SHIB Creators Mull Joining WEF Plans to Shape Global Metaverse Policy

Shiba Inu was created by an anonymous developer called Ryoshi in August 2020

Written by Radhika Parashar, Edited by David Delima | Updated: 23 November 2022 17:50 IST

SHIB Creators Mull Joining WEF Plans to Shape Global Metaverse Policy

Photo Credit: Twitter/ Shiba Inu

Shiba Inu’s current market cap stands at $5 billion (roughly Rs. 40,430 crore)

Highlights

The WEF is looking to participate in the global Web3 industry
Shiba Inu has been offered to join WEF in policy drafting
Shiba Inu has not yet announced its decision

The World Economic Forum (WEF) is planning to draft policies around the metaverse that would work on a global level. To achieve this, the WEF has reached out to the developers of Shiba Inu. The volunteer project lead and developer for Shiba Inu, who goes by the pseudonym ‘Shytoshi Kusama', has announced the development along with a poll on Twitter. The Shiba Inu cryptocurrency was created by an anonymous developer called Ryoshi in August 2020 and as of Wednesday, November 23, has a market cap of $5 billion (roughly Rs. 40,430 crore).

In a Twitter poll, Kusama asked the crypto community to vote if Shiba Inu should accept WEF's offer.

In the last few hours, nearly 20,000 voters have cast their votes and the maximum of 62 percent participators have approved of Shiba Inu joining hands with the WEF.

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#ShibArmy I need a quick vote: We have been kindly invited to work with the WORLD ECONOMIC FORUM as it pertains to their MV global policy. Would love to know what you all think because it's not our decision, but yours.
— Shytoshi Kusama™ (@ShytoshiKusama) November 22, 2022

The crypto and blockchain sectors have often made it to the discussion table at several WEF events.

Offering to team up with a crypto platform however, is a first of such offers from the Switzerland-based international non-governmental and lobbying organisation.

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Over the last year, Shiba Inu has failed to maintain an impressive growth graph.

At the time of writing, the SHIB token is trading at $0.0000090 (roughly Rs. 0.000737).

The developers of the SHIB token have, however, been expanding the ecosystem of the meme coin.

Shiba Inu creators have working on a metaverse project called ‘SHIB: The Metaverse', that is being developed in Shibarium, a layer-2 solution for SHIB.

Back in January 18, Prime Minister Narendra Modi called cryptocurrencies a global challenge in his World Economic Forum address. "I am sure there will be a positive dialogue in this direction in the discussions in Davos," the Prime Minister had added at the time.

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Further reading: Cryptocurrency, Shiba Inu, SHIB, World Economic Forum, Metaverse

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More