Metaverse Investment DAO Burns 692 Million SHIB Worth $25,000 After Shiba Inu AMA

Metaverse DDAO vEmpire sent a whopping 692 million SHIB to the dead address on December 22 in one of the largest-ever individual Shiba Inu burns.

Following an AMA in the ShibaSwap Telegram, vEmpire CEO Dominic Ryder shared an Etherscan transaction revealing the DDAO burnt 692,937,338.5 SHIB, worth $24,710.15.

This is the fourth-largest individual SHIB burn sent to this dead wallet. It sits behind only the likes of a Baby Shiba Inu burn, and Vitalik Buterin’s whopping 410 trillion SHIB burn. The second SHIB burn wallet does have other larger SHIB burns from exchanges, too.

vEmpire Burns $25,000 in SHIB

This isn’t the first time vEmpire has burnt a significant amount of SHIB. In November, it destroyed 349 million SHIB, while it burnt 877 million via Binance in October. The recent burn brings its total burn to 1.92 billion SHIB - or 0.00034% of the total circulating supply.

During the AMA, Ryder explained why he believes Shiba Inu and vEmpire are linked.

“Shiba and vEmpire both are fighting against centralisation and a system that has never served the real people around the world,” he said.

In the future, Ryder said vEmpire will continue to follow SHIB releases. “We already own 13 Shiboshis, and we are eagerly awaiting the release of future Metaverse assets in order to set up the staking pool to begin purchasing MOAR assets,” he said. “With our future SHIB Metaverse pool, we will make sure some of this is burnt. The percentage of which will be decided by the DDAO.”

vEmpire is a Democratic DAO, meaning that one wallet (over a certain threshold) will get one vote, no matter the amount held. “A normal DAO rewards the wallets and the users with the most money. In the real world, leaving running it to the most wealthy hasn’t worked out so really, has it?” said Ryder.

The vEmpire Gamer Token (VEMP) holds a listing on ShibaSwap, with $258,441.84 in liquidity held in the DEX.

Read More: Mobile Game Burns 120 Million SHIB Following ShibArmy Backing

[Image: Unsplash/Toby Elliott]