Shiba Inu (SHIB) has been on a rollercoaster so far in 2022. The popular token has seen multiple listings, partnerships, and several adoption cases around the world.
However, the biggest achievement for Shiba Inu (SHIB) so far this year has been the launch of their very own metaverse, namely, SHIB: The Metaverse. Over 100,595 pieces of land are scattered over four districts in the Shiba Inu virtual world.
The land bid for SHIB: the Metaverse went live a week ago, and today we shall look into the amount of money Shiba Inu has earned in the process.
Shiba Inu metaverse sales
According to the data, the ShibArmy has spent about $20 million in Ethereum on land in the Shiba Inu metaverse less than a week into the SHIB land auction event.
Holders have spent 6280 ETH on land in Phase One and Phase Two of the land auction, according to the two contracts. However, this is only for a limited percentage of SHIB holders. Bids will remain closed to LEASH and Shiboshi holders until the public sale begins this weekend.
According to Etherscan, the greatest single transaction in the SHIB metaverse sale was 36.3 ETH ($110,712) spent by one user. This bid, however, was not for a single piece of property. Instead, it used the multi-bid format that was added during Phase One. The user purchased 121 distinct pieces of land for an average of 0.3 ETH.
Two users have purchased 200 pieces of land, which is the maximum that one person can buy. However, another user appears to have outdone this, with 209 NFTs in the ‘SHIB YARD’ land collection. To accomplish these purchases, they used 40.8 ETH spread out over 8 transactions. There are currently 3337 landowners in the Shiba Inu metaverse, with a total of 12,975 plots.
While some single transactions paid more than 4 ETH for a single plot of land, future sales will be at predetermined pricing. These will differ based on where you are on the metaverse map. With 100,000 plots of land planned for SHIB: The Metaverse, the remaining land will be unlocked only when the first 36,000 plots have been sold out.
Additional Update
The Shiba Inu team has just put out a guideline for the safety of the community and users. The guideline warns people against hate speech, displays of intolerance, or bigotry at the discretion of the community moderation team. Any account that goes against the guidelines, will not be tolerated, the message said. The wallet of any such individual will be blacklisted, the team warned, and won’t be allowed to participate in any of the areas in the metaverse.