IN THIS ARTICLE, WE DISCUSS THE WAYS IN WHICH SHIBA INU’S IS TRANSFORMING ITSELF FROM A MEME CURRENCY TO AN ACTUAL GAMING COMPANY.
Shiba Inu (SHIB), the 12th largest cryptocurrency by market cap and the most popular meme currency at the moment is looking to build its Metaverse. Shiba Inu team announced they have onboarded William David Volk, former Vice President of Tech at Activision, one of the largest game developers in the US who boasts of a 36-year long career in the gaming industry.
Volk would be key to Shiba Inu’s development of Play-to-Earn (P2E) NFT games that would help the meme currency consequently transition into its Metaverse. The development of the Metaverse will begin in 2022 and will be built in-house by the SHIB team. Shytoshi Kusama, the project lead at Shiba Inu games revealed their Metavese approach would be quite different from Facebook.
Shiba Inu’s team seems to be eager to shed the “joke currency” tag and become one of the early movers in the Metaverse. The leading meme currency is planning to incorporate the best of all current trends, be it P2E NFT gaming or Metaverse.
CAN SHIBA INU’S GAMES ANNOUNCEMENT BRING BACK THE BULLS?
Shiba Inu team continues to make great headway in terms of new functionalities and services, however, November has proven to be bearish for the SHIB price. The altcoin has lost more than 55% of its valuation from its all-time high of $0.0000885 in October.
The altcoin has seen constant bleeding throughout November as evident from the one-day chart. SHIB price is currently moving in a descending channel on the 1-day price chart, and the recent Metaverse announcement could help the meme currency make a bullish breakout after nearly four weeks of bearish momentum.
Metaverse tokens have been the talk of the crypto town recently with two major projects, The Sandbox (SAND) and Decentraland (MANA) hogging all the limelight with their mammoth price surge. SAND price surged over 10X in November, while MANA recorded a 7X surge. Apart from the price surge, some virtual properties in these metaverses have already fetched millions of dollars in the bid, making them costlier than some posh New York real estate.
Shiba Inu is banking its hope on the current Metaverse trend which could eventually bring back the bulls for the meme currency.