Shiba Inu Ecosystem, including its primary tokens $SHIB, $LEASH, and $BONE, along with SHIBOSHIs NFTs, has recently announced two significant updates at the SXSW 2023 event held at the Austin Convention Center. The first update is the launch of SHIB: The Metaverse on Shibarium, an Ethereum Layer 2 (L2) blockchain, while the second is the partnership with the English fashion brand John Richmond.
At the same event, Shiba Inu also made headlines with the Alpha Preview Version of its WAGMI Temple Hub, the first of 11 HUBs in SHIB The Metaverse, being nominated for the best movie poster at SXSW23. With over 3 million followers on its official handle @Shibtoken, many crypto enthusiasts are eager to learn more about the Shiba Inu Metaverse project. This article aims to answer all the questions regarding SHIB: The Metaverse, including its definition, exploration, and land purchase process.
|Project||SHIB: The Metaverse|
|Public Sale Launch||April 23, 2022|
|visualization studio||The Third Floor (TTF)|
|Total Land Plot||100,595 plots|
|Land Plot Price||Starts at 0.2 ETH to 1 ETH|
|Shibarium Live on||March 11, 2023 (Early Public Beta)|
What exactly is SHIB: The Metaverse?
SHIB: The Metaverse is an expansive virtual space venture that encompasses the entire Shiba Inu ecosystem and provides a distinctive, entertaining, and thrilling experience for the ShibArmy cryptocurrency community.
In March 2022, the initiative was unveiled, promising users an extraordinary virtual experience where they can explore, gather in-game resources, generate passive income, earn rewards, and even have a personal space to create and manage their projects.
The objective of SHIB: The Metaverse is to enable regular users to establish digital enterprises, transition In Real Life (IRL) businesses to the Metaverse, or construct structures, residences, and even DeFi platforms within it.
In July 2022, Shiba Inu disclosed that it has enlisted the help of top-tier game development studio The Third Floor, Inc. (TTF) to create and construct its highly anticipated SHIB: The Metaverse Project. The Los Angeles-based visualization studio has contributed to groundbreaking projects in Film & TV, such as Avatar and Game of Thrones, as well as popular intellectual properties in video games, VR/AR, and location-based entertainment.
It is already announced that SHIB: The Metaverse will be developed on Shibarium, which is Shiba Inu’s long-awaited Ethereum Layer 2 (L2) blockchain. With the entire Shiba ecosystem being utilized for the project, all tokens, including $SHIB, $LEASH, and $BONE, will play an essential role as the project unfolds.
John Richmond, a well-known fashion brand specializing in rock-style clothing, has recently become the premier fashion partner for SHIB: The Metaverse. This partnership allows visitors to dress their avatars in both free and premium digital wearables created by John Richmond. Besides being able to purchase unique NFTs to wear in the metaverse, some purchasers will have the chance to receive a replica outfit that they can wear in real life (IRL).
Land & Map in SHIB: The Metaverse
There will be a total of 100,595 plots of land in The Metaverse that can be either minted or purchased. Becoming a landowner of a plot will offer an exciting opportunity to be part of the immersive environment inspired by Shiba. The virtual world is divided into four districts: Growth District, Defense District, Technology District, and Currencies District.
However, some plots of land will remain locked as they represent essential hubs, roads, avenues, and boulevards that are necessary for travel within the Metaverse and will be used as common grounds. On the other hand, public plots of land will be available for purchase.
SHIB’s Metaverse will have a total of 11 hubs, which will act as epicenters of activity within the virtual world, offering unique experiences that are rooted in each hub’s theme. The WAGMI Temple will provide a zen-like experience that echoes the SHIB community’s conviction and optimistic state for the motto “We’re All Gonna Make It.”
The Rocket Pond will be a hidden resort surrounded by mountains, expressing the crypto space’s belief of “to the moon.” The Tech Trench will be a futuristic, hyper-technological avenue that acts as an education and knowledge hub to shape the future of decentralized ecosystems and educational foundations.
What is the process for purchasing land in the SHIBA Metaverse?
In the SHIBA Metaverse, buying land requires cryptocurrency tokens instead of cash. There are 100,595 virtual plots available for purchase, and the sale of plots will take place in three stages to ensure fairness.
In the first stage of purchasing land in the SHIBA Metaverse, known as the “Bid event,” the team releases 36,431 land plots, with only 32,124 available for sale. Priority is given to LEASH token or Shiboshis NFT holders. The 32,124 plots are divided into four tiers based on their value, with tier 1 being the most valuable and priced at 1 ETH.
Users can lock their assets ($LEASH or Shiboshis) via the built-in tool on the official website and bid on the lands they want. Each plot is sold through a bidding process using Ethereum, with auctions open for 72 hours, and the highest bidder winning the right to own the plot.
- Private Locked — HUBS : 4,307 Land Plots
- Tier 1 — Diamond Teeth: 2,024 Land Plots — Price starts at 1 Ξ
- Tier 2 — Platinum Paw: 5,714 Land Plots — Price starts at 0.5 Ξ
- Tier 3 — Gold Tail: 7,356 Land Plots — Price starts at 0.3 Ξ
- Tier 4 — Silver Fur: 17,030 Land Plots — Price starts at 0.2 Ξ
During the second phase, called the Holders Event, users who own $LEASH or Shiboshi NFTs will have another chance to purchase land parcels. To participate, users must lock their $LEASH or Shiboshi NFT through the LEASH/SHIBOSHI Locker on the official website. Unlike the first stage, this phase does not involve any bidding and follows a first-come, first-served basis. Each virtual plot has a predetermined price and will be sold at that price. The second phase begins immediately after the first stage and lasts for seven days.
Following the first two stages that span over 10 days, the open-public sale commenced on April 23, 2022. During this final stage, individuals can purchase any remaining plots on the map at the ongoing fixed market rate without the need to lock their ecosystem assets ($LEASH and Shiboshi NFT).
What is the Maximum Minting Limits per Wallet?
To participate in the Bid/Purchase of SHIB: the metaverse lands, you must create, set up, and utilize a METAMASK Wallet.
Users can use the built-in tool on the official website to choose their asset limits and amounts for locking. The total asset limits and amounts to be locked include a minimum of 0.2 $LEASH or 1 Shiboshi and a maximum of 5 $LEASH or 10 Shiboshis. The minimum and maximum time to lock the assets are 45 days and 90 days, respectively. This custom selection process will determine the maximum number of lands that can be minted by a wallet.
The minimum limit of 0.2 $LEASH or 1 Shiboshi locked for 45 days corresponds to the minimum land bucket, while locking 5 $LEASH or 10 Shiboshis for 90 days will allow users to mint the maximum number of lands allowed. It is important to note that the maximum number of lands that can be minted per wallet is 200 (400 if users lock the maximum values for $LEASH and Shiboshis separately).