The cost of the much talked about ecosystem token featuring Shiba Inu named Leash skyrocketed at about fifty percent after the "Shiba Lands" announcement.
The developers behind this popular coin featuring the meme sensation Shiba Inu stated that their protocol would provide virtual land plots in the upcoming metaverse, although unnamed. Following the announcement, the cost of the ecosystem tokens such as Shib coin and Leash coin hiked up to forty percent.
In general, Metaverse denotes the virtual world where crypto users can interact amongst themselves just like in the physical world but the process occurs in the digital medium. In recent years, this concept gained momentum and thereby, the metaverse tokens such as AXS of Axie Infinity and MANA of Decentraland are now worth billions.
The developers of Shiba Inu stated in one of the blog posts that the metaverse can be considered as among the biggest sections within the world of cryptocurrency that the users can enjoy while utilizing it as a great resource for offering content, regular royalties, and incentivization to crypto communities.
The exclusive "Shiba Lands" will be set up in the upcoming metaverse of Shiba Inu and it will be available on sale or for auction by using the LEASH tokens.
The developers noted that they are in progress with the "queue system" created for the sales event of Shiba Lands. The participants will get their places in the system according to the LEASH amount they have in their accounts. This system is going to stop opportunistic bots to snap up the land early with low costs for selling them to the crypto community at a higher cost.
Within twenty-four hours, the cost of the LEASH tokens hiked at about 46 percent, as per the data submitted by CoinGecko show's analytics tool. Shiba coin has one quadrillion tokens in supply, including half of them locked away. LEASH, on the other hand, has minted only 107647 tokens.
Meanwhile, the price of the SHIB coin fell eight percent in twenty-four hours after moving up at about forty percent on two days. During the press time, the Shib coin was in trade at around 0.000033 USD.