIB’s utility on metaverse
Shiba Inu ecosystem tokens like SHIB and Bone ShibaSwap [BONE] would be used extensively in the metaverse, as per the developers.
SHIB token could be used to buy plots in the metaverse. Another popular use case for SHIB would be adding pictures and logos to land plots. When the pictures are changed, SHIB tokens would be burnt, adding to the deflationary pressure.
Metaverse users will also have the option of naming or renaming their plots using their SHIB holdings. Additionally, people could lease HUBS – the most valuable plots of land in the metaverse – with SHIB.
BONE, by virtue of being the gas token for the upcoming Shibarium network, would be playing a critical role in the metaverse.
The countdown begins
Shiba Inu developers revealed in an April blog post that some portions of the metaverse would be open to the public by the end of 2023, boosting the spirits of the metaverse enthusiasts. Since then, many exciting updates have kept the pot boiling.
Lucie, a key member of the Shiba Inu marketing team, took to Twitter to announce the project’s multi-platform strategy. This means that the metaverse will be available on mobile devices, PCs, and virtual reality (VR) devices.
Shib the Metaverse- @mvshib
We had the lovely @marciejastrow lead from SHib the Metaverse in spaces yesterday who answered a few questions.
Which hubs will be revealed?
By September, 4 hubs are expected to be revealed
– Wagmi,
– Rocket Pond
– Ryoshi
– Tech TrenchHow will… pic.twitter.com/aJycIpyORb
— ????? (@LucieSHIB) May 16, 2023
She also mentioned that 4 HUBS namely, Wagmi, Rocket Pond, Ryoshi and Tech Trench will unveil on September 2023.
Out of these, the trailer of Rocket Pond released last month. It depicted a cinematic transformation of a dystopian landscape to a bright world bustling with life.
Attention all Shib-fans! Get your engines revved up for an exhilarating ride! We’re thrilled to unveil the mind-blowing teaser video of Rocket Pond! ? Brace yourself for a journey through the Metaverse like no other. Join us and get ready to be amazed! @mvshib #ShibTheMetaverse pic.twitter.com/FsuxlmMNAO
— Shib (@Shibtoken) June 7, 2023
Shiba Inu has been serious about shedding its “memecoin” tag. Inasmuch, it has undertaken disruptive projects like the Shibarium and metaverse to stand out in an ever-chainging landscape of Web3.
How much are 1,10,100 SHIBs worth today?
However, only time will tell if these endeavors would result in greater participation within and outside the Shiba Inu’s ecosystem.
At the time of writing, SHIB exchanged hands at $0.0000078, down by 0.41% in the last 24 hours, per data from CoinMarketCap.
