The first phase of the Shiba Metaverse Land Sale is coming to a close, but not before fierce bidding drives up the price of some SHIB land to over 6 ETH.
After going live earlier this week, the bidding period for the Shiba Metaverse has seen over 7500 transactions from LEASH and Shiboshi holders eager to buy the prime real estate on the SHIB map.
So, before the next phase begins and more Shiba holders can get in, here’s the latest on the land sale.
Shiba Metaverse Land Sale Continues
Following the land sale delay, prospective landowners in the Shiba metaverse are clashing over key pieces of Land.
Over on the Shiba Discord, several members have complained about being outbid on their land, despite the plethora of land still yet to receive a bid. However, this is for good reason.
There are 36,000 pieces of land available during the first stage. However, much of the activity during this phase has focused on the Diamond Teeth Land. This land is the closest to the main hubs on the map.
Land around the Ryo Plaza is particularly competitive. Given its connection to the Shiba Inu founder and central position, bids continue to come in around the plaza.
According to Shiba moderator Queenie, as of yesterday, the highest bid for a plot of land was 5.19 ETH. At the time of writing, this is worth over $15,000 for one piece of Land.
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However, reports on the Shiba Discord suggest the top bid is 6.84 ETH - a bid worth over $20,000.
As we get closer to the end of Phase One, the bidding wars could escalate, too. Several holders will likely wait until the last minute to place their final bids, outbidding and breaking the hearts of those currently holding the land.
Phase One will end at 12:00 AM EST/5 AM BST on Saturday morning, or 9 PM PT on Friday. After this, it will open to LEASH/Shiboshi holders who did not lock their assets. The land sale will conclude with a general public sale a week later.