It has always been on the cards since the announcement of its acquisition of Crypto Punks and Meebits NFT collections in March 2022 and the poaching of Davis Noah from Christie’s. Now it is finally here as Yuga Labs adds 5% royalties to the secondary sales of all Meebits NFT collections. With this move, CryptoPunks has become the only popular NFT collection with zero secondary sale royalties attached to it.
Yuga Labs is known to be the mastermind behind the creation of the most valuable NFT collection around, the Bored Ape Yacht Club. In March, it completed the acquisition of both Crypto Punks and Meebits collections, Immediately granting holders the rights to commercialization of their NFTs.
The Announcement
Making the announcement via the official Twitter handle of Meebits, the Meebits team announced that the secondary sale royalties will go into force with immediate effect on all secondary marketplaces such as OpenSea, LooksRare, and others.
Although stated in no uncertain terms, the team included in the announcement that the royalties are aimed at “growing the meeb magic…as it has been working behind the scene to put together an incredible team for the meeb including some creative thinkers and some die-hard meeb community members”...
Source: @MeebitsNFTs on Twitter
What’s in the Making?
The specifics of the discussions and ongoing developments were not made available, however, it is expected that the developments will further promote the core values of the Meebits community as it will center around tech minimalism, and interoperability
Source: @Meebits on Twitter
The Yuga Labs Magic
Yuga Labs has established itself as a major player in the NFT space, transforming its collection, Bored Ape NFT into the most valuable collection. A collection that minted at $200 in April 2021 has since risen to a peak price of $435,000, while seeing adoption from top stars such as Justin Bieber, Jimmy Fallon, and Paris Hilton, among others. With its latest move, it has only become clear that it is on the path to making both Crypto Punks and Meebits much more than just another NFT collection.
Keeping mum on its developmental plans for Meebits, while insisting that its 5% royalties will power its experimentations and building process only shows how grand upcoming announcements on Meebits could be. If there is one thing though, it will be that Yuga Labs always hold the masterstroke.
Final Thoughts
Having seen what Yuga Labs is capable of doing, we can only think that 5% royalties are a small price to pay compared to the huge developments coming to Meebits in the near future. Indeed, Meebits NFT is coming of age.
