The first stage (“Bid Event”) of the three-stage land sale procedure in the introduction phase of the metaverse project “SHIB Metaverse” has gone live, according to the Shiba Inu ($SHIB) team.
The land parcels will be sold in three stages during the initial phase:
Stage 1 (“Bid Event”): This is a three-day event (i.e. 72 hours). You’ll need to use a tool on the official website to lock your $LEASH tokens or Shiboshis NFTs. You will not be able to cancel a bid once it has been submitted unless you are outbid by someone else. “The highest bidder will be granted ownership of the land” at the end of this bid event, and “the acknowledged owner will be able to mint the plot/s as soon as the timer expires.”
Stage 2 (“Holder Event”): It will last seven days, and it will provide holders of $LEASH and Shiboshis NFTs another chance to lock them in for land purchases, but this time “without a bidding process” (i.e. on a “first-come, first-served basis”).
Stage 3 (“Public Sale”): This is when “everyone will be able to purchase the remaining available lands on the map, at the fixed price, and without having to lock any of their ecosystem assets,” and it will last for 10 days. Potential buyers will be able to “choose their asset limitations & amounts to lock” using a tool on the official website (the minimum is 0.2 $LEASH or 1 Shiboshi, and the maximum is 5 $LEASH or 10 Shiboshis). The minimum time to lock is 45 days, while the maximum time is 90 days.
$SHIB HODLers have been waiting for this statement from the Shiba Inu team:
On the metaverse website, the $LEASH and SHIBOSHI locking tools are currently operational. To utilize the $LEASH locker, connect your wallet and lock up a quantity between o.2 $LEASH and 5.0 $LEASH, as well as a lock-up time between 45 and 90 days.
Overview of SHIB Metaverse Land
SHIB.io will be the official website for the Shiba Inu team’s “current projects” metaverse and “future expansion.”During the metaverse’s introduction phase, 36,431 plots of land will become unlocked and available for purchase, making the metaverse “consist of 100,595 plots of land.”
Growth, Defense, Technology, and Currencies will be among the 36,431 parcels of land available. “Silver fur” (0.2 $ETH), “gold tail” (0.3 $ETH), “platinum paw” (0.5 $ETH), and “diamond teeth” (1 $ETH) will be the four pricing categories.As a reward for “those highly involved in the current and future MV development,” the Shiba Inu team has maintained 15 parcels of land.
Because the “collected monies” will be transformed into stablecoins and used to “pay for the metaverse development,” the digital currency used to pay for the $SHIB metaverse land will be $ETH. The team didn’t want people who wanted to acquire metaverse land to pay using Shiba Inu ecosystem tokens (i.e. $SHIB, $BONE, and $LEASH) because they were scared that selling them would cause their prices to drop.
Shibarium, a layer 2 blockchain, will be utilized to build the $SHIB metaverse and the $SHI stablecoin. Landowners in the $SHIB metaverse will be able to “earn passive income, harvest in-game materials, and generate prizes,” according to the company. When land purchasers rename their plots of land, $SHIB will be burned.
At the time of writing, with a 24-hour trading volume of $4,655,704,447 USD, the Shiba Inu price is $0.000026 USD today. Shiba Inu has gained 14.85% in the previous 24 hours.
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