Shiba Inu Announcement Of Metaverse Boosts SHIB Price

Shiba Inu launched SHIB: The Metaverse, which in some way helped boost the price of the dog-themed meme coin.

'SHIB: The Metaverse' is "an immersive experience that is positioned to become a massive environment for the Shib Army to grow, share, and benefit together." It is the dog-themed meme coin's very own iteration of the Metaverse.

The new virtual space features more than 100,595 plots of land and four different districts. For Shiba Inu, 'SHIB: The Metaverse' will be the culmination of the meme coin's history as a community.

Unfortunately, some lands will be locked since they will serve as key locations for travel within the virtual universe and will remain private so they could be used as common grounds. The public ones will be available for purchase while the closed ones will also serve as roads, hubs, boulevards, avenues and corridors.

"During our introductory phase for SHIB: The Metaverse, 36,431 plots of land will become unlocked while welcoming and revealing a part of 4 different Districts: Growth District, Defense District, Technology District, and the Currencies District."

The value of the lands is based on their locations. Each location offers a wide range of opportunities for owners to build strategic areas.

Landowners will also be able to earn passive income, collect in-game resources and get rewards, which according to Shiba Inu, will be revealed soon. Aside from that, landowners can rename their plots while enjoying the burning feature that allows them to reduce the number of SHIB tokens.

For the tiers, 'SHIB: The Metaverse' features Tier 1 Diamond Teeth: 2,024 Lands, Tier 2 Platinum Paw: 5,714 Lands, Tier 3 Gold Tail: 7,356 Lands, Tier 4 Silver Fur: 17,030 Lands. The team also "saved 15 total lands as a courtesy for those highly involved in the current and future MV development."

Following the 'SHIB: The Metaverse' announcement, SHIB's price rallied at an upward 4%. Shiba Inu was trading up 1.55% at $0.00002775 with a 24-hour volume of $1,488,050,643 at 4:25 a.m. on Thursday, showed data from CoinMarketCap.