Shibainu released Shib the Metaverse on March 2023. The SXSW Festival and Conference in Austin, Texas, was a debutante affair for Shiba Inu, as the MemeFi project on Ethereum was holding the grand premiere of “Shib the Metaverse” at the major tech, film and music gathering. The actual presentations of the 4-minute-long Shib the Metaverse XR Experience took place on March. The inclusion of Shiba in SXSW was a major opportunity for the Web3 project to connect with the mass Web2 and mainstream tech crowd, as well as SXSW attendees who were interested in music, film and culture.
Shibaverse is a Metaverse
Shibaverse is a Metaverse aiming to be a decentralized, digital world on blockchain, bringing features such as virtual reality, digital real estate, NFTs, Play2Earn (GameFi), freelance jobs, and interactive aspects all into one sleek and captivating environment. VERSE is the native utility ERC20 token that is used for purchasing new real estates and other nft assets, participating in pay2earn features. However this VERSE token is not this VERSE token!
Shiba Inu Metaverse Tokenomics
Shibaverse is entirely a community-based ERC20 project, and for that reason, 100% of the 1,000,000,000 circulating VERSE supply goes to the community. 80% of the supply (800,000,000) is within the supply to decentralized exchanges (ShibaSwap & UniSwap) for liquidity. The other 20% (200,000,000) is reserved for Shiba ecosystem users (distributed in the form of airdrops in Q1 2022) VERSE stakers and rewards for the initial ShibaVerse platform users.
The metaverse could be a multitrillion-dollar market within the next decade or so, which means there are loads of opportunities for cryptocurrencies to get involved. Shiba Inu has recently announced that it’s entering the metaverse – could that be the push it needs to soar yet again?
Goldman Sachs made waves recently when it pronounced that the entire metaverse space entails an addressable market potential of around $8 trillion. This means that the metaverse-related initiatives are expected to create value that is around one-third of the current GDP of the US! It is for this reason that Shiba Inu’s bespoke metaverse offering might constitute a seminal step.
In conclusion, Shibaverse token has a lot of potential as an investment opportunity. With its strong community backing and its entry into the rapidly growing metaverse market, it could be a smart move for investors to keep an eye on this project. However, as with any investment, it’s important to do your own research and assess the risks before making any decisions.
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