Have you heard about Meebits, another NFT initiative launched by Larva Lab after CryptoPunks and AutoGlyphs. Let’s dive in to learn about Meebits NFT.
If you’re NFTs or non-fungible tokens made a lot of noise in the early months of 2022. As a matter of fact, many people in the world came across the concept of NFTs and how they work in recent times. Different innovative NFT projects have successfully created disruption in next-gen technology.
As many companies are tailoring their services and products for developing a comprehensive, futuristic web3 landscape, projects such as Meebits have grabbed the attention of NFT enthusiasts. Created by the founders of CryptoPunk NFTs, the new project has been touted as an integral aspect of the metaverse.
So, what are Meebits NFT and how do they work? Why are they so popular in the present times? Let us find the answers to these questions in an introductory guide to Meebits and their governance.
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The Case for Non-fungible Tokens
Non-fungible tokens emerged as a revolutionary intervention with revised paradigms on asset ownership in physical and virtual worlds. You can represent a real piece of art in the physical world and exercise sole ownership over the artwork. No matter how many replicas of the artwork you find around the world, the ownership of the original artworks stays with you in the form of NFTs. The proposed uses of NFTs for representing real estate on blockchain platforms offer viable prospects for the growth in applications of NFTs. With every new NFT project, the tech community uncovers new opportunities for tapping into the functionalities of NFTs. Where do Meebits come into the picture and what role do they serve?
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What is Meebits?
The humongous explosion in the popularity of NFTs has been responsible for driving many tech startups and NFT developers to come up with their own projects. If you are an NFT enthusiast, then you must have heard about Larva Labs, the company behind CryptoPunks. The company takes credit for launching one of the oldest NFT projects, which garnered unreal attention in 2017. As a matter of fact, CryptoPunks initiated a new revolution in NFT art and brought many people closer to non-fungible tokens. The recent addition in Larva Labs projects, introduced in May 2021, has been the talk of the town. Why?
Meebits basically refers to a collection of 20,000 3D voxel characters, developed through a custom generative algorithm. All of the 3D characters are registered on the Ethereum blockchain. Another important highlight of the project, which validates their classification as NFTs, is the ERC-721 smart contract. The ERC-721 standard contract or the NFT contract can work with any supported exchange or service. Most important of all, the Meebits NFT contract also includes a custom marketplace for supporting like-kind trading. You can trade up to 100 NFTs in one transaction with like-kind trading. On the other hand, you can also find desired features for standard transactions with the NFTs.
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Special Highlights of Meebits
The basic answer to “What is Meebits?” paints the project as another addition among NFT art projects and collections. However, the NFTs are special in the existing tech landscape for their unique traits. Many of you must have assumed that a Meebit is more like CryptoPunks, with a slight variation. While both of them are NFTs and reflect on a form of art, they are considerably different. For example, Meebits are actually full-body 3D characters created through algorithms. All the characters have unique combinations of traits such as tattoos, shirt color, pant color, shoe color, necklace, hairstyle and other highlights. A close look at the design of Meebits NFT collection shows that they are voxels, which are more like the 3D representation of a pixel. Interestingly, the design of the Meebit NFTs signifies a promising indicator of the evolution of NFT art on Ethereum blockchain.
The Meebit project is a glorious achievement for the Larva Labs team. Following the launch in May 2021, the Meebit NFTs surged beyond the expected predictions. As a matter of fact, the quick sale around 9000 Meebits only within 8 hours of launching clearly shows a lot about their popularity. On top of it, the total sale value amounted to almost $75 million at that time.
Possible Uses of Meebits
The popularity of previous Larva Labs projects such as CryptoPunks presents a tough challenge for their latest project. Just like every new NFT project, you must be curious about the possible use of the Meebit NFTs. From the beginning, the Meebit NFTs have been tailored for offering the same experience of collecting valuable collectibles and trading them.
On the other hand, the Meebits don’t enjoy all the hype just because they are new in the market. As a matter of fact, the team of developers behind the Meebits NFT collection introduces many other use cases. For example, you can trade Meebit NFTs for other Meebit NFTs. Well, that’s the one use case you must have figured out already from the definition of the project.
If you think that Meebits are just another type of NFT which you can buy and sell for profits, then you need to think twice. Take the example of CryptoPunks and see how they have emerged as 2D avatars in the web2 landscape. Now, Meebits NFT collection could take over the role of CryptoPunks in 3D worlds of the metaverse. They can work as the perfect 3D avatars for the metaverse and the emerging web3 ecosystem.
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Some of the other uses which expand the answer to “What is Meebits?” include the following.
- You can render a 3D Meebit NFT in the form of 2D pixel art.
- Utilize them as profile pictures on your social media accounts and flaunt them as social status symbols within your network.
- Customize the 3D voxel characters according to your preferences.
- You can also use Meebits NFT as avatars on metaverse platforms such as Decentraland and the Sandbox.
- The Meebit project also offers owner tools such as a T-pose OBJ file, which offers the full 3D model. You can use the T-pose OBJ file for importing a Meebit into any standard 3D animation and modeling software. As a result, you can easily animate your Meebits and make them perform specific actions.
The promising use cases for NFT art with the Meebit NFT collection presents many favorable reasons to buy them. Interestingly, you can buy Meebits on OpenSea, the most popular NFT marketplace. However, the cost can be a huge barrier for anyone interested in purchasing Meebit NFTs. What are the reasons for high prices of Meebit NFTs?
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Why are Meebit NFTs Expensive?
The cost of Meebits NFT surged profoundly within a few hours of their launch. What could have been the possible reasons behind the same? The answer points towards three distinct factors such as,
- Brand affiliation
- Including CryptoPunks owners in the Meebit NFT release
The popularity of Meebit NFTs as one of the promising Larva Labs projects for the web3 ecosystem is a formidable reason for their high costs. However, the unique traits of each Meebit NFT alongside the association of a popular brand like Larva Labs drives their appeal in the existing NFT marketplaces.
Another significant aspect in the understanding of “What is Meebits?” draws governance into the equation. The Meebits DAO has been developed with a sole objective of facilitating vehicles to provide funding for innovative projects. The DAO includes two types of members such as voting members and non-voting members. Meebit NFT owners can mint their general membership NFT and join the Meebits DAO for addressing many governance procedures. First of all, the DAO allows access to the Meebit NFT community on Discord. In addition, membership of DAO allows the ability to participate in project or DAO governance. Most important of all, the DAO provides a reliable foundation for developing the future of the Meebit NFT collection.
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How to Buy Meebits NFT?
The overview of fundamental information regarding Meebits shows that they are promising additions to the emerging web3 landscape. If you are interested in buying Meebit NFTs, then you can do so with a few simple steps as follows.
- Configure your Metamask wallet, which offers support for NFTs and NFT marketplaces such as OpenSea.
- Connect your Metamask wallet to OpenSea and then browse through the Meebits OpenSea has on sale. You can purchase the desired Meebit NFT by following simple procedures on the OpenSea NFT marketplace.
- Pay adequate attention to the security of the Meebits NFT you buy on OpenSea. The best recommendation would refer to the use of hardware wallets, which leverage highly secure encryption techniques.
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The final impression regarding Meebits shows that they are revolutionary developments in the NFT landscape. Most important of all, the Meebit NFT collection also presents favorable prospects for digital representation in the web3 ecosystem. Moving away from 2D art, Meebit NFTs have spelled a new stage of evolution in NFT art generated through algorithms.
As of now, the Meebit NFT collection rides heavily on the factors of rarity and association with a brand that developed CryptoPunks. Most important of all, Meebit NFTs are probably one of the unique NFT projects with multiple use cases other than trading. Explore the details of the Meebit NFT collection right now.