Token/coin burn is becoming increasingly popular among crypto projects. When coins are burnt, they are either destroyed or removed from circulation, thus reducing the supply. By making a coin scarcer, its price increases, benefiting investors.
The second biggest meme coin, Shiba Inu, is expected to undergo a massive burn in the coming weeks. Although Shiba Inu is not new to the deflationary technique, this token burn is predicted to be the biggest on the network.
When is the SHIB Metaverse?
Ryoshi, the founder of Shiba Inu, has explained that the burn would prepare the network for a metaverse. At the moment, there are 589,736,561,989,744 SHIB.
At the request of Guardians of Shib, he hints at The Shiba Inu Core Devs (SICD) working towards developing its metaverse known as “Oshiverse.” The anonymous developer stated that
“We are working on so many aspects of Shiba Inu including Shibarium, Shi, Shibanet, The Decentralized Shiboshi Game, Incubator and much more that won’t become evident until the near future.”Shiba Inu into Blockchain Gaming
In addition, Shytoshi Kusama, one of Shiba’s leading developers, the project would be turning its focus into blockchain gaming.
Shytoshi Kusama says Shiba Inu is working on a project termed “future of gaming” and would be an industry game-changer.
He stated that Shiba has gotten help from game developer and former VP of Technology at Activision, William David Volk, to build a game better than other metaverses. The game would be built on Shibarium, a layer-2 network in working progress
On The Flipside
- Despite the development on the network, SHIB continues to underperform, down by more than 61% from its ATH
Why You Should Care?
Building a metaverse will increase the use cases available for Shiba Inu – an action that could help the price of SHIB rally
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