On Thursday, the official Twitter account of cryptocurrency The Shiba Inu Project has announced that the first phase of land purchases in its metaverse virtual world begins this weekend. Current Posting on Twitter bed:
“The Early Access Land Bid event is starting soon! We’re excited to announce the drop is almost here. Have you locked your $LEASH or #SHIBOSHI yet? “Landing” this weekend, keep an eye out at http: //shib.io”
In the last week announcement from SHIB: The Metaverse, 100,595 virtual plots of land will eventually be sold for sale using Ethereum coins to buy. LEASH or Shiba Inu NFT holders get first dibs on land purchases. SHIB landowners could earn passive income and other rewards.
Initial pricing and staged rollout of virtual land purchases
According to the official statement from Shiba Inu’s development team, the land plots will be rolled out in stages. For the initial launching stage, the team will unlock more than 36,000 virtual land plots divided into the following four tiers and minimum bid price points. The prices are based on the value of ETH coins at the time of writing, according to CoinMarketCap.com:
- Tier 4 – Silver Fur: 17,030 Land Plots – each will cost 0.2 ETH ($645.03)
- Tier 3 – Gold Tail: 7,356 Lands Plots – each will cost 0.3 ETH ($967.54)
- Tier 2 – Platinum Paw: 5,714 Lands Plots – each will cost 0.5 ETH ($1,612.56)
- Tier 1 – Diamond Teeth: 2,024 Lands Plots – each will cost 1 ETH ($3,225.13)
The statement explains that stage one — the Bid Event — for land will last 72 hours from the start and will only be available to prospective buyers that hold the SHIB-alt coin LEASH or a Shiba Inu NFT — called a Shiboshi — to gain access to the land auction event, but the actual purchases can only be made using the designated ETH coin. At the end of the Bid Event, the bidder offering the highest price wins the plot. Those final bids will establish the fixed prices for the land plots sold in the remaining stages.
The first stage will be followed by the Holder Event, which will last for seven days immediately after the first round and will follow all the same requirements and rules for any of the remaining 100,595 land plots. Again, this stage will not use an auction format, in favor of a “fixed price” model based on the plot prices established from stage one.
OUR TOP CRYPTO PLAY ISN’T A TOKEN – HERE’S WHY
We’ve found one company that’s positioned itself perfectly as a long-term picks-and-shovels solution for the broader crypto market — Bitcoin, Dogecoin, and all the others. In fact, you’ve probably used this company’s technology in the past few days, even if you’ve never had an account or even heard of the company before. That’s how prevalent it’s become.
Sign up today for Stock Advisor and get access to our exclusive report where you can get the full scoop on this company and its upside as a long-term investment. Learn more and get started today with a special new member discount.
The final stage will be a 10-day Public Sale available to anyone — no LEASH or NFT tokens are required to access. It will immediately start at the end of the second stage, and any available land plots will be up for grabs at the established fixed prices.
Why bother buying virtual land in SHIB : The Metaverse
According to the project’s official statement, acquiring property in SHIB’s virtual world ensures owners have a say and sway in the near- and long-term project expansion. Beyond some type of project voting or governance, landowners will be able to generate passive income, gather in-game resources, and generate rewards.
Earn a $100 bitcoin bonus
Our updated list of the best cryptocurrency apps for 2022 is packed with best-in-class picks. The cryptocurrency apps that landed on our shortlist include perks such as $0 commissions, and one pick that is offering a $100 bitcoin bonus. Check out the list here and get started on your crypto journey, today.
Tor Constantino owns Bitcoin, Ethereum, XRP, Ankr, Hedara, and Energi. The Motley Fools owns shares of and recommends Bitcoin.
We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool owns and recommends Bitcoin and Ethereum. The Motley Fool has a disclosure policy.