Leash, a token in shiba inu's ecosystem, surges 44% on metaverse real estate plans

• Doge killer jumped 44% after developers revealed real estate metaverse ambitions.
• The token, ticker LEASH, is part of shiba inu's ecosystem.
• News of the new project, which goes by the codename Shibverse, came to light on Tuesday.

Doge killer, a token in shiba inu's ecosystem, surged as much as 44% Wednesday after developers behind the coin revealed real estate metaverse ambitions.

News of the new project, which goes by the codename Shibverse, came to light through a Tuesday blog post. In this temporarily named venture, the developers said they will introduce Shiba Lands, virtual properties inside shiba inu's metaverse, with availability for purchase coming "soon."

Investors who hold doge killer, which trades under the ticker LEASH, will be given priority and exclusive access to the properties. The remaining ones will be unlocked to the public.

"The metaverse is set to be one of the biggest areas within crypto for many to enjoy, while others will produce content and developers will set up shops within using it as another great resource to offer crypto communities incentivization, content, and regular royalties," the developers said in the blog post.

LEASH was up 41% at $1,775 as of 9:56 a.m. ET on Wednesday based on data from CoinMarketCap.

The doge killer token currently ranks 2,833 by market valuation though it is unclear what the maximum circulating supply is as of now, CoinMarketCap said. Apart from LEASH, there are two others in shiba inu's ecosystem: bone shibaswap (BONE) and shiba inu (SHIB).

Shiba inu's developers are tapping into a growing market that has, thus far, been dominated by Sandbox and Decentraland whose tokens have ballooned into billions of dollars based on market capitalization.

Grayscale, the largest crypto-fund manager, said the metaverse could generate $1 trillion a year in revenue from advertising, digital events, and more.