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Larva Labs, creators of CryptoPunks non-fungible tokens (NFTs), announced the launch of a new NFT platform, Meebits, Ethereum-based 3D characters tradable on the blockchain. The platform consists of 20,000 uniquely created NFTs that aim to capture the market and ride with the current demand for these collectibles. Meebits are randomly generated NFT 3D avatars created using voxels (pixels with volume) which differs from the 2D pixelated CryptoPunks avatars. The team believes the Meebits platform is the ‘next big thing’ in the NFT marketplaces targeting CryptoPunks’ success, which has made over $550 million in sales collectively. According to a statement from Larva Labs creators, Meebits will serve as avatars for “online gamers, virtual worlds, and virtual reality” in the future. Adding to its 3D features, Larva Labs has also made changes to the no-fee marketplace whereby users and holders of Meebits have the ability to customize trades and exchange Meebits in more complex transactions. All of the 20,000 Meebits have been minted already, with a Dutch auction company facilitating the distribution of the 3D characters. Potential owners of Meebits raised an average of 2.49 ETH (or ~$8,000) to mint a Meebit at random. The Meebits will be stored in a file hash stored on a smart contract, similar to CryptoPunks. In the blog post, LarvaLabs co-founders Matt Hall and John Watkinson explained the storage process writing,
"Once all 20,000 Meebits have been minted, we'll release the file matching that hash on IPFS. This will contain all the attribute and voxel data for each Meebit, so they can live on in perpetuity.”The launch of Meebits comes less than a month after Larva Labs announced the auctioning of CryptoPunks at Christie’s auction house on 13 May during Christie’s 21st Century Evening Sale.