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The developers behind the Shiba Inu (SHIB) meme have revealed details of their virtual reality project "SHIB: The Metaverse", announcing 100,595 plots of land, many of which will not be made public.
The plots will be given in several stages. The first phase will consist of 36,431 lots, divided into four categories: Silver Fur, Gold Tail, Platinum Paw and Diamond Teeth and valued at between 0.2 ETH and 1 ETH.
The group decided to use neutral cryptocurrencies as valuation tokens to ensure there was no downside risk with the original Shiba Inu currency.
"Using tokens in our ecosystem is a risk because we will have to sell our tokens for money right away! And this is a far cry from our plans," the developers announced on Wednesday.
Land buyers can generate passive sources of income, make money in the game and create rewards. The development team says it will announce this soon.
Landowners can rename their plots of land while using and burning SHIB tokens.
"We will be debuting the first special role of Shiba Inu SHIB in metaverse," a statement read. "By allowing a SHIB burner to be independent while renaming your lot, furthermore, this will soon begin after the land events and the semi-public round ends."
The developers said the remaining coins in the SHIB ecosystem such as LEASH and BONE will be used as more and more stages are announced. They added that LEASH holders will be able to buy land in later stages.
Metaverse will be developed on Shibarium, a Layer 2, a system that accompanies SHIB.
The price of the SHIB token was unchanged, nearing 0.00002274 on March 31. Developers had been expecting a breakthrough into the metaverse earlier this month.
