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Meebits Trading Volume Up 225%

Posted by
Robert Hoogendoorn

A community battle with Bored Ape Yacht Club is rising within the metaverse

Trading volume for the Meebits avatars has increased 225% or $335,070 in the past 24 hours. It took 56 sales with an average value of more than $5,983. The increase in trading happens while the community ‘battles’ with Bored Apes over their position as a status symbol.

Even though the average price is below $6,000, one Meebit NFT has been the most valuable asset on the secondary market in the past 24 hours. Meebit #7470, one of the robot kind, sold for 59,87 ETH or more than $154,300.

The Meebits collectibles launched less than a month ago, and were free to those who already owned CryptoPunks or Autoglyphs. The rest of the collection sold through a Dutch auction, with a starting price at 2,5 ETH. So far Meebits have generated $66,92 million in trading volume, according to data from DappRadar.

Battle with the Bored Apes

In the past year CryptoPunks have laid the foundation for the concept of community-inclusive avatar NFTs. Those who own a punk automatically have a certain status symbol. Larva Labs dropped Meebits to those who already had punks. The Bored Ape Yacht Club project has taken a different approach and allowed anybody to mint Bored Apes by paying 0,08 ETH.

Interestingly, Meebits and Bored Apes Yacht Club launched around the same time. Amidst increased buying hype, signaled by the millions moving into Bored Apes, the community is picking sides. Even world-famous digital artist Beeple jumped in. On June 1st he chose Meebits over Bored Apes.

Beeple/Twitter (June 1st, 2021)

Collectors like Pranksy are also weighing in on Twitter, perhaps in a way to increase the value of their portfolio. He has 465 Bored Apes and 150 Meebit NFTs in his wallet.

NFT trader Gmoney.eth even labeled Pranksy as the true winner of the battle between Meebits and Bored Apes, because he ‘has been dumping his BAYC for the last 2 weeks’.

Recently Bored Ape Yacht Club has gained serious traction. Their active community has been spreading the gospel, resulting in $5,8 million in trading volume in the past 7 days alone. That’s up 663% from the week before according to the DappRadar NFT Overview.

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