The founder of Dogecoin called SHIB Metaverse a project created just to “extort money” from customers

The founder of Dogecoin called SHIB Metaverse a project created just to “extort money” from customers


2022-04-03 11:52:55

Dogecoin founder Billy Markus, better known by his online nickname Shibetoshi Nakamoto, criticized Shiba Inu’s plan to launch a metaverse as a project created solely to “extort money” from customers and have little convenience. useful.

Shiba Inu recently announced plans to launch its own virtual reality service, called SHIB: The Metaverse, which will have 100,595 lots available for sale. Shiba Inu, which has branded itself as a “dogecoin killer” since its inception, has grown in popularity over the past few years and is now one of the most traded memecoins.

While it still loses to Doge in terms of overall market value, it has significantly closed that gap. The project has also tried to present itself as more than just a memecoin by establishing a broader ecosystem, with forays into NFT and by launching other tokens.

Dogecoin Founder Criticizes Metaverse Plan

In a series of tweets and comments, Markus said that Shib developers should focus more on supporting the project, rather than giving themselves “an additional $100-300 million from Shib holders.”

“How can generating a random metaverse and selling fake land with Ethereum add utility to their project. If people want to give developers more money, go ahead but If I were a Shib holder, I would be very upset.”

He also expressed doubts about Shiba Inu’s plan for virtual land owners to generate passive income.

Markus criticizes profit-hungry developers

The Dogecoin founder (who is no longer involved in the Dogecoin project) also criticized the Shiba developers for prioritizing personal profit over building their project. He said that the world’s largest memecoin will definitely fail, if he and co-founder Jackson Palmer become “greedy”.

Markus said the crypto space is already “overwhelming” with overly greedy creators who still get praise despite their products failing.

Although Dogecoin initially positioned itself as a satirical cryptocurrency payment system, it attracted many investors by showing a number of achievements as a legitimate payment system. Tesla CEO Elon Musk is also an ardent supporter of the token and recently revealed his Doge holdings.

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