The Meebits NFT collection breaches the $500 million mark as far as total sales go, making it the 13th-most purchased NFT collection.
Despite the reality of the bear market that is seemingly wreaking havoc in the cryptocurrency and NFT markets, some NFT collections continue to reach milestones. For instance, the Meebits NFT collection breached the $500 million mark in total sales, making the collection the 13th-most purchased collection ever. The said figure is roughly $10 million more than the massive The Sandbox NFTs made.
Other NFT projects in contention for highest sales volume include Axie Infinity, VeeFriends, Mutant Ape Yacht Club (MAYC), CryptoPunks, Bored Ape Yacht Club (BAYC), The Sandbox, and NBA Top Shot, among others.
Getting to Know the Meebits NFT Collection
The Meebits NFT collection comprises 20,000 voxels—3D creations where the artist creates figures from blocks. Voxels are very popular in Metaverses and are even where characters in The Sandbox are based.
Initially, the Meebits NFTs were released by Larva Labs, the same company behind the CryptoPunks NFT collection. However, in an unprecedented move earlier this year, Yuga Labs, the parent company of the Bored Ape Yacht Club NFT collection, purchased both CryptoPunks and Meebits.
Although the Meebits NFT collection has gone through tough times before reaching this milestone, the collection is widely credited for launching the 3D NFT avatar movement. That’s because before its inception, most NFT avatar projects were primarily rendered in 2D, as evident in the Cryptopunks collection.
It remains to be seen whether this latest milestone for the Meebits NFT collection will serve as fuel and fire up the collection back to where it once was. Its fate is in the hands of Yuga Labs since it is yet to decide what it wants to do with the collection.
Yuga Labs has a reputation for marketing NFT projects well, so perhaps by adding some utilities to the Meebits NFT collection, the latter might return to form. Its floor price is Ξ 4.3 or around $4,900 at this time of writing.
Some Meebits NFT Collection Sales Milestones
In its heyday, the Meebits NFTs enjoyed the same popularity that BAYC is enjoying presently. It fought BAYC for second supremacy in the NFT space in the summer of 2021. After Meebits’ launch in May 2021, there was a tremendous spike in the number of unique buyers. The rising sales volume led to 3,988 unique buyers and 12,972 transactions that, by the end of the month, Meebits’ sales volume ballooned to $143.29 million.
In August 2021, the Meebits NFT collection reached an all-time high average sales value. Before the month ended, the collection’s average sale value was $21,425.89, a 93% spike from May 2021’s $11,046.26. At month-end, the sales volume of Meebits was approximately $112.49 million.
Other remarkable months which significantly contributed to the collection’s overall sales were September 2021 ($30 million), January 2022 ($28.82 million), and April 2022 ($42.71 million). The collection enjoyed the highest sale over one year ago when it reached Ξ 700 or roughly $2.6 million. Moreover, its top five sales that amassed a total of $8.7 million in value had high rarity scores.
The Meebits NFT collection may be struggling in sales lately, but its having surpassed $500 million in sales is good news for those in the NFT community who have been looking only at red numbers. And as mentioned earlier, with Yuga Labs steering the project, it could start seeing better days and emerge as a top collection again.
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