Shiba Inu: Top Metaverse Company Reveals SHIB Ownership

Previously, they spent an undisclosed amount to acquire a variety of memecoins, including SHIB, such as Dogecoin (DOGE), Pepe (PEPE), Bonk Inu (BONK), Memecoin (MEME), and Degen (DEGEN).

While they did not reveal exactly how much they spent, the investment is intended to enhance the presence of these tokens in Web3 culture, support the communities behind them, and provide more utility to users.

In addition, the company also detailed their latest memecoin collection. In particular, the metaverse company introduced Shiba Inu, which was anonymously launched in 2020 and was inspired by the same dog breed that Dogecoin (DOGE) is based on.

They believe that this step will help position Shiba Inu as a global phenomenon and build its own ecosystem alongside other native tokens such as LEASH and BONE. According to the announcement, The Sandbox plans to launch multiple initiatives using its collection of memecoins, including SHIB, to enhance the utility of users. However, they did not reveal the specifics of these initiatives.

For background, The Sandbox was originally founded in 2012 as a mobile video game developer. As cryptocurrencies entered the mainstream, The Sandbox dived into the space in 2020, raising $2 million in crypto and cash to build a gaming world based on Ethereum.

The company gained a lot of attention during the NFT craze in 2021, attracting top users like hip-hop star Snoop Dogg. In 2022, an unknown user even spent nearly $500,000 to buy a piece of virtual land near Snoop Dogg.

Earlier this month, The Sandbox raised $20 million from top investors such as LG Tech Ventures, achieving unicorn status.

So, The Sandbox is not only playing games, but also playing with the world of cryptocurrencies. Let's see what surprises they will bring next!

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