'Ahead of Their Time': Meebits Ethereum NFT IP Sold as New Owner Reveals Bits Rewards

The Meebits, a collection of 20,000 unique 3D voxel characters launched by Larva Labs in 2021, have undergone a significant transition in ownership. Initially acquired by Yuga Labs in March 2022—alongside the CryptoPunks collection—Yuga Labs has now transferred the Meebits intellectual property to The Meebit Company (MeebCo), a new entity supported by the crypto venture fund 1confirmation. Sergio “Sergito” Silva, serving as the CEO of MeebCo, will oversee the future development of the Meebits collection.

In conjunction with this acquisition, MeebCo has introduced a rewards system named "Bits," designed to enhance community engagement and incentivize participation within the Meebits ecosystem. While specific details about the Bits rewards system are forthcoming, the initiative aims to foster a more interactive and rewarding experience for Meebits holders.

Yuga Labs' co-founder and CEO, Greg “Garga” Solano, expressed confidence in the new direction for Meebits, stating that the collection is in capable hands under Silva and the MeebCo team. This transition reflects Yuga Labs' strategy to focus on its core projects while entrusting the Meebits IP to a team dedicated to its growth and innovation.

The financial terms of the deal have not been publicly disclosed. However, it has been confirmed that Yuga Labs retains a stake in The Meebit Company, indicating an ongoing interest in the project's future success.

This development marks a new chapter for the Meebits collection, with MeebCo poised to explore fresh opportunities and initiatives to elevate the Meebits brand within the NFT and broader digital art communities.

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