thecoinrepublic.com
- $NFT Meebits witnesses significant attraction from enthusiasts in the industry
- Larva Labs is the creators of the algorithmically generated 3D avatars
- Scarcity makes the tokens expensive, although the supply of these tokens are double than of CryptoPunks
- Buyers are paying about 2.49 $ETH to mint one random $NFT
$NFT Meebits are algorithmically generated third dimensional characters. These 3D characters are linked to NFTs on the Ethereum blockchain. These NFTs are rendered in pixels with volume(voxels), similar to characters from popular games like Minecraft. NOtably, these Non-Fungible Token characters can be used as metaverse avatars, in games, and virtual reality (VR). It is also worth noting that the project has issued about 20k unique 3D voxel characters. Indeed, such characters are registered as Ethereum ERC-721 standard tokens. The tremendous performing project is created by Larva Labs, the firm behind the most popular CryptoPunks project.
Who created Meebits $NFT?
Larva Labs, the two-man development team behind the wildly popular CryptoPunks digital collectibles is also the creator of Meebits NFTs. Matt Hall and John Watkinson, the two names behind the Larva Labs came up in 2017 with the idea of CryptoPunks. The two following the popularity of CryptoPunks, introduced another series of 3D avatars entitled “Meebits”.
Why are $NFT Meebits so expensive?
It is noteworthy that 100s of 3D avatar NFTs are popping up over the past several months following the craze for such crypto tokens. Each of such projects hope to gain momentum and capture the enthusiasm of cryptocurrency buyers. However, the attraction towards the Larva Labs team, whose pixel portrait CryptoPunks project has netted over $550mn is likely to make the platform another hit.
The Meebits art emerged as the Non-Fungible Tokens industry peaked hype for their first effort of CryptoPunks. Notably, CryptoPunks are observed being popular due to scarcity, as the supply was only 10k. However, it is incredible to witness that Meebits with double the supply is also performing tremendously.
How much are $NFT meebits worth?
Larva Labs is distributing the meebits avatars through a Dutch auction. The measure will help the price for buying and minting the $NFT Meebits stay lower to about 0 Ether. At press time, the buyers of the project are paying about 2.49 $ETH to mint one random $NFT. However, about 2k of such tokens have already been sold, which resulted in the creators pulling in about $20 million worth of $ETH.
Ultimately, it seems that the NFTs are poised to still be an expensive affair. Over the past 30 days, we have observed that Meebit 532 is one of the most expensive tokens sold for $107,000. In contrast, Meebit 4169 was sold for a minimum price of $23.8k.