launched in 2017, CryptoPunks were one of the earliest examples of one NFT crypto collectible; a series of 10,000 pixel art profile pictures (PFPs) with randomized features.
They proved to be a resounding success that NFT enthusiasts paid for tens of millions of dollars for the 24×24 pixel images of monkeys, aliens and zombies. But for the creators of CryptoPunks, Larva Labs, that was just the beginning.
In May 2021, Larva Labs returned with another, Meebits ether-based PFP-NFT project with double supply and additional dimension.
What are Meebits?
Like CryptoPunks, Meebits are a set of NFT characters with randomly generated traits. However, there are some differences; Unlike their two-dimensional progenitors, Meebits are 3D characters rendered in voxels (so-called because they are pixels with volume), and there are 20,000 Meebits in total.
Of the 20,000 Meebits, 18,881 are humans, 711 pigs, 256 elephants, 72 robots, 57 skeletons, 18 visitors, and 5 dissected (think skinless humans). Visually, Meebits resemble characters from games like Minecraft or Roblox – and therein lies the key selling point.
Meebits and the Metaverse
Larva Labs is betting that the 3D models that make up its Meebits will play a crucial role in their sprouting metaversea persistent, shared virtual world where users interact with avatars.
While some big tech companies are building centralized metaverses where they control all virtual assets on the platform, Larva Labs and other Web3 pioneers hope to build a truly decentralized metaverse where users own virtual assets in the form of NFTs that are migrated between them can use different metaverse platforms.
Therefore, the possibility of owning a 3D model of your own virtual avatar is a compelling prospect — at least one compelling enough to push the project to total sales of $515 million and a reserve price of 4.4 ETH in August to be shot in 2022, according to data from CryptoSlam.
When you buy a 3D model of one of his blocky voxel characters, you also get the entire 3D model and a high-resolution rendering of your Meebit. You can port this directly into any Metaverse project that supports it – although few currently do.
Although the Meebits look different, they have one thing in common: They are invariably expensive. However, some Meebits, especially the rarer ones, are more expensive than others. Meebit #6337, an algorithmically generated 3D skeleton in a suit, sold for about half a million dollars at a Christie’s auction in September 2021.
The 3D NFTs are traded as Ethereum ERC-721 tokens on a proprietary marketplace with no fees, but you can also trade them on any Ethereum-based NFT marketplace like OpenSea.
Meebits and Yuga Labs
In March 2022, Yuga Labs, the creators of the Bored Ape Yacht Club NFT project, bought the intellectual property rights for CryptoPunks and Meebits from Larva Labs. “This means we now own the trademarks, copyright of the art and other IP rights for both collections, along with 423 CryptoPunks and 1711 Meebits,” Yuga Labs said in a blog entry.
Some big news for today: Yuga has acquired the CryptoPunks and Meebits collections @LarvaLabs, and first, we’re giving full commercial rights to the NFT owners. Just like we did for BAYC and MAYC owners. pic.twitter.com/lAIKKvoEDj
Yuga Labs’ first step was to grant owners of Meebits the same commercial ownership rights as owners of the Bored Ape Yacht Club. This license allows anyone who owns the NFT to use the images contained within for commercial purposes. Apart from that, Yuga Labs acts as the custodian of the Meebit brand and will encourage its development. Yuga also bought 1,711 Meebits.
In July 2022 Yuga added a 5% royalty on secondary sales of Meebits, such as B. at OpenSea and LooksRare to “help keep this Meeb party going (and going and going and going)”.
Yuga didn’t reveal what else he’s building for the project, but said his vision “centers on taking the currents that are already at the core of the community — play, DIY experimentation, technical minimalism, and interoperability — and upvoting them .”
How to buy a Meebit
nobody tells you should Buy a Meebit – but if you’ve got a few thousand bucks to spare, here’s what to do.
To use the gas free exchange on the Meebits website, the first thing you need to do is go to the Meebits website. You can also buy your Meebits through a secondary marketplace like OpenSea. The difference is that Meebits does not charge any fees for trading on its marketplace for transactions of up to 100 Meebits.
In any case, check which ones are on sale and connect a Web3 wallet, e.g MetaMask, to the place. For example, a pig with an adorable pair of headphones (Meebit #5979) is currently being sold on OpenSea for just under $95,000.
You cannot bid for the NFT against other OpenSea bidders on the Meebits marketplace – you need to go to OpenSea for that – but you can exchange it for ETH or another Meebit in the Meebit trading terminal.
There you can set an expiry date for your offer and send it to the owner to see if they bite. If this is the case, you will lose everything you give up in your trade and receive the Meebit in your wallet.
Once the Meebit is in your wallet, you can do whatever you like. For example, you could set it as your Twitter profile picture. As of August 2022, Meebits are not supported by any major Web3 games, but the voxel animation file is available for you to play.
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