Shiba Inu Gives Metaverse Update, Includes New Burn Mechanics

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The Shiba Inu team has given an official introduction to its metaverse project, known as SHIB: The Metaverse, taking holders through the Shiba Lands buying process alongside some new information, too.

This comes via a ShibaSwap blog post, first teased on March 28 by the official SHIB Twitter account. The Shiba metaverse, comprised of virtual real estate in the Shiba Inu Lands, was previously codenamed the Shiberse. As with other projects in the Shiba Inu ecosystem, it will contribute towards the SHIB burns.

Here’s what was covered in the blog post.

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Shiba Metaverse Update

The main aim of the blog post was to provide a more solid introduction to the SHIB metaverse. In the post, it said:

Shib: The Metaverse is the culmination of our history as a community, virtually displayed, in a layer of beautiful visuals that showcase our innovation and unity with a place to truly call home.

Further information was given about the SHIB metaverse map and the virtual real estate, comprised of 100,595 plots of land. The map is also split into 4 separate districts: Growth District, Breed District, Technology District, and Currency District.

SHIB: The Metaverse and upcoming Shiba projects on the roadmap will all take place on SHIB.io - the new Shiba domain. Visiting the website currently displays an animated image of the original Shiberse concept art.

The blog post also expanded on the passive income SHIB metaverse holders can expect. “Purchasing land on this platform is not just an isolated investment, but a way to be a part of the short, mid and long term of the project,” it said. “We will be introducing a unique, and exciting way to earn, while also awarding users to have a personal space in which they will be able to build and manage their own projects.”

No release date information was given about SHIB: The Metaverse. However, the blog post revealed that Shiba has welcomed a AAA game studio on board to help create the project.

This studio, which will be named “in the coming week” will take charge of the artistic direction of the metaverse. While we don't know the studio, we’d expect it to be similar to PlaySide Studio - the Shiba Inu Games developer.

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Shiba Inu Metaverse Burn

Taking inspiration from the Shiboshi NFTs, landholders in the Shiba metaverse can burn SHIB by renaming their plots of land. This will, according to Shiba, help its metaverse to “focus on the core of our community values.”

“Utility meets SHIB identity, and can reward landowners with a good way to label their plots,” said the blog post. This renaming process will open after the close of the public land sale.

As Shiba Discord moderator Queenie calculated, this could result in 80 billion SHIB destroyed.

This follows on from the Shiba Inu AMA, which confirmed all Shiba projects aside from the games will burn SHIB.