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How To Buy Land In The Shiba Inu Metaverse

 

In SHIB's Metaverse, Shiba Inu Can Now Be Used to Buy Land




When the Shiba Inu metaverse project, known as SHIB: The Metaverse, starts, users will be able to own virtual real estate called Lands, but how does it all work?



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While land in the Metaverse may now be purchased, SHIB's status implies it could quickly supplant other Metaverse initiatives.


Here's what we know about the impending Shiba Lands auction in the metaverse based on blog articles, Discord conversations, Tweets, and AMA comments.


In the Shiba Metaverse, How Do You Buy Land?


The TLDR on buying land in the metaverse is as follows:


100,595 parcels of land are available, with 36,431 released in Phase One.


Starting bids range from 0.2-1 ETH.


Purchasing Format: During Phase One, an auction-style system will be used, followed by a standard purchasing system.


Priority admission is given to LEASH and Shiboshi holders, with subsequent phases available to the general public.


The Shiba Metaverse Land Sale is now open to the public.


The Shiba Inu property auction will be open to the public starting April 23. After two periods in which only individuals with locked LEASH and Shiboshi NFTs were able to bid on land via SHIB.io, more people are now able to participate.


With over 36,000 acres accessible at this time, little over half of the land has been sold to roughly 5200 different wallets.


This period will last until all Shiba Lands are sold out. After then, it will extend to its maximum size of 100,595 plots.


Furthermore, the land was previously exclusively accessible for purchase in ETH, but this has since altered. Landowners who are interested in purchasing a plot of land can


What Land Is Available In Shiba Metaverse?


During the metaverse's first launch, four levels of land will be accessible at various costs. These are the following:


  - Tier 3 (Gold Tail) - 7356 Lands - 0.3 ETH

  - Tier 4 (Silver Fur) - 17,030 Lands - 0.2 ETH

  - Tier 1 (Diamond Teeth) - 2024 Lands - 1 ETH

  - Tier 2 (Platinum Paw) - 5714 Lands - 0.5 ETH


The interactive map on the internet allows users to see and pick their Shiba Lands. "Very comparable to the user-friendly interfaces of renting a chair at a movie theater," Shiba Growth member Milkshake remarked.


As we get closer to the start of the land auction, the majority of the remaining acreage falls into the Tier 4 category.


How To Be The First To Buy Land In Shiba Metaverse


Holding LEASH was the first and fastest means to purchase Land in the metaverse. LEASH holders will have first access to the Metaverse auction. The amount of LEASH you lock and how long you lock it will determine how much access you have.


According to Shiba developer Eric M, the amount of LEASH that potential Landowners can lock is between 0.2 and 5 LEASH for a period of 45 to 90 days. The bigger this value, the more land a LEASH bearer will be able to get.


Shiboshi holders use a similar locking mechanism as well. They were one of the first to have admission to the Lands auction. A total of 2000 Shiboshi holders will be chosen to mint land in the Shiboshi Zone.


Phases of the Shiba Inu Land Sale


Eric M stated in mid-March that the land sale is divided into three sections: Bid Event, Holder Event, and Open Purchase.


Prospective purchasers will bid on the land they desire during the first phase, which is accessible to LEASH holders. The ETH you bid is delivered to a smart contract until the auction is completed. The victorious bidder will be able to mint their new Shiba real estate at the end of the three-day bidding period.


Milkshake explained the decision by saying it was made to "prevent a gas war," presumably referencing the troubles that arose during the Shiboshi NFT launch.


Following the bidding procedure, the land sale will proceed through two more stages. The remaining real estate will be sold in a Restricted Sale for LEASH and Shiboshi holders, with no bids - simply first-come, first-served. This will persist for a week.


The minting procedure will commence when the ten days of activity have passed. A Public Sale will then make it more accessible to the general public in the same style. Eric M outlined these phases in a series of Discord conversations, saying:


On specific days, only LEASH holders will be allowed to purchase conventional items. Following [these] events, an open buying period will be established, allowing anybody to acquire the remaining lands in a usual manner.


The land transaction, however, does not end there. Holders will be able to not only sell and trade land but also customize it in return for burning SHIB, according to the most recent Shiba metaverse update.




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