Quick take:
- ShibaSwap developers are working on metaverse lands.
- The name of the Shiba Inu metaverse is expected to drop this month.
- LEASH token jumped 46% after the introduction of Shiba Lands.
In a blog post published yesterday, developers behind memecoin Shiba Inu and its ecosystem, ShibaSwap, announced that they would be making Shiba Lands available for purchase soon.
These “lands” are located inside the Shiba Inu metaverse which is still in its early phase of development. With the growth of the virtual real estate industry, Shiba Inu has ambitions to “lead the metaverse sector” and will be revealing the name of its metaverse within this month.
“Some of the biggest Metaverse platforms that opt for introducing virtual real estate are Sandbox and Decentraland. We understand the potential, expandability, and performing evolution that this type of Metaverse option brings to the community,” the blog post states.
In addition, the team is also working on a queue system specifically designed for the Shiba Land sales event to prevent bots from snapping up land at low prices to sell at a higher price later as well as gas wars. The queue also gives holders of Shiba Inu ecosystem token, LEASH, priority and access to the first selling phase of the land plots in the Shiba Inu metaverse.
Participants can earn a place in the queue depending on the amount of LEASH tokens they hold. There will also be an anti-dump system in place to protect LEASH holders. After the exclusive selling phase, the remaining lands will unlock and become available for the public.
After Shiba announced its metaverse plans, the price of LEASH shot up 46% in the past 24 hours, breaking resistance at $1,350 and going to a high of $1,986 before settling at $1,815 today. LEASH only has a total supply of 107,647 tokens.
However, SHIB token fell 8% after seeing a 40% rise on Monday and Tuesday, and is currently trading at $0.000033.
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