Shiba Inu reveals the first concept of its metaverse project

• Shiba Inu’s development arm shares more details about the WAGMI temple.
• The network’s metaverse team will introduce Fireside chats throughout the creative process.

The development team of Shiba Inu has revealed more details about the idea of the upcoming metaverse project (SHIB: the metaverse WAGMI temple). WAGMI is an acronym for We’re All Gonna Make It. The latest post on the Shiba Inu blog stated that the WAGMI temple would create a zen-like environment such as spiritual connections to the world, calm meditation, sensation, and natural beauty.

Shiba Inu also revealed black and white images (sketches and artworks) for the soon-to-be-launched WAGMI temple. The concept behind the images is to show a strong, powerful, physical, and connected world. The aim is to share important feedback with the SHIB army (the Shiba Inu community).

Part of the feedback would include the roles of the WAGMI temple in the Shiba Inu metaverse project. According to the blog post, the metaverse team used inspiration from various sources to design the architectural concept for the WAGMI temple. Such inspiration sources include New Delhi’s Swaminarayan Akshardham and Beijing’s Temple of Heaven.

Shiba Inu developers create Fireside chats

Shiba Inu also revealed that its metaverse team would create Fireside chats while creating the metaverse. The Fireside chat will enable community members to ask questions, suggest ideas, and express their worries about the project.   Shiba Inu will host the chats on its official discord channel. Then, it will roll it out on its other platforms.

The network will host the first Fireside chats for the WAGMI temple on September 8, 2022, by 8 pm EST. Shiba Inu’s introduction of a WAGMI temple is another way it proves that it’s more of a utility project and not just a meme coin. It is worth noting that SHIB developers have been creating the core structure for its metaverse following the Third-Floor announcement. The developers said this core structure is an infusion of the network’s best practices.

SHIB price and SHIB tokens burn

The 7-day chart of SHIB’s price shows a 9 percent decline even though the network burned more than 3.7 billion SHIB tokens in August alone, according to the ShibBurn Twitter handle.

In the past hour, there have been a total of 751,082 $SHIB tokens burned and 1 transaction. #shibarmy

— Shibburn (@shibburn) September 3, 2022

While the price dip created fear among the SHIB army, developers are making efforts to improve the burn policy. Investors seeking long-term returns would consider an improved burn policy a positive sign. One such positive sign is Uniswap’s support for the burn protocol. The burn process aimed to boost SHIB’s price. Hence, the support from Uniswap should have the expected positive effect on the SHIB price.

The metaverse projects will also boost the native token’s price. Towards the end of last month, SHIB’s market value realized value ratio indicated a downtrend. However, this trend is starting to change, suggesting that SHIB’s price might likely go up in the next few days. Nevertheless, recent data from the on-chain analytics platform, Santiment, showed a rise in the number of active daily addresses (from 4,600 to 6,200) for SHIB tokens.