Shiba Inu investors needed something to get them going again. One would think that some great news about Shiba Inu's next metaverse could do it. But it was not so.
Last week, the Shiba Inu development team made a major announcement about plans for the Shiba Inu metaverse, and the meme coin barely moved.
However, the ETH token (quotation in real time) native of Ethereum soared in the following days. Coincidence?
Maybe, but maybe not. In fact, Ethereum is poised to be a big winner with the Shiba Inu metaverse. Here because.
A surprise in the SHIB metaverse
A blog post on the Shiba Inu ecosystem on March 30 introduced "SHIB: The Metaverse". Several details of the upcoming metaverse have been revealed, most notably some of the digital real estate that will be available for purchase.
The Shiba Inu metaverse will contain 100.595 plots of land. In the first days of development, 36.431 plots will be unlocked in four districts: Growth, Defense, Technology and Currencies. There will also be four levels of terrain, each with a different price.
Now the surprise: Participants will not buy land in the Shiba Inu metaverse with SHIB tokens. They won't even use the new Shiba Inu LEASH or BONE ecosystem tokens to buy land.
Instead, all parcels of land must be purchased with Ether tokens. The lowest tier, called “Silver Fur”, will cost 0,2 ETH. The third level "Gold Tail" will cost 0,3 ETH. The second level "Platinum Paw" will cost 0,5 ETH. And the top tier "Diamond Teeth" will cost 1 ETH.
The Shiba Inu development team predicted that the decision to go with Ether would cause some consternation. They provided a reason for the move, stating, "Since we will use the funds raised to pay for the development of the Metaverse, the team has decided to use a neutral currency that can be sold in stablecoin to pay for all sources."
This wasn't the only explanation, though. The team added: “Using our Ecosystem Tokens is a risk, as we would need to download our tokens [sic] price by cashing them in! And this is very far from our plans ”.
This still left some wondering why in the world the Shiba Inu metaverse will not use Shiba Inu tokens as their primary currency. But if SHIB, LEASH, or BONE are not used, Ether is the logical alternative.
Shiba Inu is built on top of the Ethereum blockchain (like many other cryptocurrencies). Using Ether means that Shiba Inu's metaverse will not have to introduce a completely foreign token into its ecosystem.
If the Shiba Inu metaverse really takes off, Ethereum could be a big winner. Anyone looking to buy land in the metaverse will first need to purchase Ether tokens. A significant level of buying would create upward pressure that could push the Ether price higher.