- Shiba Inu developers different phases for the virtual real estate land sale on the Shiba Inu metaverse.
- LEASH and SHIB holders will get priority access before opening the sale to broader audience and public.
Earlier this year, Shiba Inu Coin developers announced their decision to venture into the Web 3.0 world of Metaverse. Codenamed Shiberse, not many details of the project are available yet. But Shiba Inu said that it aims to provide an immersive experience for the ecosystem and the Metaverse space.
But as per details released last month, users will be able to buy virtual real estate ‘Lands’ on the Shiberse. Shiba Inu said that it draws this concept from the Axie Infinity Land. Besides, it also added that LEASH owners will get the first priority for buying Shiberse Lands.
However, following the developments in this space, we have a few details about the land sale in the Shiberse.
- The total available land will be 99,000 pieces, of which 35,000 pieces will be released in Phase One.
- The price of the land pieces will be available anywhere between 0.2-1.0 ETH.
- The Shiberse developers will use an auction-style system during Phase One.
- LEASH and Shiboshi users will get priority access with future phases opening to the public.
In the Shiberse, users will be able to select their land using an interactive map. One of the Shiba Growth members dubbed Milkshake said that it will be “Very similar to the user-friendly interfaces of booking a chair for a movie theatre”.
How to buy the first land in Shiberse
One of the fastest ways to buy land in the Shiba Inu metaverse will be through holding the LEASH coins. As said, LEASH holders will get priority access which will scale depending on the total LEASH you lock and the time period involved.
Shiba developer Eric M further explained that prospective Landowners can lock anywhere between 0.2 LEASH and 5 LEASH for a period of 45-90 days. The larger the value of LEASH and the time period, the greater value of land a LEASH holder can acquire.
A similar locking mechanism will also apply to Shiboshi holders who will also get priority access. Additionally, 2000 Shiboshi holders will be selected to mint land in the exclusive Shiboshi Zone. However, Eric M also stated that owners will bid for the land using ETH, and not SHIB.
Despite early access to LEASH and Shiboshi holders, regular holders will get a chance to purchase the Land following Phase One of the launch.
Three major land sale phases in Shiberse
The Shiba Inu metaverse will have three separate sections of the land sale as described by Eric M. This includes Bid, Restricted Purchase, and Open Purchase.
In the Bid phase, the ETH bid coming from LEASH holders will be sent to a smart contract until the end of the auction. By the end of the auction period, the successfull bidder will be able to mint their Shiba real estate.
Milkshake said that this arrangement is particularly to avoid a gas war. Post the bidding phase will be the Restricted Phase where in LEASH and Shiba holders can buy the rest of the real estate with no bidding but instead on the first come first serve basis.
Later, the minting process will begin which will be available to the much broader audience. In his recent Discord messages, Eric M explained:
There will be some days where just LEASH holders will be able to purchase normally. After all [these]events, open purchase will be set up and everyone will be able to purchase the remaining lands on a normal fashion.