There is never a dull day in crypto. Shiba Inu investors are enjoying that idea right now. The ecosystem is filled with new announcements every day and recently, it dropped another huge development. Shytoshi Kusama indicated the development of Shiba into the gaming industry. The Shiba Inu proponent also announced a partnership with William Volk to develop the Shiba-backed video game.
Additionally, the meme token will also incorporate Metaverse functionality, projecting its long-term trajectory and feasibility in the space. However, it is imperative that we analyzed the development from a closer point of view. In this article, we are looking at Shiba Inu’s eventual entry into the Metaverse space and what it means for the meme token’s future.
Shiba Inu and blockchain gaming
Blockchain gaming is one of the highlights of 2021 as play-to-earn tokens have witnessed massive success. Axie Infinity, GameFI are some examples, and the recent Metaverse development allowed tokens such as MANA and ENJ to prosper.
Shiba Inu is growing at a rapid speed when it comes to adoption and price appreciation. However, critics continue to call it out for a lack of utility and functionality. With the present development, it is currently serving a new objective.
Blockchain gaming currently has more than 1.4 million Uniques Address Wallets logging in every day and that is also the future activity rate for Metaverse. It will be a virtual universe where users replicate physical experiences and carry out activities such as shopping, exercise, business, and even buying virtual land.
For instance, Decentraland’s MANA token reached a new all-time high last Thursday after it facilitated a virtual real estate sale for 680,000 MANA tokens. Hence, innovation is currently at breakneck speed. Shiba Inu’s eventual implementation into the Metaverse may trigger similar levels of success.
However, there is one difference.
Metaverse Projects have an upper hand
While Shiba Inu is presently dwelling on developing blockchain games over the next year, the likes of Decentraland and the Sandbox are already executing it. On Decentraland, users can already people to buy/sell, maintain and manage virtual property called LAND. In this Metaverse, people can develop their LAND in whichever way they see fit, either through phone, laptop, or desktop.
While the Sandbox is unique in terms of conceptualizing your own game. Users can use SAND tokens in other games, manage other virtual assets. Lastly, both of these projects are based on Ethereum. It is the most secured and safe blockchain in the space, a level of credibility lacking with Shiba Inu at the moment.
Never say Never
Hence, this is a challenge for Shiba Inu and its future Metaverse venture. One thing demonstrated by the Shiba community is that it has a loyal following. Hence, while becoming a capable Metaverse token might take time, success is possibly guaranteed with Shiba Inu due to its popularity. Shiba Inu’s partnership with payments platforms such as Newegg indicates there is rising trust in the ecosystem. Therefore, the future is bright for Shiba Inu and Metaverse.