Yuga Labs Sets Royalty Fee on Meebits NFT
Yuga Labs did not specify a specific purpose for the royalties at this time but some speculate the funds would be used for the development of the Meebits NFT collection. The 5% Royalty fee is set on all secondary sales on the Meebits and has been announced via a tweet on the Meebits page. The royalty fee is already available on the secondary markets OpenSea, LooksRare, and other markets that sell Meebits.
This fee is even higher than the 2.5% royalty fee set on Mutant Apes and Bored Apes and currently the Meebits NFTs have a floor price of 4.94 ETH (roughly $8500), according to Coingecko data with a collection sales volume that has increased by over 150% in the last 30 days, per CryptoSlam.io data.
The rights to CryptoPunks and Meebits were part of a deal where Yuga Labs purchased the two projects earlier this year.Yuga Labs also gave commercial rights to the owners of the NFT in the same vein as BAYC holders. Holders of the NFT will be able to enjoy the same benefits as the very well known blue-chip platform.
The fees are being used to build up the community and empower some creative members to build up the project and create new ideas and ways to grow the platform.