cryptopunks maker larva labs launches their new nft project, meebits
Introducing Meebits: Larva Labs' New NFT Project
The team responsible for the highly successful CryptoPunks NFT project has unveiled its newest creation: Meebits. This project features 20,000 uniquely generated 3D characters designed for trading on the Ethereum blockchain.
A Competitive 3D Avatar Market
Numerous platforms offering 3D avatar NFTs have emerged recently, all vying for the attention of cryptocurrency investors. However, the established reputation of Larva Labs, whose CryptoPunks have generated over $550 million in sales, positions Meebits for significant success.
Meebits is launching during a period of heightened interest in CryptoPunks, with a highly anticipated Christie’s auction expected to yield a sale price potentially exceeding tens of millions of dollars. This launch also coincides with a strong performance from Ethereum, which has consistently reached new all-time highs this week.
As of today, Ethereum is trading close to $3,300.
Features and Marketplace Enhancements
According to a blog post by Larva Labs, the intention is for Meebits to function as avatars within “virtual worlds, games and VR” environments. Beyond a refreshed artistic style, Larva Labs has implemented improvements to its no-fee marketplace.
A key enhancement is the introduction of customizable trades, enabling users to exchange Meebits with each other through more intricate arrangements.
Accessibility and Pricing
A previous analysis of Larva Labs’ CryptoPunks revealed the founders’ desire to make their subsequent project more accessible. Despite doubling the total supply – 20,000 avatars for Meebits compared to CryptoPunks’ 10,000 – Meebits are still expected to command a substantial price.
Dutch Auction and Initial Sales
The Meebits avatars are being distributed via a Dutch auction. This means the minting price will gradually decrease to 0 Eth (plus Ethereum gas fees) over a seven-day period.
Currently, minting a random Meebit costs 2.49 Eth, which translates to approximately $8,500 at the present exchange rate. Despite this cost, approximately 2,000 Meebits have already been sold, generating nearly $20 million in Eth for the creators within just over two hours of launch.
Lucas Matney
Lucas Matney: A Profile
Lucas Matney previously held the position of Senior Editor at TechCrunch. His work was centered in San Francisco, California.
Background and Role
As a Senior Editor, Matney was responsible for overseeing and contributing to the technology news coverage provided by TechCrunch. He played a key role in shaping the publication’s editorial direction.
His location in San Francisco placed him at the heart of the technology industry, facilitating access to important events and sources. This proximity was crucial for his reporting.
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Matney’s role at TechCrunch involved contributing to this coverage, ensuring the delivery of timely and insightful information to its readership.
Editorial Responsibilities
The responsibilities of a Senior Editor typically include managing a team of writers, editing articles, and developing story ideas. Matney’s position demanded a strong understanding of the technology sector.
Furthermore, the role required excellent communication skills and the ability to synthesize complex information into accessible content. He was instrumental in maintaining the quality of TechCrunch’s output.