According to reports, the Shiba Inu ecosystem is working on launching a stablecoin, collectible card game, and rewards token.
In a blog post, the head developer of the meme currency, Shytoshi Kusama, highlighted the new initiatives. The Shiba Inu network will soon include a new collectible card game.
This game card is intended for its upcoming metaverse. In addition, it will also launch a stablecoin and a new token. A stablecoin crisis brought on by the demise of TerraUSD (UST) prompted the Shiba Inu group to decide to create its stablecoin.
TREAT And Shiba Inu
Meanwhile, Shiba Inu’s upcoming stablecoin, dubbed SHI, would be independently developed by community developers. Kusama notes that these developers are part of the decentralized network.
As a result, this would allow the firm to avoid certain flaws. These include flaws that have been identified in existing assets in this class.
Shibarium, the project’s future metaverse, will be integrated with TREAT. TREAT is a new incentive token created for the meme coin community.
Also, the token will still be essential to the ongoing development of the Shiba Collectible Card Game. Additionally, it will be beneficial to the stability of the stablecoin, SHI.
It is currently impossible to predict a release date for the new card and the tokens. This is because additional information about them has not yet been made public.
However, Kusama remarked that the stablecoin will be made available later this year. This is if the whole project goes according to plan.
The Shiba Inu Metaverse Still Under Construction
Furthermore, the leader of the meme coin also gave updates about the company’s future metaverse. While talking about Shibarium, the founder stated that:
“Currently, the metaverse project is still going as planned. Also, we are making efforts to quickly finish this aspect of the Shiba Inu’s ecosystem.”
According to him, the initiative brought more developers into the company. These developers are working on redesigning the company’s web portals and UX/UI. The aim is to redesign them to suit the metaverse project.
However, the company has not given a date for the release of the beta phase version. Besides, this beta phase would be made available to the public after its launch.
At the time of writing, SHIB’s trading price was $0.000011 up by over 8.1% in the past 24 hours. However, the meme coin has recorded a devaluation of over 87%.
This is far from its ATH in October 2021. As of then, the token rose by about 1000%. This placed it among the digital currencies with high appreciation last year.