Shiba Inu Developers Raise $20M Ethereum In Metaverse Land Sale

Shiba Inu SHIB/USD developers sold virtual land plots worth $20 million to bidders in the first two stages of the cryptocurrency's metaverse land sale.

What Happened: According to data from blockchain explorer Etherscan, users spent 6280 Ethereum ETH/USD to acquire land so far.

“How many times have you raised almost $20 million in five days? On a crashed market?” said Shiba Inu developer Eric M on the project’s official Discord channel.

See Also: How To Buy Shiba Inu (SHIB)

As of now, there are a total of 3,649 land owners in the SHIB metaverse and over 12,900 plots minted.

The largest individual transaction was for 36.3 ETH, worth $110,700. The user purchased 121 different plots of land for an average price of 0.3 ETH.

Four users own at least 200 plots of land in the SHIB YARD collection. Although the maximum quantity individuals were allowed to purchase had been limited to 200, one user seem to have bypassed this restriction. The virtual land owner purchased 209 plots for 40.8 ETH.

Earlier today, the Shiba Inu team said it had blacklisted one user from its metaverse for creating a hate symbol pattern on the metaverse map with land bids.

“We will not tolerate the use of hate speech, displays of intolerance, or bigotry (through words, actions, symbolism, etc) at the discretion of the community moderation team,” the developers said in a statement.

Price Action: According to data from Benzinga Pro, SHIB was trading at $0.00002486, down 2.25% over the previous day.