The Bored Ape Yacht Club and Otherside Metaverse creator, the iconic Yuga Labs, announced that it set a 5% royalty fee on all secondary sales on the Meebits NFT collection.
The Meebits team announced this news via their official Twitter handle and stated that this will be rolled out immediately on secondary sales from OpenSea, LooksRare, etc.
In March, Yuga Labs acquired the IP rights of Cryptopunks and Meebits NFT collection. As a part of the deal, Yuga Labs granted commercial rights to CryptoPunks and Meebits owners, same as BAYC NFT holders.
Yuga did not specify the precise purpose of the fees, but it seems the royalties would be used to support development in order to “keep [the] Meeb party going.”
The Meebits team also has assembled some “brilliant creative thinkers and some die-hard Meebits community members” in order to build and expand the community and the NFT collection.