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After having registered a multi-fold growth in the cryptocurrency sector, meme-coin Shiba Inu has decided to foray into the metaverse. The developers of Shiba Inu have announced that they will soon be releasing Shiba Land plots for purchase in the metaverse. Intended to act as a fully functional shared virtual universe, the metaverse will allow people to interact with its digital elements as 3D avatars. The sector, supported on the blockchain, has been stirring quite an intrigue among several small and large tech companies.

The codename for Shiba Inu Metaverse is “Shiberse” for the time being, but the community leaders have promised to reveal its official name later in February.

The meme coin handlers aim to introduce its Shiba Land as a virtual real estate project.

“We understand the potential, expandability, and performing evolution that this type of metaverse option brings to the community,” the announcement by Shiba Inu said.

Holders of the Doge Killer (LEASH) cryptocurrency, that was also birthed by SHIB creators, will get first entry into the Shiberse. As per CoinMarketCap, LEASH token is trading at $1,769 (roughly Rs. 1.30 lakh) at the time of writing.

“The remaining lands will then unlock and become available for the public after this exclusive selling process finalises,” the announcement further read.

The Shiba Inu team is in talks with undisclosed entities for securing partnerships in this metaverse project.

The cryptocurrency was made by an anonymous creator “Ryoshi” in August 2020, and was marketed as a Dogecoin killer. Modelled after the Dogecoin itself, the mascot of Shiba Inu is a cartoon-like representation of a Japanese Shiba Inu dog.

Each SHIB token is currently trading at $0.00003342 (roughly Rs. 0.0025) on CoinMarketCap.

Research reports expect the market opportunity for the metaverse to reach $800 billion (roughly Rs. 59,58,719 crore) by 2024.

Cryptocurrencies make for an integral part of the metaverse as they allow us to calculate the value of digital assets in fiat currency and their returns over time.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article. 

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