Dogecoin Creator Slams 'SHIB: The Metaverse,' Schools Shiba Inu Devs

Dogecoin co-creator Billy Markus slammed the launch of 'SHIB: The Metaverse,' the virtual space created by the team behind the rival dog-themed meme coin.

The launch of 'SHIB: The Metaverse' has caused much excitement, especially among Shiba Inu investors, but Markus frowned upon the announcement. He noted that "creating a random metaverse and selling fake lands with Ethereum" will not improve the cryptocurrency's utility.

"I mean whatever if people wanna give the devs even more money go ahead but if I was a shib holder I would be annoyed," Markus said in a follow-up tweet. A lot of major organizations are now entering the Metaverse and the community is curious if Markus is getting into the Metaverse based on his tweets.

Markus said the Metaverse initiative is more like a cash-and-grab scheme for developers who want to boost profits. The Dogecoin founder also noted that Shiba Inu's concept of allowing landowners to earn passive income may not sit well with securities regulators.

He also schooled Shiba Inu developers and suggested they create projects that benefit the community rather than themselves. "I want to stress again that it’s much less about the money and much much more about the incredible amount of assholes and scammers in this space, and how many of them are getting well rewarded for it," he said in another tweet.

It may be recalled that Shiba Inu lead developer Shytoshi Kusama previously fired a snide comment against the Dogecoin creator following the news of Andre Cronje's departure from the industry. On Twitter, Kusama assured investors that Shiba Inu will stay and will not mimic what other founders did.

"Sad to see Andre leave. But that's why #shib is built different. Unlike Billy, who also called it quits, I'm not leaving. I'm building. I see a future where most see the end. (Which I get.) I'm no billionaire (and never will be), I'm just a normal guy doing my best," the tweet read.

Shiba Inu was trading down 10.56% at $0.00002512 with a 24-hour volume of $1,501,584,265 while Dogecoin was trading down 6.81% at $0.1348 with a 24-hour volume of $1,199,170,204 as of 11:56 p.m. ET on Friday, based on the data from CoinMarketCap.