Why Bored Apes Are Killing it & Meebits Are Lagging Behind

Just when you thought the Apes will probably be another hyped up project for two seconds before it fades into the background of another hype, Crypto Twitterverse and CryptoSlam proved you wrong.

Whether you’re active on Twitter every day or not, you’ll have noticed the buzz surrounding Bored Ape Yacht Club (BAYC) and Meebits. As we know, these two projects launched at around the same time, however, while BAYC has had a steady increase in sales and growth, Meebits have taken a bit of a downturn (for the time being at least, NFT world is unpredictable).

cryptoslam
BAYC made it to the number one position in trading volume. Impressive.

While the highest individual sale for a Meebit was 700 ETH and and an Ape 21 ETH, the growth of BAYC has increased and Meebits sales have decreased in value. A quick look at the marketplace will also show you that quite a few people have been trying to sell their Meebits without success, this certainly says a lot about the current status of a project. So what’s going on and why?

At the launch of BAYC, enthusiasts were “aping in” one morning, only to wake up the next and find their Twitter feeds covered in Meebits. Many then decided to “ape out” and sell their Ape for a coveted Larva Labs Meebit instead, only to regret it a few weeks later. We’re not here to say which project is better or worse, both are great projects and both have their place in the NFT ecosystem, however, there is one aspect which separates them immensely and which is, and will be, relevant to the success of all NFT projects: community.

Those who joined the Ape experience early will have noticed that the Ape Club has grown immensely since its launch, and has formed a strong sense of community. Many have added more Apes to their collections because of the community aspect, and although there are double the amount of Meebits, the amount of Ape holders is catching up.

In addition to the thriving community which has added to more a positive and fun Twitter experience, BAYC also has a roadmap and the team is constantly exploring new ideas (utility for one) with many things planned for the future, including merch, LoFi Radio, Youtube, and more. Meebits on the other hand, doesn’t have a roadmap. A number of Meebit holders have expressed their concerns about the lack of interaction from Larva Labs, and that it is now up to Meebit holders to take the reigns and create a world around the project.

On top of all this, a new NFT project called Arabian Camels recently launched and they decided to give away 2,000 of their NFTs (good marketing move for the project) to existing members of the Bored Ape Yacht Club, which created even more excitement around BAYC.

arabian camels

Here are some fun stats courtesy of Loopify, for a brief overview of both projects.

  • Meebits: 4,629 holders with 20,000 supply
    Apes: 3,429 holders with 10,000 supply
  • Meebits primary sale: 20,000 ETH+
    Apes primary sale: 800 ETH
  • Meebits floor: 2.5 ETH 🔻 0.7 ETH
    Apes floor: 0.08 ETH 🔺0.69 ETH

meebits

Both projects are holding up strong, and nobody can predict what will happen, but perhaps it is the prevalent community spirit and close involvement of the BAYC creators and users that will keep this project going for a long time. What is certain, is that this is a learning curve for everyone and that these are the projects that future creators will one day look back on and learn from on how to do things better.

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Image credit: via Boring Bored Ape

*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

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