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$4.3 Million For 4 MeeBit Digital Collectibles

Posted by
Ian Kane

New Larva Labs NFTs are blowing up!

MeeBits, the third NFT collectible series by Larva Labs is on fire right now and some of these voxelized characters are selling for millions. In the last 24 hours, four sales on the secondary market generated over $4.3 million. 

Larva Labs, the studio that brought us CryptoPunks and Autoglyphs, communicated that owners of a Meebit will get access to an OBJ file. This will allow owners to render and animate their Meebits and then use them in a virtual world, for example. In short, Meebits are positioned to be voxelized avatars in the metaverse. 

These Meebits were originally sold for 2.5 ETH and the price slowly dropped until all Meebits sold out. However, not all 20,000 Meebits were sold. Only 9,000 sold through a Dutch auction. The remaining 11,000 went to CryptoPunks and Autoglyphs owners. Users who owned multiple punks can claim multiple Meebits simply by paying the gas fees. 

As a result, some of the most influential NFT collectors, like Gmoney and Pranksy, got an early start and created additional hype within the community. If you own a punk or glyph, claim your Meebit here

Buyers & Sellers 

Using the DappRadar Portfolio Tracker we can look inside the wallets of the buyer and seller of MeeBit #776 that sold for $1.3 million.

Firstly the buyer. At first glance, we see 28 Meebits with a value of over $2.2 million and 13 punks with a value of more than $1.5 million in this wallet. As mentioned, those people holding CryptoPunks and Autoglyphs were entitled to free Meebits. It appears this person has collected and is also buying up others in the expectancy of a price hike. Looking at the history of offers on Opensea also shows that the owner is rejecting or ignoring low offers and appears to be holding out. 

As we’ve seen already, the $1.41 million paid could turn out to be a shrewd investment if they can flip it for considerably more money quickly. Overall, with 65 NFTs and a combined value of over $3.8 million, we could consider this an NFT whale wallet.

The seller’s wallet revealed a collection of 179 Meebits but interestingly zero CryptoPunks or Autoglyphs indicating that this person was not entitled to any freebies, or that this wallet just represents their MeeBit NFT collection. One thing is for sure, with 179 MeeBits this wallet could be about to get a whole lot fatter should this person be looking to flip their MeeBit NFTs.

With NFT holdings like this, we would also consider this wallet holder a whale but certainly not the biggest! Check out this wallet with 281 punks and 257 MeeBits! 

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$75,000,000 in primary sales within approximately 8 hours
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