Following the NFT craze, crypto enthusiasts have recently turned their attention to the Metaverse. Shiba Inu is the latest network to declare similar ambitions, with several companies trying to jump on board.
Shiba Inu, unlike its main competitor, DOGE, continues to develop and expand its ecosystem. Shiba Inu’s “Shiberse” would be the company’s first release of the year. Shytoshi Kusama, Shib’s chief developer, has been teasing investors about the release for the past week, and now it’s official.
In a recent tweet, they confirmed the release of Shiberse. Shiba Inu has always done things a little differently. With a supply of 1 quadrillion coins, Ryoshi locked half of them in Uniswap and “burned” the other half to Ethereum co-founder Vitalik Buterin for safety.
SHIB was used in the most significant crypto donations in history to help halt the deadly spread of Covid-19 in India and subsequently burnt 40% of its total supply to a dead wallet, guaranteeing its long-term success and stability.
Shiba Inu’s entry and the growing popularity of Metaverse
The Metaverse is the next step in the evolution of social networking. Neal Stephenson’s dystopian cyberpunk novel Snow Crash is credited with coining the term metaverse. The novel, along with William Gibson’s Neuromancer, which envisions a virtual reality dataspace called the matrix, was published in 1992 and is regarded as a canon of the genre.
In general, the Metaverse will be a collaborative effort including more than one institution. It will be a networked platform for virtual and augmented reality that will be built by individuals all around the world and available to everyone.
Goldman Sachs, a global investment firm, estimates that the Metaverse might be worth $8 trillion. In a recent “Exchanges at Goldman Sachs” program titled “Understanding the Metaverse and Web 3.0,” Goldman Sachs analyst Eric Sheridan detailed the bank’s metaverse projection.
“We think this could be as much as an $8 trillion opportunity on the revenue and monetization side”Eric Sheridan
Shiba’s entry into the Metaverse world is an excellent initiative on the company’s part that can ensure greater acceptance and demand for the SHIB coin. SHIB has been on a downward trend since the start of 2022, following a phenomenal 2021 in which Shiba Inu’s native token had an ROI of almost 1322447.01 percent at one point. On October 28, 2021, SHIB reached an all-time high of $0.00008845. As per the data by CoinMarketCap, SHIB is currently trading at $0.00002132 with a 24-hour trading volume of $924,075,914.