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Shiba Inu's metaverse project is set to be partially opened by December 2023.
In an update Tuesday, the Shiba Inu team announced they are "confident that by the end of 2023 users will have the opportunity to explore some of the areas in this fantastic world, build, design, play and develop within it."
However, "SHIB: The Metaverse" will not be complete upon release, with the developers noting "not all areas of the metaverse will be fully completed as it is an ongoing project."
The metaverse, developed in Shibarium, will feature 100,595 plots of land that will be minted by users. Owners of these land plots will be able to generate passive income from their land, collect in-game resources and earn rewards.
Shibarium is the meme coin's Ethereum Layer 2 (L2) scaling solution. The goal is for the network to take over a large portion of the SHIB transactions so that it doesn’t rely solely on Ethereum. The L2 will also reportedly help to minimise transaction fees and increase TPS (transactions per second).
Developers are also planning for players to have their own space where they can build projects.
Users will be able to create their own humanoid dog avatars and explore lands.
Shiba Inu's price initially rose to $0.0000117 following the announcement on Monday, but the token has subsequently fallen 8% to as low as $0.00001071.
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