What are Meebits NFTs? A Highly Free Metaverse
Key Insights
- The Meebits are 20,000 unique 3D voxel characters, created by a custom generative algorithm, registered on the Ethereum blockchain;
- For Meebits, like any NFT PFP project, the holder can get a rendered 2D image that can be used as a profile image of any website;
- Meebits reached their highest trading volume in history on April 27, when BAYC’s co-founder @GordonGoner tweet was released;
- Holders can use the image for his own commercial creation and transaction;
- YugaLabs also stressed that CryptoPunks and Meebits holders will soon be granted the same business rights as BAYC and MAYC holders;
- Community members focus on floor price and future Meebits utility.
Recently, the hottest event in the NFT world has been Otherside, a metaverse land project.
Otherside was released by Yuga Labs, the parent company of BAYC.
Just when people were crazy about it, BAYC’s co-founder @GordonGoner went off-topic and announced a piece of heavy news that made him and the whole team feel “very excited”:
“Took my first week off in forever a little while back. Found myself writing out ideas for @MeebitsNFTs utility the entire time. Big things take time, but the whole team is really excited to start working on Meebits when the Otherside launch is through.”
@GordonGoner mentioned Meebits, another NFT project acquired by Yuga Labs. This Tweet not only ignited the enthusiasm of social media but also ignited the enthusiasm of NFT investors. Meebits reached their highest trading volume in history on April 27, when the tweet was released.
According to NFTGo.io data, the floor price of Meebits after being mentioned has increased by 31.99% in recent 24 hours, up to 7 ETH, and the trading volume of Meebits has increased by 61.65% in 24 hours, up to about US $17.2 million.
At that time, players were full of enthusiasm for the metaverse and were looking for a suitable point to enter the metaverse ecosystem built by Yuga Labs. @GordonGoner’s tweet also aims to promote players’ attention to Meebits NFT and make it an entry point into the “Ape Universe.”
What Are Meebits and Why Are They Exciting?
The Meebits are 20,000 unique 3D voxel characters, created by a custom generative algorithm, registered on the Ethereum blockchain. The NFT contract that governs ownership is a standard ERC-721 that works with any compatible service or exchange. Also included in the contract is a custom marketplace that supports like-kind trading of up to 100 Meebits per transaction, along with all the standard buy, bid and ask transactions. Market and pricing data, as well as a web interface for the trading system is available at meebits.larvalabs.com.
These characters can not only be used as avatars and identity symbols, but also freely join virtual worlds such as VR, AR, and metaverse so as to become the digital avatar of the holder.
As the third project of Larva Labs after CryptoPunks and Autoglyphs, Meebits inherits many character traits of CryptoPunks (locomotive head, sunglasses, headphones, etc.) It also continues Autoglyphs’ love for Generative Art, coupled with the iconic pixel style, which helps give it that iconic Larva Labs style.
Meebits began minting on May 4, 2021, with a total collection of 20,000. The first batch of 9,488 goes to public auctions, leaving 10,512 drops to CryptoPunks and Autoglyph holders. After adopting the Dutch auction, Meebits sold out within 8 hours of going online.
Meebits were first noticed as a 3D version of CryptoPunks, but in the design of characters, rarity, and application scenarios, Meebits is much more complex than CryptoPunks, and even has many upgrades, which is also its value-added.
First, for Meebits, like any NFT PFP project, the holder can get a rendered 2D image that can be used as a profile image of any website. However, the great value of Meebits is that it is not just a normal PFP NFT, but an overall character from head to toe.
Having a Meebit means having a complete 3D character, and each NFT is also equipped with T-pose OBJ files to help holders import their Meebits characters into 3D animation software. It can even be used as a 3D printing model, allowing the holder to get 3D Meebits in reality.
Meebits are inspired by the metaverse world that Larva Labs wants to extend to. Therefore, the holder can import the Meebits character as a model into any metaverse. Having Meebits is equivalent to having a pass card for an open metaverse world. At the same time, due to its acquisition by Yuga Labs, Meebits has also become a ticket to the top metaverse project with independent ecology such as Otherside.
In essence, unlike other NFTs that can only act as a PFP but can not interact, Meebits can be imported into 3D animation software to produce specific stories.
Meebits have seven types. The higher the rarity, the greater the value: human (18,881), pig man (711), elephant (256), robot (72), skeleton (57), alien (18), and dissected (5).
Meebits also has a decentralized market like CryptoPunks, which does not charge royalties for transactions on its own platform. This also makes Meebits one of the most famous royalty-free NFT collections.
Although Meebits can also be traded on platforms such as Nswap, users can customize the trading scheme on Meebits, such as trading a rarer and higher value Meebits by packaging 10 Meebits. Moreover, it is more cost-effective to trade in the Meebits market, which further promotes the circulation of Meebits.
What Is More Brilliant Than Yesterday Is Today’s Meebits and Tomorrow’s Meebits
What we have described above is the aura and value of Meebits, but for Meebits, a stronger driving force for value rise comes from its new owner, Yuga Labs.
Just as the enabling speech of @GordonGoner on April 27th brought rise to Meebits, the acquisition on March 12th this year also opened a new door to Web3 for Meebits.
On March 12th, YugaLabs announced the acquisition of the IP of CryptoPunks and Meebits NFT owned by Larva Labs. This acquisition includes the brands, art copyrights, and other intellectual property rights of these two NFT collections, 423 CryptoPunks and 1,711 Meebits.
At the same time, YugaLabs also stressed that CryptoPunks and Meebits holders will soon be granted the same business rights as BAYC and MAYC holders. This broke the value and development ceiling of CryptoPunks and Meebits, and made the two projects once jailed in the web2 world glow.
Why?
We all know that Larva Labs is the pioneer of NFT PFP projects. Therefore, at the beginning of the creation of these two projects, it adopted the NFT License first drafted by Dapper Labs. The holders of the NFTs will not automatically obtain the commercial copyrights but will be subject to many restrictions in the agreement.
But BAYC, which was born in 2021, is different. Its holders have all the commercial rights of NFTs and can use their own NFT images for any purpose, such as making merch, developing the metaverse, games, and brand promotion. This strategy makes the holders have a greater sense of identity for their NFTs, and also deepens the consensus of the community. Finally, Yuga Labs with BAYC as the core has established a complete ecology for Web3 and the metaverse.
After purchasing BAYC, the holder can use the image for his own commercial creation and transaction
Therefore, after Yuga Labs acquired these two IPs, Yuga Labs immediately released their business rights and values. Only after users have more freedom can they expand the boundary of IP and get closer to the decentralization ideals of Web3. The combination of pioneers and innovators makes the value of Meebits rise. After the news of Yuga Labs’ acquisition was released, the floor price of Meebits soared by 60% to 6.5 ETH.
In the next two months of development, Yuga Labs also fulfilled its promise to make Meebits better and better. In terms of price trends, after the acquisition of Meebits, its trading price has produced multiple peaks, and the whole price chart is still in an upward trend.
Meebits is positioned as the metaverse NFT. Now joining Yuga Labs, Meebits will surely receive more attention and value in the heavy Otherside metaverse. As predicted by @GordonGoner, the co-founder of BAYC, he and his team are injecting new code and patterns into Meebits.
Will Meebits play a major role in the Otherside?
Will Meebits carry more engagement of the Otherside metaverse?
Will Meebits provide holders with more first-hand resources of the Otherside?
……
Maybe we can see the answers to these questions soon.
