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NFT Resales Reach $3 Million!

CryptoPunks launched Meebits, and NFT resales surpassed $3 million.

Larva labs seems to imitate the success in the NFT market through Meebits.

The two-man development team behind the famous CryptoPunks NFT series, Larva Labs announced a new set of NFTs named Meebits.

Meebits are 3D avatars created in voxels – pixels with volume. They are algorithmically generated, and are attached to NFTs on the Ethereum blockchain, it means that standard ethical concerns apply.

Having blocky arms and cuboid heads, Meebits might resemble the 3D character from Minecraft or Roblox.

NFT resales

“We think that, just like 8-bit pixel art, the minimalism and accessibility of voxel art will prove timeless and endearing for generations to come,” the developers wrote in a press release.

Who Are Larva Labs?

Matt Hall and John Watkinson are the founders of Larva Labs; they started CryptoPunks in 2017 before the CryptoKitties phenomenon. The icons have become a hot asset in crypto’s new craze. There is a Twitter bot that is tracking transactions of CryptoPunk.

Free Meebits can be claimed for those who already own one of Larva Labs’s NFT for the next seven days. Those Meebits that aren’t claimed will be sold straight from the company. As of now, these NFTs have generated 1,120 ETH in sales on the resale market. It is over $3.7 million at today’s prices.

NFT Success On its Way!

One of the problems of CryptoPunks is scarcity, for there are only 10,000 total CryptoPunks even with double of the supply. Meebits are their way to success for one is already sold for $675,000 early today.

CryptoPunks project has gathered over $550 million in gross sales and Meebits can be another hit. It arrives in time of peak hype for its first effort. CryptoPunks is just weeks away from Christie’s public sale that many are expecting to see an outcome of millions of dollars. It also arrives as Ethereum has one in all its greatest weeks on file, reaching all-time highs on a daily basis this past few weeks. Ethereum is now trading at $3,352.29.

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