At first sight, Meebits look like pixelated three-dimensional artworks coming straight out of the Minecraft universe – but a closer look at their dimensions is enough to make people realize their rarity.
So rare in fact that one among these three-dimensional Minecraft derivative models was worth a whopping 420ETH within 24 hours of its arrival in the metaverse. That is how Meebits arrived at the scene, with a bang and much interest from the NFT enthusiasts.
So are Meebits worth the investment? Read ahead as we answer such questions and speculate on potential Meebits NFT price predictions for future years.
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What are Meebits?
So, what are Meebits, and everyone from the NFT enthusiasts to game developers are drooling over it like crazy? Meebits have a simple concept behind them. These 20000 uniquely generated 3D voxels in ERC- 721 tokens on the Ethereum Blockchain came into existence in May 2021.
Since their launch, these NFTs have garnered the interest of the gaming industry and have been climbing the charts. And although there have been ups and downs in the market that has an influx of 3D voxel characters, Meebits is still going strong.
If you are still apprehensive about these facts, know this. The powerhouse behind the uber-popular BAYC, Yuga Labs, now owns Meebits and Cryptopunks. With this acquisition, Meebits ownership will follow along the lines of BAYC, where the NFT holders have exclusive commercial rights to them.
Blockchain is a rapidly changing but nascent enigmatic ecosystem, and its rapid changes cannot be understood by everyone. However, one can’t deny that this constantly modifying technology has bode well for the creators, NFT artists and those who seek to rarify their artwork to earn more.
As the NFT space is slowly becoming accessible to anyone, the ecosystem is now more driven to make NFTs that have more utility than just being a collection inside someone’s digital wallets.
And that’s the desire that the Meebits are counting on.
Meebits were launched in May 2021 by the great minds of Larva Labs, a team of developers that took the NFT ecosystem by storm with their creation Cryptopunks – one that used to be their flagship NFT.
While people went wild for the pixelated artworks of the Cryptopunks, the introduction of metaverses such as The Sandbox drove the developers to create new Non Fungible Tokens that would find utility in the three-dimensional virtual space.
That desire soon turned into a concept, and thus, in May 2021, 20,000 3D voxel artworks reminiscent of Roblox and Minecraft busted into the scene, known as the Meebits.
Meebits NFT are 3D Voxel Arts
Governed under the standard ERC-721 tokens, these NFTs are compatible with any service and exchange. Furthermore, to foster a sense of community and a business-like ecosystem within the space, Meebits have integrated a No-fee marketplace, a friendly, albeit complex exchange market that allows trading of up to 100 Meebits per transaction.
Carrying the perfect recipe to enter the metaverse from a 3D model to asset codes allowing the more niche NFT enthusiasts to add their own animations, Meebits have penetrated the blockchain industry in a big way. And the reason for their success is simple.
Unique artworks coupled with their utilities.
What are some utilities of Meebits?
Animating 3D models or turning them into 2D arts.
When you purchase a Meebit, you can access the 3D voxel artwork and additional asset packs.
These include a full three-dimensional model coming with a T post OBJ file. You can import this file to a standard 3D animation software and then animate the NFT in your own way. It is one aspect of Meebit that got the game makers most excited. Render your Meebit to participate in any metaverse or create a movie and upload it to social media.
As the Non-Fungible Ecosystem is all about attention, creating 3D animated videos is one way to garner interest on social media.
But that’s not all. With the available lossless and high-resolution renders, you can generate a 3D model of your Meebit. You can use those assets to create a 2D artwork of your 3D models – posting them online as profile pictures or anywhere else that you see fit.
As gaming Avatars in the most current and upcoming metaverses
Larva Labs’ primary ideal behind the creation of Meebits was for the users to use them as avatars in the “Virtual worlds, games and VR”. Hence, owners can put this NFT to use in various games.
“If Cryptopunks are ideal 2D avatars for Discord, Facebook, Twitter and other social media, we hope to make Meebits ideal avatars for the virtual worlds, games and VR.” – CryptoPunk developers.
With different rarities, these gaming avatars are unique – allowing gamers to boost their NFTs in virtual spaces like The Sandbox, Decentraland, and CryptoVoxels. The rarity determining attributes of these NFTs range from accessories, clothing, tattoos, hair, hat, beard and more.
Materializing the Voxels into the real world
As the bridge between the virtual and natural worlds is getting shorter, multiple NFTs have penetrated their way into the real world in different ways. They include artworks on T-shirts, toys, and in the case of Meebits, 3D printing.
Enthusiasts willing to turn their NFT into a tangible entity can use tools such as Shapeways to turn their .vox files into a Meebits toy.
All they need to do is upload their models to Magicavoxel, make certain adjustments to add more oomph to their Meebits, export the model as an OBJ file, compress the files into a zip format and forward it to Shapeways. Afterwards, it is only a matter of selecting the required size and material and submitting the print order.
When the first Meebits launched in 2021, the popularity of the developers, Larva Labs, drove the first 9,000 Meebits to be sold within eight hours for a whopping 22,500 ETH (75 million at the time). It was a conventional yet inspiring success story of the NFT market that simply states that as long as the developers are trusted, and the NFTs can enrich the lives (and the portfolios) of the NFT holders, there will always be a crowd to support a project.
That same ideology permeates through the entirety of the Meebits community. United by the desire to customize the 3D voxel artwork, the Meebits community came together and set up their own MeebitsDAO. With the aim to build a cross-platform metaverse for the Avatars, the Decentralized Autonomous Organization started investing in virtual real estate to have a place for the Meebits to socialize with each other in the metaverse.
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Meebits Price Right now
Both Meebits and CryptoPunks are among the most sought after NFTs on OpenSea and LooksRare Marketplaces. Meebits, 3D voxel characters generated with a custom generative algorithm, have the floor price of 5.07 ETH (14,867.17 USD) as of 14th March 2021.
It is a figure higher than when it entered the new year at 3. 288 ETH (9641), a time when it sold 6 NFTs in a single day. It is not so high of a figure.
Comparatively, the Meebtis NFTs were sold at 3.8 ETH 11,126 USD at the beginning of the first week of February 2022. However, it is slowly getting steam as of 20th March 2022, as 14 NFTs were sold by morning at the floor price of 6.23ETH. The last 24 hours Meebits NFT trading volume stands at USD 4,034,659 with 206 sales.
Ever since its introduction, the Meebits have gone through some wild fluctuations as far as trading is concerned. The NFT enthusiasts grew wary of their investment in the 3D voxel arts during the early days of March when on 3rd March 2022, the price dropped to 2.49 ETH (7,290 USD), a figure lower than what was on the first January 2022.
But the market is now getting back on track. The latest price of the NFTs stands at around 6.23 ETH.
Meebits are not unknown to wild fluctuations to the NFT figures. During its launch, Meebits suffered from an exploit that allowed one user to cheat the system and sell an ultra-rare NFT at a ludicrous 200ETH, a figure that even gives the likes of BAYC a run for its money.
But we can’t say for sure that the current statistics of the NFT is the result of many “re-rolling” their Meebits; after repeated incidences of many enthusiasts boasting the same exploit to enhance their wealth, Larva Labs decided to halt minting for a while.
Meebits floor price
The current floor price of a Meebits NFT is 6.23 ETH or USD 18,240.88, and in the past 24 hours, the trading volume has been 1,378.9 ETH or USD 4,0.34,659 from 206 sales. The price of the Meebits NFT has gone up by 15.37 % in the past 24 hours alone.
Meebits Price has been quite stable. However, recent it has seen an slant upward curve
The highest sale of the Meebits last week was 29 ETH, or USD 84,909.39. Currently, the project is ranking at #8 in the NFT floor price with a floor cap of 124,600 ETH. Its current listed ratio is 4.88 %, with a 10,000 maximum supply.
Definition of NFT floor price
To understand the concept of NFT Floor Price, it is crucial to clearly look at what an NFT is. It is a Non Fungible Cryptographic token depicting unique traits and thus having a unique value based upon the rarity of those traits.
Entities selling the NFT – the NFT suppliers – are crypto artists and sellers that sell crypto trends determined by the interest of the sellers and the community.
NFT floor price refers to the minimum cost of an NFT a buyer has to pay to own a particular token from an NFT collection. In other words, it is the lowest selling price of a collectible digital item – an NFT project – that’s updated in real-time. Those deciding the floor price of an NFT project are not the current market trends but the creators – listers – of that project.
The term floor price is used by economists to determine the lowest price paying which an article can be purchased. Within the NFT space, the term “floor price” emphasizes the popularity of an NFT project. As such, the current floor price of the Meebits NFT projects rests at USD 18240.88.
This is the least cost you must pay to own a Meebits NFT. However, if one thinks that the price is too steep, they can go lower than the floor price by making an offer. Even though the chances of that offer being accepted are low because it is the emotional investment of the community and the NFT owner deciding the floor price, the seller inclines to go lower if they really wish to let go of their 3D voxel artwork.
Meebits Price has been quite stable. Recently it has seen a slant upward curve
One might think that such an offer in a bullish market with an influx of overly confident creators is naïve, to say the least. However, the rapid changes in the market can lower the floor price even further – enough to motivate an NFT seller to go with the seller rather than waiting for the time that compels them to reduce the cost of their NFTs.
And it is not that the floor price is against an NFT customer either. Currently, the ceiling to enter the NFT market is too high to attract the attention of non-enthusiasts. It is a long-standing belief that an NFT crowd needs to be inclusive. Therefore, the addition of a bidding-driven floor price can bring more individuals to the fold.
Furthermore, performing NFTs with lower floor prices following this model can grow faster by leveraging the trust of the community when compared to the higher-priced mediocre-performing projects. If you are interested in buying NFT projects worth less than 1ETH, you can look at smaller NFT marketplaces such as crypto.com.
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Meebits Price Chart
The Utility and style of Meebits have made many NFT enthusiasts, many of whom come from a game development crowd, lunge at this NFT project. As a result, the Meebits are on a rapid upward trend at this movement.
Even though on March 3rd, 2022, developers got concerned over the lowest floor price that the NFT project has had to date, 2.49 ETH, the graph soon retook a rising path probably by the recent acquisition by Yugalabs.
Meebits NFT prices have grown rapidly over the past month. In the past two days, the floor price of Meebits NFT has gone from 4.23 ETH to 6.2 ETH.
The acquisition of Meebits and Cryptopunks by the Yugalabs, the giants behind BAYC, the biggest and the most exclusive NFT collection on the planet, was a rumor circling around the discord communities for many months.
Meebits NFT Price have grown rapidly over the past Month
However, on March 15th, Yugalabs proved those rumors to be true when it announced to Twitter that it now owned 1711 Meebits and 423 CryptoPunks. This acquisition promises the inclusion of new smart contracts – handing over the commercial rights of the Meebits to their respective owners.
This benefit comes after the core utility already present in Meebits NFT with their T-pose asset and the high-resolution downloads. It has allowed the NFT holders to add new levels of uniqueness to NFTs like never before. When combined, these factors are fuelling the current price of the Meebits NFT.
Price predictions for Meebits 2022
Yugalabs, after the acquisition of Meebits, have seen the floor price of BAYC shoot up by 18 %. With the introduction of new smart contracts to Meebits and CryptoPunks, we can expect the same for Meebits NFT. If the last two days are believed, the price can go even higher.
In the initial hours of 20th March 2022, the price of Meebit went up to 11 ETH, which was unfathomable when 2022 started, when the price was at a mere 3.8 ETH.
As the confidence around the NFT-sphere grows, the bull market will retake significant strides. It leads us to believe that shortly, the price of Meebits might reach up to 50 ETH.
While there is uncertainty around the crypto market because of the current situation between Russia and Ukraine, it is safe to say that a constant upward trajectory is possible for Meebits.
All we have to say about Meebits’ future is alloyed with pure speculation, even with everything we just said. However, with the DeFi on the trajectory to global acceptance and Metaverse and NFTs growing more ubiquitous than ever, we can extrapolate from their result and hope the same for the Meebits NFT project.
Yogalabs owning Meebits and Cryptopunks
The world of NFT space was in for a beautiful shock the day BAYC lords Yugalabs announced the ownership of Meebits and Cryptopunks from Larva Labs.
Even though both Cryptopunks and Meebits are among the top 10 NFT projects in the world, the enthusiasm behind them has been growing low for one simple reason –
Apprehension to hand over the complete commercial rights of the NFTs to the NFT holders.
It is no news that the community has been pretty loud about having the Intellectual Property Rights of the projects they own.
However, for all their expertise in the NFT space, Larva Labs is still a novice at understanding this aspect. Therefore, the developers decided to hand over the reins of their two flagship projects to Yugalabs.
And thus, Yuga Labs now owns 423 crypto punks and 1711 Meebits.
With that acquisition came an announcement – of new smart contracts for new and current Meebits and CryptoPunks holders that would give full commercial rights of the NFTs to them.
Why is the Meebits NFT getting so much traction in the market?
Currently, Meebits NFT stands at number 8 in the chart of the NFT floor price. With the lowest price being 0.17 ETC and the highest being 29.99 ETH, we can say the crowd has been growing wild over it.
It is happening even though there are detractors of the Non Fungible Tokens, blaming the ecosystem for creating a fraudulent environment.
However, because of Meebits NFT’s utilities and the strong community it has built, the Meebits has gained a lot of traction in the market. And its high value is justified by the immense utility it is bringing into the NFT ecosystem.
The 3D voxel artworks come with a load of different assets that users can manipulate have allowed the NFT holders to make the Meebits token their own. Additionally, the introduction of metaverses such as the Sandbox, CryptoVoxels, and Decentraland has enhanced the value of these tokens further.
And now that new smart contracts will be drawn by the new boss, Yuga Labs, holders can genuinely own their Meebits NFTs and leverage them in several metaverses and social media platforms.
How to buy Meebits NFT?
There are various NFTs and an almost equal number of NFT marketplaces to choose from. All of this can make purchasing an NFT a confusing matter.
Thankfully, for the newcomers to the crypto space, purchasing an NFT is not complex. Just follow the steps mentioned below.
Step 1 – Sign up on eToro
First of all, go to eToro.com and open your account. You would need to complete KYC and other formalities to begin and to take full use of your account.
Step 2 – Buy Ethereum on eToro
You can buy Ethereum through any online crypto exchange such as Bitstamp Huobi or Crypto.com, but we suggest visiting eToro as it is regulated by institutions such as SEC, CySEC, FINRA, among others.
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Step 3 – Open a crypto wallet
After buying Ethereum, you need to store it in your wallet so they are safer. By acting as a personal address in the Blockchain, the crypto-wallet is a secure wallet that, while everyone can see, can only be accessed by you.
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Step 4 – Buy NFT on the marketplace
Once you have a respectable amount of Ether, you can check out any NFT marketplace like Crypto.com or Opensea and purchase your NFT and then store them in your wallet.
Where is Meebits NFT listed for sale?
The Meebits NFT is listed in many NFT marketplaces for sale. However, the one worth your time among is the most popular of all, the opensea.io.
Login to the portal, connect your wallet and select the Meebits NFT you wish to purchase. You can either spontaneously choose “Buy now” or try your luck by placing the bid on the NFT of your choice – if you wish to pay lower than the price it is listed at.
After the transaction is complete, your NFT will enter into your wallet.
Meebits alternatives
If you want to enter the crypto-sphere but the floor price is too high, you can look at the several alternatives to Meebits. Some marketplaces deliver what we consider high-quality NFTs at auction prices that go as low as $1.
Following are the marketplaces that host such NFTs:
FAQs
What is a Meebits NFT?
Meebits NFT is an Ethereum based NFT collection comprising 20,000 unique 3D voxel Artworks developed by The Larva Labs.
How much do Meebits sell for?
The current floor price of Meebits NFT is 6.2 ETH.
Can you purchase Meebits NFT with Ethereum?
Meebits NFT exists on the Ethereum Blockchain, so you can purchase Meebits NFT on Ethereum.
How many Meebits NFT are in circulation?
There are over 20,000 Meebits NFT that are in circulation.
Which is the most expensive Meebits NFT ever sold?
The highest-priced Meebits NFT is Meebits #17522. Its value is 1000ETH – 2.9 million dollars.
