Shiba Inu Metaverse Sale Has Raised Nearly $20 Million So Far


So far, the Shiba Inu Metaverse Sale has brought in about $20 million.

Less than a week into the SHIB land sale event, the ShibArmy has acquired land in the Shiba Inu metaverse for about $20 million in Ethereum.

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Holders have spent 6280 ETH on land in Phase One and Phase Two of the land auction, according to the two contracts. However, this is only true for a limited percentage of SHIB holders. It will remain limited to LEASH and Shiboshi holders until the general auction begins this weekend.

After nearly a week, here's a more in-depth look at the situation of the metaverse land sale.

SHIB Metaverse Sales

According to Etherscan, the greatest single transaction in the SHIB metaverse sale was 36.3 ETH ($110,712) spent by one person. This bid, however, was not for a single piece of property. Instead, it used the multi-bid structure that was added during Phase One.

The user acquired 121 distinct parcels of land for an average of 0.3 ETH in this transaction.

Other users, on the other hand, have acquired additional landholdings. In the Shiba metaverse, two people possess 200 pieces of land, which is the most that one person may own. However, another user appears to have outdone this, with 209 NFTs in the 'SHIB YARD' land collection. To accomplish these purchases, they used 40.8 ETH spread out over 8 transactions.

There are now 3337 landowners in the Shiba metaverse, with a total of 12,975 plots.

While some single transactions paid more than 4 ETH for a single plot of land, future sales will be at predetermined pricing. These will differ based on where you are on the metaverse map.

With 100,000 plots of land planned for SHIB: The Metaverse, the remaining land will only become available once the initial 36,000 plots are sold out.

The sum raised was noticed by Shiba developer Eric M, who also added the importance of the market's present position as a crucial context. "How many times have you raised about $20 million in five days?" he said on the Shiba Discord. "How can you make money in a market that's crashed?"

The proceeds from this metaverse sale will be used to support future development, with the Shiba Inu team still planning to find a AAA development partner for the project. This partner has yet to be announced, despite the fact that it was supposed to happen in late March.


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