GREED IS GOOD AND THESE TEES ARE GREAT: The Meebits Fully Embrace TokenWorks’ $MEEBSTR Token! Find Out More:

Greed is good, these tees are great, and the Meebits are cooking ever since the launch of TokenWorks’ Meebits Strategy coin!

 

In the five days since TokenWorks founder Rhynotic deployed his NFT Strategy coins across the Web3 world, the Meebits have leaned hard into the tokenization of their collection.

First, they used royalties earned from the coin to buy Meebit NFTs back from the $MEEBSTR token, which has led to the burn of 3.2% of the supply and pushed its market cap to $2.5 million.

 

 

Along with these strategic buybacks, the Meebits also embraced their $MEEBSTR holders, creating a special designation for them in the community Discord and further inviting them into the voxel fold.

 

Then yesterday, the Meebits dropped a limited edition Gordon Gekko inspired T shirt celebrating their $MEEBSTR buybacks!

Seventy five people minted shirts for 0.015 ETH each, and all proceeds were used to buy another Meebit.

 

 

"This is the “fun utility” pillar of our strategy,” Meebits CEO Sergito tweeted. “We’ll never be the degen collection but we’ll also never shy away from experimenting. Again, I’m very comfortable with this mint given folks are buying a shirt, it’s MeebCo who’s taking the financial risk from there. Meebits are art that’s fun and functional.”

 

 

As the Bored Ape Gazette previously reported, the MeebitsSTR token, like the tokens for Bored Apes, Pudgy Penguins, Moonbirds, and CryptoDickButts, runs on a smart contract that’s powered by a 10% trading fee where 8% goes to the NFT accumulation pool, 1% to the collection owner as royalties, and 1% to buying and burning $PNKSTR, according to TokenWorks.

As users buy these strategy tokens, the contract purchases the corresponding NFT once enough fees have accumulated. That NFT is then listed for 1.2× the floor price. When it sells, the proceeds are used to buy back and burn the token supply. No one controls these contracts, they run in perpetuity.

 

As of tonight, the MeebStrategy coin holds 31 Meebits and is already on its way to collecting enough fees for a 32nd, according to TokenWorks.

Take a closer look at the Meebits Strategy coin’s collection below:

 

The Bored Ape Gazette will continue to follow all things NFTStrategy and keep you posted on how Meebs and more keep these perpetual NFT buying machines running! Stay tuned for updates!