Shiba Inu Metaverse: Land Purchase Guide
Shiba Inu develops procedures for virtual property purchases in the Shiba Inu Metaverse. LEASH and SHIB holders will be given priority access before public sales begin.
Earlier this year, the developers of Shiba Inu Coin announced their decision to enter the Web3 world of the Metaverse. Entry has since taken place, codenamed Shiberse, but little is known about the project so far. According to the Shiba Inu, it aims to provide an immersive experience for the ecosystem and the Metaverse space.
As announced last month, users will be able to buy virtual lots on Shiberse. The concept is derived from Axie Infinity Land. LEASH owners are said to have priority when purchasing Shiberse land.
Here’s what is known about the Shiberse land sale so far:
- A total of 99,000 lots will be available, of which 35,000 will be released in phase one
- The price per plot will range from 0.2 to 1.0 ETH
- The first sales phase will be based on an auction-like system
- LEASH and Shiboshi users will get priority access to the future phases open to the public.
In Shiberse, buyers can select their property on an interactive map. According to an insider, it should be as easy as booking a cinema seat in a user-friendly manner.
This is how the first land purchase works
One of the quickest ways to buy land in the Shiba Inu Metaverse is with LEASH coins, as holders of these coins are given priority access, with waitlist position based on the number of LEASHes blocked and the corresponding time period.
Shiba developer Eric M. further explained that prospective land buyers can lock between 0.2 and 5 LEASH for a period of 45-90 days. The greater the value of the LEASH and the time period, the greater the value of land a LEASH holder can acquire.
A similar locking mechanism also applies to Shiboshi holders, who also get priority access. Also, 2000 Shiboshi owners will be selected to mint land in the exclusive Shiboshi Zone. However, the developer also stated that the owners will bid for the land with ETH and not SHIB.
Three land sale phases in Shiberse
The Shiba Inu Metaverse will have three separate sections of land sale as described by Eric M.
In the bidding phase, the ETH bids from LEASH holders are sent to a smart contract until the end of the auction. At the end of the auction period, the successful bidder can purchase their Shiba property.
The main purpose of this regulation is to avoid a gas war. After the bidding phase comes the restricted phase where LEASH and Shiba owners can buy the rest of the properties without bidding.
Later, the minting process will begin, which will be accessible to a wider audience. In his recent Discord messages , Eric M stated:
“There will be a few days when only LEASH holders can buy normally. After that, a public sale will be set up and anyone can purchase the remaining lands in the normal way.”