Shiba Inu is a meme coin that's very popular among crypto enthusiasts. In fact, this coin is one of the most valuable crypto coins with a market value of roughly $19 billion. Investors believe that this coin has huge potential to grow in the future. Recently, news broke that Shiba Inu will enter the Metaverse. In light of recent news, some are wondering whether Shiba Inu is a Metaverse coin. Let's find out!
Is Shiba Inu a Metaverse Coin?
Shiba Inu founder, Ryoshi, revealed that The Shiba Inu Core Devs (SICD) is working towards developing its Metaverse known as “Oshiverse.” Shiba Inu's Oshiverse is envisioned as a non-fungible token (NFT) Gaming Metaverse space. The Oshiverse will be built on Shiba Inu's own L2 blockchain - Shibarium.
On December 8, the Shiba Inu team announced on Twitter that Playside Studios will lead the development of the Oshiverse. The Australian based gaming company will develop a multiplayer Collectable Card Game which is planned to be launched in Q1 FY23.
There is a good chance that Shiba Inu will be used as the native currency of the above mentioned Metaverses. If that's the case Shiba Inu will be a Metaverse coin. In fact, it will be the first meme coin to have its own Metaverse.
Meanwhile, Tommy and James, two brothers who are also Shiba Inu millionaires have backed a new Metaverse game. The game - Legends of Bezogia - is a Play-to-Earn game that rewards users with tokens. According to reports, the Metaverse game will use Shiba Inu as its native token. The game hasn't been released yet but will be released first for PCs, followed by mobile and Mac devices.
Can I Use $SHIB in Metaverse?
Yes, $SHIB can be used in Shiba Inu's Metaverse.
Shiba Inu ($SHIB) will be the native token of the prospective Oshiverse. So, $SHIB can be used as the currency to purchase the game assets, in-game items, and the other services in the Oshiverse. However, you cannot use $SHIB in any other popular Metaverse such as Decentraland, Axie Infinity or The Sandbox.
Since Shiba Inu's Oshiverse is still in development, you can't use it in the Metaverse yet. However, once the Metaverse is fully developed, $SHIB will be used for the payment of all transactions in the Oshiverse. Moreover, the game rewards will also be paid in $SHIB coins. Let's wait and see what Oshiverse has to offer us.
As noted earlier, the upcoming Metaverse game, Legends of Bezogia, uses $SHIB as its in-game currency. The game is an MMO blockchain-based play to earn game utilizing NFT technology for in-game asset growth and a complex in-game economy. So, in addition to Shiba Inu's Metaverse, $SHIB can be used in this new gaming Metaverse as well.