Meebits are a hot new type of non-fungible token (NFT) available to purchase. This guide will show you exactly how to buy one of these using OpenSea.
What Are Meebits?
These NFTs are made and distributed by Larva Labs LLC, the creators of CryptoPunks, which is one of the most popular NFT projects on the internet. Those interested in purchasing Meebits bid on them using an NFT marketplace called OpenSea. This marketplace purchases and sells NFTs using the Ethereum blockchain, another type of open-source blockchain.
Meebits characteristics include unique hairstyles, hats, shirts, pants, and shoes. They also have different skin and hair colors as well as accessories such as sunglasses and jewelry. Some of these 3D characters even have facial hair. There are also non-human Meebits NFTs, such as pigs, elephants, skeletons, robots, aliens (or “visitors”), and more.
Buying Meetbits can seem complicated, but this step-by-step guide will show you exactly how simple it can be.
How to Buy Meebits
Below you will find easy instructions explaining how to go about making a purchase of Meebits for yourself. For a more general NFT guide, check out our article on how to buy NFTs.
The initial step to purchasing your first Meebit is to buy the cryptocurrency called Ethereum. Ethereum is a decentralized, open-source blockchain and is second only to the cryptocurrency Bitcoin in terms of market capitalization.
Coinbase is one of the highest-rated exchanges on the internet where you can buy Ethereum. Currently, you can get a headstart on your cryptocurrency profile by using Coinbase, as the exchange offers a $5 promotional deal on Bitcoin when you sign up.
Other trusted exchange sites include Gemini and BlockFi. These sites are secure and great for beginners in cryptocurrency trading, offering tips and educational tools.
Once you select which exchange site you want to use, set up an account, and buy how much Ethereum you want, you’re ready for the next step.
Create a Web3 Wallet Using MetaMask
Next, you will set up a digital wallet. Web3 wallets are non-custodial, meaning you can store your digital assets without a middleman. This allows you to control your assets and means you are ultimately responsible for the security of your private information.
You get the best access to a web3 wallet by using an application on your mobile device because of the unique user experience it offers. These services are an excellent gateway to an array of other crypto-related applications that run on blockchains. One of the most popular of these services is MetaMask.
MetaMask is a great web3 wallet service that generates your passwords and keys directly on your device, so you stay in total control of the privacy and access to your data. Once you download MetaMask and set up your profile, you’ll be ready to move ahead.
Remember as you’re setting up your wallet that when you are prompted to create a secret backup phrase that this cannot be retrieved in any way. Write it down and keep it in a safe place!
Transfer ETH to Your MetaMask
Next, you will transfer your Ethereum to your MetaMask account. The steps are relatively simple. Once Coinbase alerts you that your Ethereum is ready to move (which can take 2-15 days depending on how you purchased the ETH), open MetaMask and click on “Account.”
From here, you will retrieve your Ethereum address ‒ similar to a bank account number ‒ and then select “Portfolio” on the Coinbase app. Click “Ethereum” and then “Send,” entering in the wallet address from MetaMask. Complete by clicking the prompts, and within minutes the transfer should have been sent from Coinbase to MetaMask.
Connect Your MetaMask to OpenSea
Now that MetaMask is funded with Ethereum, you will use an NFT marketplace such as OpenSea to purchase Meebits NFTs. OpenSea is the world’s first and largest of these NFT marketplaces.
Connecting OpenSea with your web3 wallet on MetaMask is quite straightforward. You will open the OpenSea website, and when logging in, you will be prompted to use your MetaMask account information.
Find the Collection on OpenSea
Next, you can open up the Meebits website to find which Meebit you would like to purchase, or you can go to OpenSea and type “Meebits” in the search bar.
Once you make your selection for which Meebit you want, click the “Make Offer” button. Meebits is on a bidding-style purchasing system, so you will make an offer to outbid any previous bids where applicable.
Approve on MetaMask
Once your bid is accepted, you will be notified by email. You will then proceed to checkout and finish the transaction using the MetaMask wallet.
Congratulations! You just successfully purchased your very own Meebit.
Frequently Asked Questions
Below you will find answers to many of the most common questions related to Meebits.
Who Owns the Most Meebits?
The Etherscan link address “0x4d8E16A70F38414F33E8578913Eef6A0e4a633b5” currently owns 346 Meebits.
Why Are Meebits so Expensive?
The average price of Meebits is partially related to the fact that they were created by the same organization, Larva Labs, that created one of the most famous NFTs, the CrytpoPunks. Because of the popularity of the CryptoPunks and the reputability of their makers, when Meebits were launched, there was quite a bit of buzz around them.
Larva Labs reserved free characters for CryptoPunks and Autoglyphs owners when launching Meebits in May of this year; the firm only released for public sale only 9,000 of the 20,000 characters created. Larva Labs sold the Meebits using a Dutch auction format, with each starting at 2.5 ETH. The Meebits sold out less than six hours later.
OpenSea reported the day after Larva Labs began selling Meebits that a single character broke the NFT marketplace’s highest sales record for a single item, being purchased for 420 ETH, which, at the time, was equivalent to more than $1.43 million.
Additionally, a limited quantity of Meebits was generated. This scarcity of availability also generated a buzz for people who are big fans of this style of NFT. This resulted in one of the biggest sales events for any opening day of an NFT and signals that Meebits are one of the hottest NFTs on the market.
Sales of Meebits increased significantly recently, with eight selling for $2 million or more. Larva Lab’s total Meebits collection currently has a value of more than $3 billion.
The Meebits marketplace supports buy, bid, and sell transactions that can involve complicated trades that include up to 50 Meebits on each side of the purchase.
How Many Meebits Are There?
There are tens of thousands of Meebits on the NFT marketplace. Currently, there are 20,000 of these collectible 3-D characters, which were designed by a custom algorithm.
So if you’ve been waiting to enter the world of Meebits sales, the hype is definitely noteworthy. These 3D avatars are known to sell fast, and the NFT market is hot right now, so if you’re interested, it might be wise to hop on the Meebits train and buy now.