The developers of Shiba Inu Metaverse have finally launched early access to buy land on the highly anticipated “SHIB: The Metaverse.”
This early access to Shiba Metaverse land will allow Shiboshi and $LEASH holders who took part in the project’s locker event to buy land in the virtual reality universe by SHIB.
What You Need To Know About The Auction
According to the details of the land sales event, this early auction bid will last for the next 72 hours. This will grant the Shiboshi and LEASH holders to bid for the available plots of land in the SHIB metaverse.
It is also revealed that 36,431 plots out of the entire 100,595 available plots of land in the SHIB Metaverse will be auctioned early.
Furthermore, these plots will be split into four categories; Diamond Teeth, Platinum Pae, Gold Tail and Silver Fur. And the Diamond Teeth are set at 1 ETH, the Platinum Paw at 0.5 ETH, the Gold Tail at 0.3 ETH and the Silver Fur at 0.2 ETH.
How To Buy Shiba Inu Land
Like the regular auction procedure where the highest bidder wins, a user places a bid for a plot, and if the bid is not beaten after 72 hours, the plot of land is automatically given to the user.
According to the team, any plot left on sold after the 72 hours will be rolled over to the stage two sales.
SHIB’s Utility in the Metaverse Project
The SHIB Metaverse doesn’t directly favour SHIB token holders. However, the developers have added a few utilities for the popular meme coin in the project.
One of the major utilities of SHIB in the Shiba Inu Metaverse is to lease HUBS, the most valued land in the Shiba Metaverse.
In addition, the Shiba Inu native token will be used to customise land purchases to fit the buyer’s identity, including customisation of name, adding pictures and logos. And this feature is expected to commence from the third stage of land sales.
Also, note that the incorporation of SHIB in the Metaverse project is an initiative to burn the token’s supply further.
Recall that SHIB value leapt above 30% as the popular cryptocurrency trading app Robinhood announced its listing on the platform.