$SHIB: Bidding War Stops User From Drawing Swastika on Shiba Inu Metaverse

$SHIB: Bidding War Stops User From Drawing Swastika on Shiba Inu Metaverse

Shiba Inu’s metaverse saw a bidding war occur earlier this month to stop an unknown actor from drawing a swastika on it by acquiring land to create the symbol. The $SHIB community prevented it from happening by quickly buying land near it.

The symbol was first spotted by users on Shiba Inu’s Discord server, which noted it was being drawn “just above a temple.” To stop the symbol from being present on the map, users moved to buy land around it, effectively turning it into a window.

During the bidding war, one user suggested the move to stop the symbol from being there was simple: “just bid in between the symbol and it will go away,” another quickly pointed out the entire Shiba Inu metaverse would be less valuable because of it, saying it “brings down the value of our lands.”

As the bidding war ensued, users on Discord tracked the balance of the wallet address bidding to create the symbol and managed to turn it into what resembles a window.

Bidding war results. Source: SHIB Discord

Some speculators suggested that, as the bidder’s wallet drew empty, they could soon move more ETH from another wallet to keep on bidding. The SHIBArmy kept on rallying, with users touting “the shibarmy is strong”

The bidder then added an “f” behind the window symbol, which many interpreted as a move to “throw off” the SHIBArmy. While the bidding war stopped the symbol from being on the Shiba Inu metaverse, it prompted a response from an official account associated with it.

Via the microblogging platform Twitter, the official SHIB Metaverse account published a statement revealing it will “not tolerate the use of hate speech, displays of intolerance or bigotry” and that “any account or individual who attempts to incite harm towards others is also not allowed.”

The announcement adds that the metaverse will “place the wallet identifying the violation on a blacklist” which means the wallet will “never be able to participate in any and all areas of this platform.” The wallet bidding to create the swastika has been blacklisted.

The move saw some defend the team’s actions, while others started questioning the decentralization of the Shiba Inu metaverse, arguing the team has too much power “to hold in a decentralized system.”

As CryptoGlobe recently reported, the meme-inspired cryptocurrency SHIB has become Ethereum whales’ top token holding after surpassing FTX’s $FTT token and leading stablecoin USDT among the network’s largest whales.

The whale’s investment came shortly after SHIB’s trading volume exploded over its listing on the popular commission-free trading platform Robinhood, along with Polygon (MATIC), and Compound (COMP).

The listing was celebrated by the Shiba Inu community as a whole, but seemingly didn’t prompt long-term holders to divest of their holdings, as addresses holding SHIB for over a year have seen their balance rise by 57% in the last 30 days, according to IntoTheBlock data.


The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.


Featured image via Pixabay

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