The Shiba Inu Metaverse, the Shibarium, should have been here by now. What’s the hold up, folks?
A new metaverse ecosystem, launched by the creators of memecoin Shiba Inu, should be live any day now. Why are we waiting, slowly dehydrating?
Shiba Inu is a cryptocurrency that was created in 2020 by a mysterious person who calls themselves Ryoshi. The name ‘Shiba Inu’ was stolen from the fluffy dog that was the subject of many memes at the time.
The coin started as a joke — it was meant as a kind of parody of Dogecoin, which was rising fast in both price and popularity despite having little use in the real world. In fact, Shiba Inu called itself a “Dogecoin killer.”
Shiba Inu runs on the Ethereum blockchain, and while each token or coin is worth just a fraction of a cent, the price went wild in 2021 turning a few early investors into millionaires. While prices have gone back down from whence they came, it still remains one of the most popular cryptos.
One of the main criticisms of Shiba Inu is that it isn’t useful for anything and that people buy it just for speculation. So, the creators of the coin set about giving it a reason to exist – after the fact – and to make it useful somehow. Enter the Shibarium.
Shibarium – the Shiba Inu metaverse
The creators of Shiba Inu are currently working away on a metaverse called Shibarium. This is set to go live any day now, although there has been no news lately of when, which is making enthusiasts impatient.
When it comes to Shiba Inu, the canine theme is used across every aspect of the branding. For example, the white paper is called the ‘WoofPaper’. So enthusiasts think that this too will be the case for the Shibarium.
While future fans of the SHIB Metaverse are waiting impatiently for it to open the floodgates and let them in, there has been some speculation that it might not ever happen.
The Shibarium was supposed to be live sometime this quarter, but SHIB insiders have never given actual dates of its impending release.
Interestingly however, you can buy land inside the metaverse now, despite the metaverse not being live.
Shibarium Land Sale
100,595 plots of land are for sale within the new Shiba project. In phase one, 32,124 plots will be up for grabs. People who own this land can use it in various ways, like any other metaverse.
The land lots have four categories: Silver Fur, Gold Tail, Platinum Paw and Diamond Teeth. Prices range from 0.2 Ether to 1 ETH. Punters can win NFTs and other associated tokens like BONE, LEASH, TREAT, and SHI. These tokens can be used for different things, including voting rights.
Will the Shibarium drive up the price of SHIB?
After the launch of the Shibarium, it might be the case that SHIB will grow out of its reputation as a memecoin. If the launch of the Shibarium is successful, then this is predicted to pump the price of the original coin, Shiba Inu.
Many in the crypto space are watching to see if The Shibarium project will help Shiba Inu evolve into more than a memecoin.
The drawback here is that the Shibarium team is late to the game. Many metaverse projects have been building for years and some, like Meta, despite phenomenal levels of investment, have failed miserably.
There are positive signs here though. The SHIB community is strong and active. And if any memecoin was going to make it thanks to its community, it would be SHIB.
We will watch for the release of the Shibarium and keep you updated.