'Forward of Their Time': Meebits Ethereum NFT IP Bought as New Proprietor Reveals Bits Rewards – Decrypt

Possession of Meebits, the tokenized metaverse avatar IP launched by CryptoPunks creator Larva Labs in 2021, has modified fingers for a second time.The Meebit Firm (aka MeebCo), a brand new agency backed by crypto enterprise fund 1confirmation, introduced Friday that it has acquired the Ethereum NFT IP and assortment from Yuga Labs, the earlier proprietor and creator of the Bored Ape Yacht Membership.Yuga Labs had acquired the Meebits IP from Larva Labs in 2022 alongside CryptoPunks. MeebCo, which is led by CEO Sergio “Sergito” Silva, will oversee future improvement across the 20,000 Ethereum NFT avatars. It has additionally launched a rewards system known as Bits that goals to gas participation across the avatars.
2/ To kick issues off, we’re launching Bits, a participation-driven rewards system, and saying a partnership with @opensea, our official third-party market. Our purpose is to make Bits a significant and rewarding expertise for Meebit neighborhood members. All collectors,… pic.twitter.com/rbtGHAxVwN
— Meebits (@MeebitsNFTs) February 14, 2025“Steering an NFT undertaking to success takes imaginative and prescient, dedication, and a deep love for the neighborhood,” wrote Yuga Labs co-founder and CEO Greg “Garga” Solano on X. “Meebits couldn’t be in higher fingers with [Silva] and the workforce at MeebCo—excited to see them push the Meebs to new heights, and to see their plan for Bits unfold. Onward!”Phrases of the deal weren't disclosed, although Silva informed Decrypt that Yuga Labs may have a stake in The Meebit Firm. Yuga Labs didn't instantly reply to Decrypt’s request for remark.Meebits launched in 2021 because the NFT market growth was escalating, however whereas initially outstanding, the avatars haven’t had the enduring demand of Larva Labs’ authentic CryptoPunks, which nonetheless command a minimal worth of practically $100,000 on secondary marketplaces.Against this, Meebits at the moment begin at a worth of below $2,000 value of ETH on NFT marketplaces as of this writing, and that’s following a 69% worth spike after the acquisition was revealed earlier Friday. Meebits first bought for about $8,750 value of ETH when the preliminary sale started in Could 2021.Meebits have been designed for use throughout varied 3D metaverse platforms and video games, however the projected metaverse growth didn’t actually go as deliberate—a minimum of not but, Silva mentioned.”Meebits have been very forward of their time,” he informed Decrypt. “They simply have not had an opportunity to be appreciated.”Underneath new possession, MeebCo now provides Meebits holders and neighborhood members a possibility to earn Bits, a kind of factors awarded to assist drive engagement across the assortment. Factors programs in crypto are sometimes a precursor to an on-chain token launch and airdrop, although no such plans have been shared as of but.Based on an X thread, MeebCo will present Meebits NFT merchants with Bits in the event that they transact through outstanding market OpenSea, the undertaking’s most popular third-party buying and selling platform. Current Meebits holders may also be awarded retroactive Bits as soon as a portal platform launches within the coming weeks, plus Silva mentioned further methods to earn are on the horizon.”It is only a higher manner for folks to align themselves with the longer term that we're constructing,” he informed Decrypt. “If you wish to be part of the longer term [of Meebits], it is a great way to boost your hand by taking part with completely different activations that can provide help to accumulate Bits.”GG NewsletterGet the most recent web3 gaming information, hear immediately from gaming studios and influencers masking the area, and obtain power-ups from our companions.