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  "title": "The Meebits",
  "note": "This new [NFT](https://en.wikipedia.org/wiki/Non-fungible_token) project launched this week from [Larva Labs](https://larvalabs.com), who also created the famed [CryptoPunks](https://larvalabs.com/cryptopunks). The CryptoPunks are now selling for over $1M in some cases, so the launch of a new project from this team is a big deal.\n\nThe Meebits all sold within a few hours. There were 20,000 of them generated. Owners of CryptoPunks could get one for free, and new buyers had to pay 2.5 ETH, or $8,000 to mint. Larva Labs [generated **$80,000,000 in a few hours**](https://cryptobriefing.com/meebits-nfts-selling-six-figures-larva-labs-banks-80m/). There was also a run-up in the price of ETH right before this. I wonder if that inflow had anything to do with it? Likely not. \n\nIt will be interesting to see how these transition over time. You can also see the [collection on OpenSea](https://opensea.io/collection/meebits). ",
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