Shiba Inu announced the commencement of the public sale of land plots on its metaverse project SHIB: The Metaverse. The metaverse has entered into the last stage of bidding where users can buy the available plots beginning for 0.2 ETH. In this stage, the users are not required to lock their LEASH tokens for the purchase.
The announcement was made through SHIB: The Metaverse official Twitter handle the account on April 23. The new metaverse project is gaining a lot of traction from the existing Shib community as well as the NFT and metaverse community. In the first stage of land sale, Shiba Inu accounted for about 3000 new landowners. Out of 13,000 land plots that were made available for sale by locking the LEASH tokens, 12,975 plots were minted.
According to Etherscan data, a total of 6,280 ETH has been by the users to mint the land plots. The values and the reports are confirmed by the Shiba Inu developer Eric M through their official discord.
However, LEASH is the bidding token for buying the land in SHIB: The metaverse did not get much attention and is running with a down rate at $956.36. Ever since the announcement was made about the metaverse by Shiba Inu on 31st march, the token has shed over 49% of its value from $1910 to the current price.
The burning portal for SHIB
Surely, the year 2022 is about Shiba Inu. Shiba Inu is always in the news for its community, but despite all the fun, it is not hitting hard on the price chart. Even though the listing on Robinhood made the prices go up for a few days but everything comes to its own pace now again. The metaverse project SHIB: The metaverse is making huge progress with its land acquisition process and attracting many users.
Shiba Inu has introduced a new token burning portal burn.shibaswap.com for the Shib community and its holders. The burning address has been built in association with Ryoshi Vision Community. To reduce the overall circulating supply of SHIB, Shiba Inu has planned a strategic involvement of Ryoshi Vision token RYOSHI.
In addition, the burning portal provides a facility to the users where tokens can be sent to an unretrievable burn address. As a result, the complete circulation of tokens becomes scarcer and effectively increasing the existing token prices to a certain level.