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  • Writer's pictureKyle

Yuga Labs Teased Upcoming Utility For Meebits. Here's What We Know:

Yuga Labs teased upcoming utility for Meebits and said that it will be taking a royalty on sales going forward in a six-part Twitter thread.

“Hmm what does this ON button do? Let’s find out,” Yuga Labs tweeted from the Meebits main account.

In the six-part thread Yuga Labs explained that the company has been working behind the scenes on the Meebits project and that the company has already put together to Meebits team.

“Behind the scenes, we’ve been hard at work — lurking, discussing, experimenting, building, mumbling about voxels in our sleep," Yuga Labs tweeted. “We’ve also put together an incredible team for the Meebs, including some brilliant creative thinkers and some die-hard Meebits community members.”

To fund Yuga Labs future plans for the Meebit project, the company announced that it will be receiving a 5% royalty on Meebit secondary sales going forward.

“So what are we building? While we can’t get into specifics (we like surprises),” Yuga Labs tweeted. “Our vision for Meebits centers around embracing the currents already core to the community – play, DIY experimentation, tech minimalism, and interoperability – and dialing them way up.”

After the Meebit announcement, Yuga Labs Co-founder Gordon Goner tweeted that he is looking forward to working on Meebits. “Stoked to work on the future of Meebits with the incredible team we’ve put together at Yuga,” he tweeted.

As the bored Ape Gazette previously reported, Yuga Labs acquired Meetbits and CryptoPunks from LarvaLabs on March 11th, 2022.

“Today we’re excited to announce that Yuga has acquired the IP of the CryptoPunks and Meebits NFT collections from Larva Labs," Yuga Labs wrote in a press release at the time. “This means that we now own the brands, copyright in the art, and other IP rights for both collections, along with 423 CryptoPunks and 1711 Meebits.”

Shortly after Yuga Labs purchased the Meetbits and CryptoPunks IP from LarvaLabs, Yuga Labs gave Meebit and Punk holders their full IP rights.

“As a first step, we will soon be granting CryptoPunks and Meebits holders the same rights that BAYC and MAYC owners enjoy,” Yuga Labs said in a press release. “We’re working with our legal teams to draft the new terms and conditions for both collections and expect to share these with the community soon. By handing over these rights, we’re further aligning CryptoPunks and Meebits with the web3 ethos, and we expect a wide range of third-party developers and community creators to incorporate CryptoPunks and Meebits into their web3 projects. We’ll be building the overall brand right alongside them.”

The Bored Ape Gazette will continue to cover Meebits and let you know when more information becomes available.

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