'SHIB: The Metaverse' Adds More Utility To Shiba Inu Coin, Launch Could Help Boost Price

The Shiba Inu development team officially launched the much-anticipated "Shib: The Metaverse," adding more utility to SHIB.

The first stage in purchasing land on "Shib: The Metaverse" is now live and it involves a three-day initial bid event where investors can compete for lands using Ethereum. The official Twitter account of Shiba Inu also announced more utility for the dog-themed meme coin in its iteration of the metaverse.

"We have heard the community feedback and are happy to welcome even more utility for $SHIB in the Metaverse," the tweet reads.

Based on the tweet, the Shiba Inu token can be used to add pictures and logos to the land plots inside the metaverse. It will allow users to change their pictures in the metaverse as many times as possible.

Shiba Inu can also be used to name or rename lands and plots inside "Shib: The Metaverse." Aside from those, users can also use Shiba Inu to lease HUBS, or highest valued lands, blocked or reserved spaces in the metaverse.

Through the meme coin, users can gain access to an inquiry form, which is required to participate in the purchase or lease of plots or lands.

"#SHIB will be always at the center of the ecosystem. #BONE and #LEASH have its own utility, but we never forget about #SHIB. Just remember, the ecosystem has many pieces, and we look after *all* of them," ShibInformer said in a tweet, highlighting that SHIB will always be the center of the Shiba Inu ecosystem.

After the land sale, the Shiba Inu team will begin the development of "Shib: The Metaverse" platform. Analysts believe that if the metaverse initiative of the Shiba Inu team becomes successful, it could act as a catalyst in boosting the price of SHIB.

It could set the dog-themed meme coin apart from Dogecoin, which, at this point, is not offering anything of this kind. With more Shiba Inu's utility added through its metaverse, the SHIB's value could spike.

Robinhood, the crypto platform which pioneered commission-free transactions, listed Shiba Inu, along with three other cryptocurrencies in its platform, allowing users to purchase and trade SHIB. Shiba Inu was trading up 19.64% at $0.00002738 with a 24-hour volume trading up 495.66% at $4,619,606,589 as of 4:21 a.m. ET on April 13 based on the data from CoinMarketCap.