Key Takeaways
- Meme cryptocurrency Shiba Inu (SHIB) has announced its first steps into the Metaverse
- The project announced LEASH holders will have first access to Shiba Inu Metaverse lands
- LEASH rallied 45% following the announcment, while Baby Doge declared plans to follow suit
YEREVAN (CoinChapter.com)- Meme crypto token Shiba Inu (SHIB) is making its debut into the Metaverse. The official Twitter handle of SHIB declared on Wednesday that they are launching the purchase of their first-ever Virtual Real Estate, the Shiba Land.
In addition, the project announced that they will be releasing the official name of their Metaverse soon. As of yet, cryptocurrency circles refer to the upcoming Shiba Inu Metaverse as Shiberse.
“We are happy to announce and proudly introduce Shiba Lands! These “lands” found inside our Metaverse will be available for purchase/auction really soon, and it will be our first step towards allowing the community to jump into the Metaverse prior to its full release!”
Shiba Inu announced through a blog post.Developers also announced they are working on a queue system. The queue system will make the process of acquiring land fair and smooth for the community. According to this policy, LEASH holders will be the first to gain access to SHIB Metaverse Lands. After the exclusive selling process for LEASH holders, the remaining lands will then unlock for the public.
LEASH, along with BONE and SHIB, is a token in the Shiba Inu ecosystem.
Recommended: Overbought risk emerges in the Shiba Inu market as SHIB rallies over 50%
LEASH rallies amid Shiba Inu Metaverse news
Doge Killer (LEASH) set out on a massive rally following the news of the SHIBMetaverse land launch. According to the data available on CoinMarketCap, LEASH rallied about 45% on Wednesday. Thanks to the rally, the Doge Killer reach a daily high of $1,934.87 before correcting to $1,680 as short-betters began withdrawing profits.
At the time of writing, LEASH trades for $1,764, about 80% below its all-time high of $8,983 from May 11, 2021.
According to the SHIB team, the Metaverse was worth approximately $478.7 billion in 2020 alone. Forbes estimates that number grew 700% in 2021. According to crypto giant Grayscale, the metaverse has the potential to become a $1 trillion annual revenue industry, as Business Insider reported.
“We have seen the Metaverse space grow at a rapid rate with enormous interest from small and large companies alike. The Metaverse is set to be one of the biggest areas within crypto for many to enjoy, while others will produce content and developers will set up shops within using it as another great resource to offer crypto communities incentivization, content, and regular royalties,”
the blog post by SHIB developers further states.Recommended: Shiba Inu hits a three-week high as SHIB rebounds by nearly 75%—what’s ahead?
Baby Doge to follow Shiba Inu into the Metaverse
Following Shiba Inu’s announcement of Metaverse lands, rival Dogecoin Killer Baby Doge is making a similar move. According to a Twitter post by Baby Doge, they may be looking to book a space in the Metaverse as well.
“Do you want to see #BabyDoge in the metaverse?,”
the project asked fans. At the time of writing, Baby Doge changes hands at $0.000000003975 per coin. The current price is about 37% below its all-time high of $0.000000006345 from January 16, 2022.
If Baby Doge enters the Metaverse fray, along the lines of Shiba Inu Metaverse land plans, the price of its meme token could rally to new highs.
