Cryptopunks development team’s third NFT project, Meebits, was snapped up at launch

Meebits was snapped up by the community gift + Dutch auction, and the highest price on the secondary market has been called at 303ETH

Cryptopunks development team Larva Labs’ third NFT project was finally announced on Twitter yesterday – Meebits.

According to Larva Labs’ official description, Meebits are 20,000 unique 3D voxel characters, created according to a custom generation algorithm and registered on Ether, with a contract standard of ERC-721 that can be used with any compatible service or exchange.

For holders of Cryptopunks and Autoglyphs, Meebits can be claimed for free, while the remaining Meebits will be sold at auction. Cryptopunks and Autoglyphs holders still have plenty of time to claim them.

Meebits are now flowing into the secondary market and are available for auction on Opensea. According to Nonfungible data, Meebits last sold for the highest price of 303 ETH.

Cryptopunks development team's third NFT project, Meebits, was snapped up at launch

What are these 3D voxel characters used for?
What exactly are Meebits? Why don’t you open the Meebits website and take a look ( Unlike the two previous NFT projects created by Larva Labs, Meebits is 3D and moves.

At present, Meebits is still a half-finished product. According to the official website, among the next features to be introduced, Meebit owners will have access to a packet containing a full 3D model, the freedom to render Meebit and animate it, allowing it to be used in any game engine, 3D studio or as an avatar in the metaverse (meta-universe).

Cryptopunks development team's third NFT project, Meebits, was snapped up at launch

Cryptopunks may be a cultural symbol or a collector’s item, but Meebits can be used by developers.

Larva Labs states on their website that they hope Meebits will become 3D avatars for virtual worlds, games and VR, and look forward to seeing how Meebits will be used in such environments.

Voxels are 3D extensions of pixels, and like pixels in 2D, voxels have a regular structure in 3D space, and the various neural network architectures available in the 2D image domain can be easily extended to take the form of voxels, but Larva Labs says the process of writing them is not easy, “writing a voxel character generators is more challenging and complex than writing 2D generators. We’ve been tinkering with voxel generation for several years and are proud of the end result. We hope you’ll notice the many little details, including the Autoglyphs-style tattoo patterns on some of the Meebits. There are also some cool rare types of Meebits, but we’ll wait for the community to discover them instead of listing them all here!”

The trade value of Meebits
Larva Labs has had varying degrees of success with Cryptopunks and Autoglyphs, and Cryptopunks’ success can definitely be considered a milestone. Meebits has more trade value than the two classical NFT projects mentioned above. It is not that Meebits has more transaction value, but Larva Labs designed Meebits with transactions in mind.

First Meebits was created with the ERC-721 contract standard and can be used with any compatible service or exchange. Secondly, Larva Labs also considered exchanging Meebits directly for Meebits without the need for other assets as a medium – this is written into the contract and is allowed to support similar transactions of up to 100 Meebits per transaction.

Notably, Larva Labs’ donations to the Cryptopunks and Autoglyphs communities, which it considers “generous,” have drawn the ire of some on Twitter.

Larva Labs believes that it is the support of the Cryptopunks and Autoglyphs community that has made the NFT marketplace what it is today, so Cryptopunks and Autoglyphs holders will each receive a Meebit (which will need to be claimed, excluding the GASS fee), and once claimed, these Meebits will be marked as Once claimed, these Meebits will be marked as already used and the claim will last for 7 days. It is worth noting that if Cryptopunks or Autoglyphs are purchased during the Meebits community donation period, the Meebits may have already been minted or used (so this is not really recommended).

Interestingly, excluding this portion of the community donated Meebits, the remaining Meebits are set to have an initial price and then, similar to a “Dutch auction”, the price will gradually drop to zero over the course of a week.

Although Meebits community donations and similar to the Dutch auction price reduction sales caused many Twitter users criticism, and thus the emergence of bearish mood. But the result really smells good, the public sale has been sold out. According to Twitter users, the initial price of the remaining Meebits was 2.5 ETH. and according to Nonfungible data, Meebits quickly occupied the top three of the 7-day market hot list (accounting for two seats), and the highest final selling price was 303 ETH (Meebits #8598) and 200 ETH (Meebits #564) respectively.

Cryptopunks development team's third NFT project, Meebits, was snapped up at launch

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