The trading price of Dogecoin nemesis Shiba Inu tokens has skyrocketed as the developers behind the cryptocurrency announced its plans to enter the metaverse.
“In 2020 alone, the Metaverse was worth approximately $478.7 billion. That’s roughly the same size as the entire home services industry in the United States alone,” the Shiba Inu team remarked. “Like everything Shib does, we will lead this Metaverse sector. At this time, our early phase of development continues for the Shiba Inu Metaverse – Codename: Shiberse.”
As for what the “Shiberse” will entail, the team says that investors will soon be able to purchase virtual land, named Shiba Lands, using LEASH, or the Doge Killer coin, and more will be announced as its plans begin to roll out. Since the announcements, the Shiba Inu token’s value soared a whopping 48% over the past 24 hours.
“Overall, our focus is not only to disrupt the Metaverse industry but many industries in and outside the crypto world,” the team emphasized. “Our Metaverse serves as the anchor in our sustainable ecosystem, as we add even more utility, projects, and benefits for our beloved ShibArmy, the best crypto community out there
For those interested, you can learn more over on the developers’ official blog post.
New Blog: A METAVERSE Story that begins… with an update!
? Introducing Lands, a queue system, and more! ? $LEASH holders will be the first to gain access to Shiba Inu Metaverse Lands.
Read more… https://t.co/S758ClAbRC
— Shib (@Shibtoken) February 8, 2022
In other related news, Gucci has now entered the Sandbox metaverse.