CryptoPunks was not the only NFT acquired by Yuga Labs (BAYC) last week. Meebits was also a part of the blockbuster deal. Today we dive into the other NFT project YL bought. Covered: What is Meebits? Meebits Integrated Market Where & How To Buy? What is Meebits? Meebits are a collection of 20,000 unique 3D […] The post What is Meebits NFT? appeared first on CryptosRus.

What is Meebits NFT?

CryptoPunks was not the only NFT acquired by Yuga Labs (BAYC) last week. Meebits was also a part of the blockbuster deal. Today we dive into the other NFT project YL bought.

Covered:

  • What is Meebits?
  • Meebits Integrated Market
  • Where & How To Buy?

What is Meebits?

Meebits are a collection of 20,000 unique 3D voxel characters built on the Ethereum blockchain. Each of the 20,000 were created via a custom generative algorithm. Larva Labs are the creators behind these boxed-3D NFTs, famous for their creation of CryptoPunks. Just last week, Yuga Labs (creators of BAYC/MAYC) purchased the CryptoPunks & Meebits collections from Larva Labs in a blockbuster NFT deal. This deal will now give all IP rights to holders, just like Yuga Labs did with their BAYC/MAYC collections.

After the continued success of their Punks, Larva Labs released their follow up NFT on May 3rd 2021. As you could’ve guessed, all Larva Lab NFT holders were given a free Meebit. After the free reserved Meebits were allocated between CryptoPunk and Autoglyph holders, 9,000 were put up for public sale via Dutch Auction. The auction started at an impressive 2.5 ETH and sold out within 6 hours, which accounted for nearly 80 million dollars in sales for Larva Labs.

Meebit are avatars rendered in voxels, which are pixels with volume, creating “voxels”s. A simple, similar approach to their Punks, but with a nice entry into the 3D realm and for good reason. “We love low-poly and voxel 3D graphics” is quoted via their direct website and in the same sentence they mention Minecraft and Roblox, which these can remind you of.

They believe voxel art will prove to be timeless and endearing for generations to come and could become a staple in the Metaverse. Along with virtual worlds, these 3d voxels were designed to be interactive within games and VR, as well.

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Meebits Integrated Market

Another interesting feature Meebits has created for its holders, is its unique Marketplace. Their marketplace not only lets you perform swaps with ETH, but also with any number of Meebits on either side of the deal, plus some ETH, if you’d like. With this style of negotiating, it opens up many more possibilities and also offers easy off-chain discussions. The team at Larva Labs wanted to evoke the kind of collecting and vibe you felt when collecting items as a kid, where money was used less and bartering seemed to be more common.

Along with the unique trading/selling style, you save money on every transaction too. Just like the CryptoPunks marketplace, it is decentralized and Larva Labs charges NO FEES on any completed sale. Even better, trades only require signing a message with your wallet, so no Ethereum transaction is required, alleviating high gas costs for the seller. Only the buyer pays a “taker” gas fee. Meebits are created on a standard ERC-721, so they can also be found on popular marketplaces like OpenSea too.

Where & How to Buy?

Of course, these will all have to be found on the secondary market, you can choose to shop on their official Marketplace or ones such as OpenSea. As mentioned above, their marketplace is a trade style but is still open to the public. Their Meebits Marketplace link can be found here and their OpenSea official collection page can be found here. Both will require Ethereum and a wallet to perform the purchase/trade.

The day the news broke about the Yuga Labs acquisition, Meebits saw a huge surge in sales volume. On OpenSea alone, they had 953 sales and over 5,800 ETH in volume within 24 hours. Sales have slowed a bit as of late, but Meebits still holds an overall floor of 4.68 ETH at the time of this publishing.

Be sure to stay up to date with Yuga Labs Twitter, to hear all the latest news on their new Meebits collection and what else they have planned upcoming.

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The post What is Meebits NFT? appeared first on CryptosRus.