Owned by Meebits, the Tokenized Metaverse Avatar IP launched by Cryptopunks Maker Larven Labs in 2021, has changed ownership for the second time.
The Meebit Company (AKA Meebco), a new company supported by Crypto Venture 1 Contrature, announced on Friday that it has taken over the Ethereum NFT IP and Collection from Yuga Labs, the previous owner and maker of the Bored Ape Yacht Club.
Yuga Labs had taken over the IP from Larve labs in 2022 alongside cryptopunks. Meebco, led by CEO Sergio “Sergito” Silva, will supervise future development around 20,000 Ethereum NFT Avatars. It has also launched a reward system called BITs that aims to feed the participation around the Avatars.
2/ To start things, we launch BITs, a participation -driven remuneration system, and we announce a partnership with @OPENSEA, our official external marketplace. Our goal is to make Bits a meaningful and rewarding experience for members of the MeeBit community. All collectors, … pic.twitter.com/rbtGHaxvwn
– Meebits (@MeBitsSNFTS) February 14, 2025
“Sending an NFT project to success takes vision, dedication and a deep love for the community,” wrote co-founder of Yuga Labs and CEO Greg “Garga” Solano on X. “Meebits could not be in better hands with [Silva] And the Meebco team – moved to see them push the Meebs to new heights and see their plan for Bits unfold. Furthermore! “
Conditions of the deal were not disclosed, although Silva said Decrypt That Yuga Labs will have an interest in the MEBIT company. Yuga Labs did not respond immediately DecryptThe request for comments.
Meebits launched in 2021 when the NFT market tree escalated, but although initially prominent, the Avatars did not have the lasting demand of the original cryptopunks from Larvenlabs, which still have a minimum price of almost $ 100,000 at secondary market places.
Meebits, on the other hand, are currently starting with a price of less than $ 2,000 in ETH at NFT marketplaces from this letter, and that follows a price peak of 69% after the acquisition was unveiled earlier on Friday. Meebits sold for the first time for about $ 8,750 to ETH when the first sale started in May 2021.
Meebits are designed to be used on various 3D metaillse platforms and games, but the projected metaille tree did not really go as planned – at least not yet, Silva said.
“Meebits were far ahead of their time,” he said Decrypt. “They just had no chance to be appreciated.”
Under new ownership, Meebco now offers Meebits and members of the community the opportunity to earn bits, a kind of points that have been awarded to help stimulate the involvement around the collection. Points systems in Crypto are often a precursor to a launch on chains and AirDrop, although such plans have not yet been shared.
According to an X-Thread, Meebco Meebco will offer NFT traders Bits if they take transactions through a prominent marketplace OpenSea, the desired trading platform of the project of the project. Existing Meebits holders will also be granted with retroactive bits as soon as a portal platform is launched in the coming weeks, Plus Silva said that extra ways to earn are on the horizon.
“It’s just a better way for people to adapt to the future we are building,” he said Decrypt. “If you want to be part of the future [of Meebits]It is a good way to raise your hand by participating in different activations that help you collect bits. “