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April 1, 2022

Billy Markus Thoughts on Shiba Inu’s Metaverse

In a rage-filled tweetstorm on March 31, Dogecoin co-creator Billy Markus slammed Shiba Inu’s virtual reality project “SHIB: The Metaverse.” Markus, one of the two software engineers who invented the first meme currency, claimed that the much-touted metaverse project is nothing more than a money grab for developers.

Shiba Inu developers revealed new details about the ecosystem’s metaverse project on Wednesday, which would include 100,595 land parcels for sale. They stated that they picked ethereum as a land price token since it is a cryptocurrency that is impartial.

Markus, who goes by the Twitter handle Shibetoshi Nakamoto, ridiculed the idea, claiming that selling fictitious land with the second-largest cryptocurrency will not increase the utility of the SHIB coin.

He went on to say that the metaverse initiative is a money grab for the producers of the second-largest doggy-themed cryptocurrency, who are looking to earn more money. According to the co-founder of Dogecoin, they might earn an additional $100-300 million from Shib holders.

Markus questioned whether the Shiba Inu team intends to conduct the necessary Know Your Customer (KYC) procedures and register it as a security with the United States Securities Exchange Commission after the Shiba Inu team confirmed that land buyers will be able to earn passive income from the metaverse project (SEC).

Markus, who is no longer associated with Dogecoin, also took aim at cryptocurrency developers who are more concerned with profit than with the development of their projects.

Markus points out that if Jackson Palmer and himself had been greedy, Dogecoin would have been a catastrophic flop. “These days, highly selfish and deceptive inventors are lavishly rewarded.” But their goods all fail for obvious reasons,” the Dogecoin co-founder stated in another tweet thread.

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He confesses he’s irritated by dishonest developers who make millions by marketing frauds, despite the fact that his invention, which has a market valuation of over $80 billion, netted him only $3,000.

Although Dogecoin began as a joke in 2013, it has since developed to become the face of memetic money. In fact, one of the world’s most prominent individuals, Elon Musk, has praised DOGE as a superior form of payment than bitcoin.