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Shiba metaverse is the recent project Shiba network is undertaking. The project was announced by the famous Shiba developer Shytoshi Kusama.
Metaverse has become common in the tech world with developers rushing to gain an edge in this emerging industry.
It is the bridge between the physical and digital spaces and attempts to combine the two in advancing some technologies such as gaming.
Other than SHIB, other crypto networks are working on the metaverse concept as well. Some of these include;
These tokens have been experiencing some of the biggest growth in the market recently outperforming major currencies such and Bitcoin and Ethereum.
This spike was partly triggered by Facebook’s recent announcement that it was renaming to META.
The Facebook Effect on Metaverse
The metaverse concept was not very popular until Facebook CEO Zuckerberg’s public announcement of the company’s intentions. This is causing a race among the technology companies in coming up with the best products in the market.
Facebook is not disclosing much about its plans on the subject. However, it has become public knowledge the company has been working on it for several years now. At this point, it doesn’t matter who is doing what on the field but on who delivers the best product. It is anyone’s game to win.
The only difference between Facebook’s metaverse and cryptocurrency metaverse is that Facebook’s functions through centralization while the cryptocurrency ones are decentralized.
Trying not to miss out on this frontier, Shiba has announced plans to create its metaverse world through the Shiboshis games. Shiboshis refers to the 10,000 non-fungible tokens that run on the Shiba network.
These tokens will be critical in the development of Shiba games.
Shiba is famous for its quick development and launching of market solutions. A great example is the launch of its trading platform ShibaSwap and the NFT tokens. With this in mind, most analysts believe the coin could revolutionize the industry if it moves with speed and produces quality products.
Effects of Shiba Metaverse On the Industry
Some of the coins that have been pushing the adoption of this technology haven’t made huge advances in the market. They also have fewer investors and their market valuation is low.
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Shiba on the other hand is among the largest cryptocurrencies in the market with its investors exceeding 1 million recently.
With a superior product and better marketing, Shiba has the chance of taking the lead in the decentralization of metaverse solutions.
Effects of Metaverse on Price of Shiba
As a cryptocurrency, one of the key goals is to grow in value. Through diversification of metaverse, Shiba is focusing on this element.
Shiba is arguably one of the best performing cryptocurrencies in the market this year. Its recent rally saw its price growing by over 500%. Most Shiba investors believe the coin has more potential and could hit the 1 cent price in the future.
Only through investing and dominating such fields will assist Shiba to achieve this goal.