Popular memecoin ShibaInu developers claimed that the protocol would soon provide plots of virtual land in an unknown metaverse. This will cause prices for ecosystem tokens such as SHIB or LEASH to soar as high as 40%
Metaverses are a way to describe a virtual world where people can interact in the same way as in the real world but digitally. This concept is gaining popularity in recent years with metaverse tokens such as Decentraland’s MANA or Axie Infinity’s AXS being worth billions.
“The Metaverse is going to be one the largest areas in crypto…using it to offer crypto communities regular royalties, incentivization and content,” Shiba Inu developers stated in a post.
The “Shibalands” will be located in the Shiba Inu metaverse. They will be available for sale or auction with LEASH tokens.
Developers claimed they are currently working on a “queue system” for the Shiba Lands sale event. The amount of LEASH a participant has will determine how many places they get in the queue. This system would stop opportunistic bots taking up land at low prices and selling them to the community at a higher price.
data from analysis tool CoinGecko showed that prices for LEASH tokens rose nearly 46% over the past 24 hours. SHIB holds half of its supply, while LEASH only has 107,647 tokens.
SHIB dropped 8% over the past 24 hours, after rising almost 40% over Monday and Tuesday. At press time, the token was trading at $0.000033.
