Information was also given about the tokens of the Shiba ecosystem to be used in the purchasing activity of the project. Shiba Inu virtual reality parcels, called Bid Event, as part of the first early access, will be given to users who lock Shiboshi and LEASH within the framework of the program that started over the weekend of the project.
According to the details about the Shiba Inu virtual land sale, the bid collection process will take 72 hours and users who participate by locking Shiboshi and LEASH will be given the opportunity to bid for existing plots in the virtual reality project.
Shiba Inu developers plan to launch 36,431 of the 100,595 total plots in the Metaverse in the first phase. The names of the lands consisting of 4 different categories were determined as Diamond Teeth, Platinum Paw, Gold Tail and Silver Fur. The starting price of the Silver Fur plot is 0.2 ETH, the Gold Tail, Platinum Paw and Diamond Teeth prices are 0.3 ETH, 0.5 ETH and 1 ETH, respectively.
To be able to buy land in the Shiba Inu Metaverse, users must bid for the land, and their bid must remain the highest bid for the 72-hour period. If this happens after 72 hours, the land is automatically given to the relevant user.
After the 72-hour period after the Shiba Inu developers announced the start of the auction, any parcel of land available at an early stage can be transferred to a second sale event. This second sales phase will act as the secondary market where landowners can sell after the bidding phase.
Developers have integrated these service assets into the Shiba Inu Metaverse to support crypto assets in the ecosystem and increase their value. The largest token of the ecosystem, Shiba Inu, will be used to lease the highest value virtual lands called HUBS in the Metaverse environment.
SHIB can be used for buyer customization of purchased parcels, including renaming the land as well as adding images and logos. As the developers reported, privatization of purchased land using SHIB will begin after the general sale phase, which is announced as the third sale event.
In addition, the use of SHIB in the Metaverse is aimed to be used as a burning activity to reduce the total supply and to increase the value of the crypto asset.