February 25, 2024

The recent updates released by the Shiba Inu official Twitter handle have shown the launch of the new Metaverse land bid, which aims to take the SHIB to the virtual ecosystem.

Additionally, details of the new utility for SHIB have revealed that the token can be used in “The Metaverse” to add pictures and other collectibles to the virtual land plots. 

The new features also enable the burning of SHIB any time pictures are changed.

Further details reveal that the SHIB can also be used to name and rename land plots belonging to users and, at the same time, burn a certain amount of SHIB every time the activity is carried out. This, in turn, promotes the identity of Shiba Inu in the ecosystem.

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Moreover, users can use the SHIB to lease HUBS to interested parties. HUBS in the SHIB Metaverse are the most valued plots in the entire ecosystem.

The development team at Shiba Inu disclosed that the SHIB burns and renaming would also be made available to users during the public sale stage following the conclusion of the holder and bid event.

Shiba Inu’s Drive for Relevance

In the course of the introductory stage for SHIB: The Metaverse, 36,431 plots of virtual land would be unlocked to the public in four different portions or districts. The districts are the Defense District, Growth District, Currency District, and Technology District. To sum it all up, the new Metaverse space will contain 100,595 plots of virtual lands.

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Shiba Inu’s value rose by more than 20% after listing the second meme cryptocurrency on the Robinhood exchange platform; the token is currently trading at $0.0000274.

As per the report from WhaleStats, the 12th largest Ethereum whale has bought 775 billion SHIB tokens, the most significant purchase in the past few days.

The enormous whale on the Ethereum network has previously held the record of the largest holder of the SHIB tokens, worth $6 million. Meanwhile, other investors had already purchased the tokens before the listing on the Robinhood network was announced.

SHIB Payment Gaining Traction

As reported by U.Today, a New York-based subscription management firm, Ubersmith, has started accepting payment in Shiba Inu via the BitPay platform.

BitPay is the leading crypto payment service provider and has increased its adoption by companies looking to accept payment in digital tokens.

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Last year was the first time that BitPay began supporting payment in Shiba Inu, where transactions involving SHIB are carried out on the platform of hundreds of BitPay clients. Some of BitPays’ partners include SlingTV, Menufy, the American Cancer Society, Newegg, and other major companies in the United States.

Like its direct competitor, Dogecoin, Shiba Inu has enjoyed relative acceptance by mainstream businesses. Both have been trying to outperform one another in the market. It is poised to become one of the leading utilities in the digital finance industry. For now, more needs to be done to elevate it above its rival.

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