3 Reasons Why I Avoid The Shiba Inu Metaverse

There are several crypto coins featuring one of the internet’s favorite dog breeds, the Shiba Inu, but only one is in the midst of an initial land sale for its new metaverse. SHIB: The Metaverse is a project born out of the SHIBArmy, a community for bearers of the shiba inus piece of money ( SHIB 1.06% )as well as other coins and tokens belonging to the same ecosystem.

When I first heard that they were launching their own metaverse with land available for purchase, my ears perked up. However, there are several reasons why I avoid choosing virtual real estate in SHIB: The Metaverse at the moment.

Image source: Getty Images.

1. Lack of a development roadmap

Although members of the SHIB Discord assure me that they usually work without a network, I am a relatively conservative investor (for someone dabbling in cryptos and metaverse spaces). I like to see that there’s a solid plan and that I can really sit down and put some numbers together on what the future of a platform might look like.

Contrary to Decentralized ( MANA -0.98% )documented to death and open to investors for many years, or The sandbox ( SAND -0.82% )whose creators have a long history in developing open-world games, I still don’t see enough evidence to convince me that I understand what SHIB: The Metaverse will look like, or how it will behave.

This matters when it comes to metaverse real estate. For example, some platforms will show everything in the world around a real estate lot at once, so you’ll be in front of a metaverse cafe, but you can see the billboards across the street , the shops next door, etc., just like in real life. Others only render the specific plot you’ve chosen to explore, in which case, say, a billboard company might not do so well because you can’t really see anything other than the project with which you are committing to.

I don’t know what perspective the platform will offer, and I don’t think anyone knows yet. The developer of the software has not been announced as of this writing on April 13, 2022. For some metaverse real estate businesses, this detail may not matter, but for others, it may not matter. is the main thing. For that reason alone, now is definitely not the time to buy. As they say, the devil is in the details. It’s a detail that makes a huge difference.

2. He doesn’t use his own room

SHIB: The Metaverse was a great opportunity for consistent utility to finally be given to the Shiba Inu part. Instead, metaverse property purchases are secured with a token called LEAVE ALONE and bought with Ethereum. The developers explain that this is because they intend to cash out all sales in stablecoins (cryptos that are backed by real-world currency), and they fear devaluing the Shiba Inu token.

It might be a real risk, but it’s also a move that kind of feels like this project is even more in the idea phase and less in the practice phase. For a real estate investor, we need to know what we’re buying, who we’re buying it from, and what the vision is. A lack of documentation in a new world and the refusal to use its own native currency makes me think that this project still has some way to go, despite the hype and the very real dedication of the SHIBArmy.

3. The SHIBArmy itself

Many cryptocurrencies develop their own followings. It’s completely natural and normal, and it generates a sense of community. If there’s no reason for people to hang around, a metaverse platform is just an empty program with nothing in it. Having a pre-built community is absolutely a plus for this metaverse project.

However, this can also be problematic if you have a tightly-knit community that is still relatively small when it comes time to launch real estate sales. Only a percentage of SHIBArmy members will be both interested and willing to buy virtual real estate in this new world at this point. Currently, sales are limited to Shiboshi NFT holders, of which only 10,000 have been created. That’s, ironically, probably great for Shiboshi holders, but it can create a club that’s too exclusive to really fuel a metaverse platform’s real estate economy.

For now, I’m staying out of SHIB: The Metaverse

I hold SHIB coins and bought them mostly out of curiosity last year, but until I can see a more solid vision of what SHIB: The Metaverse wants to become, I can’t approve of a purchase there- low. Once a game developer is secure and a clearer picture emerges of what kind of platform it is and how it will work, that story may change.

After all, we are first and foremost real estate investors. With this, we must know that what we are buying is a property that we can develop according to our own strength or believe that someone will want to buy what we have. Buying these virtual lands blindly can get you a decent price (provided the metaverse platform does), but it’s the same as buying vacant land not knowing if you can fit there. operate utilities or if it has already been surveyed.

There are simply too many unknowns to be able to get a clear idea of ​​what the highest and best uses of these properties really are and the expense that will be involved in developing them.

This article represents the opinion of the author, who may disagree with the “official” endorsement position of a high-end Motley Fool consulting service. We are heterogeneous! Challenging an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and wealthier.

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3 Reasons Why I Avoid The Shiba Inu Metaverse

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