Shiba Inu is joining the metaverse and now SHIB fanatics cannot keep calm!

After witnessing a multi-fold growth in the cryptocurrency sector within a very short period of time, popular meme coin Shiba Inu has planned on joining the metaverse. The creators have planned that they will be releasing Shiba Inu plots for purchase in the metaverse. Initially, Shiba Inu named its metaverse domain 'Shibverse' but later on changed the name of the project to SHIB: The Metaverse. The developers announced the ambitious metaverse initiative in early February to compete with other metaverse coins like The Sandbox and Decentraland. SHIB's metaverse will feature more than 100,000 plots of land, some of which are supposed to remain private. 

There will be a bid event that will decide the ownership of the plots of land. Participants of the bid will have to lock their Doge Killer (LEASH) tokens to participate in the three-day event. They will also be able to participate in the seven-day stage of the sale event. Finally, the remaining land plots will be available for public sale once the two initial stages of the bidding are over. The metaverse is supposed to be developed in Shibarium, a layer-2 solution for SHIB. 

The team of Shiba Inu has stated that purchasing the land will be an opportunity to generate passive income and generate rewards. Some of the other privileges that landowners will be able to unlock will be revealed in the future. In the meantime, after this announcement, the number of followers on the crypto's official Twitter account has surpassed over three million followers. Not just its followers, SHIB's prices shot up right after this announcement. Well, we can only hope that this initiative will encourage more investors to join the market and invest in Shiba Inu.