If you’re familiar with CryptoPunks, you already asked what are Meebits. After Larva LAbs’ earliest NFT project proved successful, they returned in 2021 with Meebits. A newer PFP NFT project with double the supply and an extra dimension.
What are Meebits?
Like CryptoPunks, it is a collection of 20,000 Ethereum-based PFP NFTs of characters with randomly generated traits. But unlike their predecessors, The Mees are 3D and rendered in voxels (pixels with volume). Of the 20,000 characters,18,881 are humans, 711 are pigs, 256 are elephants, 72 are robots, 57 are skeletons, 18 are visitors and 5 are dissected. Meebits compare to characters from games like Minecraft and Roblox, and that’s what makes them so attractive to buyers.
Meebits in the Metaverse
Larva Labs is betting that their voxel characters will play a crucial role in the developing metaverse. And While some big tech firms build centralized metaverses where they control all the virtual assets on the platform, Larva Labs hope to build a truly decentralized metaverse. That’s where users own virtual assets in the form of NFTs—which can be relocated between different metaverse platforms.
If you buy a Meebit, you will also receive the entire 3D and HD render of your character. You can port this directly into any metaverse project that supports it- although, currently, few do.
Meebits is a very diverse project, although all the characters have one thing in common- they are expensive. According to CryptoSlam, They have an all-time sales of $535.4 million in less than two years.
The floor price at the time of writing is 3.3887 ether or 5620 USD. With a trading volume of 146,934 ether or 243,701,793 USD.
Meebits #17522 is the most expensive one to ever sell. It went for 1000 ETH (or 2.1 million dollars at the time). The character features a strange deformity on its face with three eyes and two noses. It combines 9 features, including a Bald hairstyle, black hat color, regular Pants, and more.
Meebits Acquisition by Yuga Labs
In March 2022, Yuga Labs, the creators of BAYC, bought the intellectual property rights for CryptoPunks and Meebits from Larva Labs. “This means that we now own the brands, copyright in the art, and other IP rights for both collections, along with 423 CryptoPunks and 1711 Meebits,” Yuga Labs stated
They immediately granted Meebit holders the same commercial property rights as those of BAYC holders, allowing them to use their NFT images for commercial purposes.
In July 2022, Yuga Labs added a 5% royalty on secondary sales of Meebits like those on Opensea and LooksRare.
To help keep this Meeb party going (and going and going), Yuga Labs will get a 5% royalty on secondary sales of Meebits (on OpenSea, LooksRare, etc) moving forward. This will begin rolling out immediately.
— Meebits (@MeebitsNFTs) July 28, 2022
The commercial property rights event also came with another announcement. Interoperability has been established with The Sandbox Game, allowing owners to play as their Meemees in the game.
Then, in October, the company launched a new activation. It provides sense into the project’s future and gives holders the option to claim free 1/1 prints of their NFTs. With the announcement, Yuga dictated that Meebits innovation will happen in phases, with these prints being part of the “MB1” phase.
“MB1 represents a beginning; the first chapter of this story. As the Meebits go adventuring, this evolving site will be your access to every experience along the way,” said Meebits Brand Lead Danny Greene via press release. “There will be nine releases to MB1, and a new site will be a launchpad for each new experience, activation, or opportunity.”
How to Buy Them
If you have a few thousand dollars to spare, the first thing you’ll need to do is head to the Meebits site. They have a gas-free exchange policy on their site that you can take advantage of for up to 100 NFTs. You can also use a secondary marketplace like Opensea.Either way, you’ll need to connect a Web3 wallet and you’re good to go.
With Yuga’s promise of innovation, the best thing to do regarding Meebits is to wait and see how the future of Web3 unfolds in the coming years. As integrated accessibility and readiness for the metaverse becomes a more desirable feature for other NFT projects, will things continue to evolve for PFP collections?