Dogecoin Co-Founder Strictly Criticizes Shiba Inu’s Metaverse

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Alex Dovbnya

Dogecoin co-founder Billy Markus believes that Shiba Inu’s much-hyped metaverse project is a useless money grab for the developers behind the second largest meme coin

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Long Simmering Rivalry Overhyped and Overpriced?

Dogecoin co-founder Billy Markus has taken a swipe at Shiba Inu’s metaverse project in a series of recently published tweets

The software developer, who has gained notoriety on Twitter for his frequent interactions with Tesla CEO Elon Musk, claims that selling fake land with Ethereum will not increase the cryptocurrency’s utility.

As reported by U.Today, Shiba Inu revealed the details about his metaverse project, which was originally announced in early February. More than 10,000 lots are up for grabs during the first phase of the rollout.

The team claims that it chose Ethereum (ETH) for pricing because it is a neutral cryptocurrency.

Markus claims that the metaverse project is just a money grab for developers looking to make even more money. He estimated that they could potentially raise $300 million by selling fake land. The Dogecoin co-founder also warned that securities regulators may question the Shiba Inu team’s plan to allow landowners to earn passive income.

In a follow-up threadMarkus says watching “scammers” making millions from crypto makes him “salt.”

Simmering rivalry

Shiba Inu, who originally positioned himself as a “Dogecoin killer”, managed to briefly topple the market cap of the original meme coin last October.

In November, Markus accused the Shiba Inu community of harassing him and asked its members to leave him alone after he was inundated with spam messages. The co-founder of Dogecoin has repeatedly stated that he has nothing to do with the rival meme token.

Overhyped and too expensive?

Meanwhile, seasoned cryptocurrency analyst Alex Krüger argues that metaverse land is actually overhyped and overpriced, as one can produce it in infinite quantities.

Image by twitter.com

He believes that investors should use real mental models when assessing the value of virtual land.

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