Introducing the Larva Labs platform; How to trade NFT on Larva Labs Market
Larva Labs is one of the best NFT buying and selling sites where those interested in this field are active. In this article, we are going to introduce this platform to you and provide complete information about the features and benefits it provides to its users.
Introduction of Larva Labs market and its origin story
The Larva Labs platform was founded in 2005 by Dr. John Watkinson and Dr. Matt Hall with the aim of building and developing various software in New York City. After 12 years of activity in the field of software production in 2017 and at the same time as the NFT market became hot, the founders of this company decided to change the company’s field of activity. In 2017, this company officially started its activities in the field Blockchain And Digital currencies Start your first project with the name Cryptopunk (Cryptopunk) unveiled.
What features does the Larva Labs marketplace offer to artists and buyers?
By implementing a creative idea, this platform has managed to combine art and NFT and produce 30,000 new and unique visual characters, none of which are alike. In general, this market offers two possibilities to its users:
- Users can buy the character they want based on their taste and create their personal collection.
- Users can buy one of the characters in the market and after some time, give it to a third party at a higher price.
Which collections are offered on the Larva Labs platform?
Larva company at the beginning of its activity, NFT named Cryptopunk released to the market. The passage of time and the reception of users prompted the company to introduce another NFT token named Meebit In the following, we introduce the said NFTs in full.
Cryptopunk is the first NFT released in Larva
Cryptopunks are high quality 24px x 24px images encoded using a proprietary algorithm (these codes were never released to the market by Larva Labs). Published images are unique and have their own characteristics. For this reason, each of these cryptopunks has been given a special code. In general, cryptopunks offered on the Larva Labs platform can be divided into five categories:
1. Man (6039 Punk)
2. Woman (3840 Punk)
3. Monkey (24 punks)
4. Zombie (88 Punk)
5. Aliens (only 9 punks)
Each of these unique tokens of the CryptoPunks collection have different prices, the main reason of which can be considered the difference in the characteristics of the punks. For example, Cryptopunk Aliens is one of the most expensive punks traded in the market; Because there are only 9 of these punks available in the market.
Meebits, 3D characters marketed by Larva Labs
Meebits is another character offered on this platform, which was launched in 2021 after the success of Cryptopunk and has many fans. Larva company, after the success of the first project that it sent to the market, decided to introduce this project, which is very different from the previous project. One of the main differences between this series and Crypto Punk is the number of characters, variety of characters, three-dimensionality and the technology used in its creation.
Mebits consists of seven different collections, which we will mention below.
- 5 humans without skin
- 18 guests
- 72 robots
- 256 elephants
- 711 pigs
- 57 skeleton
- 18881 people
Mebites using Smart contracts And Standard ERC-721 The Ethereum network has been designed and marketed. The value of each character in this collection is determined based on its characteristics. The more specific the feature, the higher the Mebits price. One of the main uses of this collection is to use it as an avatar in the Metaverse space.
What is the reason why the characters become valuable in Labes larvae?
The main reason people are willing to pay such sums for an NFT is its uniqueness. If you purchase the image from this site, there is no other similar image that has its features. This makes collectors willing to pay huge sums to have these images.
The next issue is the issue of ownership. You can find these images all over the internet and save them to your computer and phone; But whoever buys these images from the Larva market will own them on the Ethereum network, and no one can take this ownership away from him.
Check out how to buy and sell at Larva Labs
Note that in order to buy and sell NFTs of CryptoPunk and Mebits, first enter the Larva Labs market and follow the mentioned steps step by step.
- to the site Larvalabs.com See.
- From the top menu Projects Choose.
- A new page will open for you. From this page Meebits/Cryptopunk Choose.
- To buy and sell on the site, you must connect your Metamask wallet to the site. So, first install the appropriate plugin for your browser and click on the right side of the page Allow access to MetaMask click.
- A new window will open for you through which you need to confirm the permission of the site to access your wallet. To do this, it is enough to click on the option Nextclick.
- At this point, click on the option Connect Click to connect your wallet to the Larva Labs marketplace.
- Now it is enough to charge your wallet with Ethereum currency and buy the NFT you want.
Metamask is the only wallet you can currently use to buy and sell cryptopunk and mybits.
Larva Labs non-triangular token market, a safe place to trade
Larva Labs’ NFT market has enough security for buying and selling. Because the NFTs you buy are stored in the Metamsky wallet you connect to the site and nothing is stored in LarvaLabs. So to keep your NFTs safe, you need to keep the Seed phrase in a safe place to avoid possible theft of the assets inside the wallet.
In May 2021, the Larva Labs market was attacked by hackers and they managed to steal more than $700,000 of NFT tokens available in this market; But since none of the users’ NFTs are stored on this site, no harm was done to them.
Is Larva Labs a good place to invest?
To check if the Larva Labs marketplace is right for you; It’s better to answer this question: am I going to buy NFTs to build my collection or do I want to get out of this market in the short term? If you are planning to enter the Larva Labs market for short-term investment, this market is probably not the right place for you; because most of the valuable images in it are selected by users; Unless a new project is introduced by this company, in which case it is very likely that buying its NFTs will bring you good profits in the short term. But if you are among those who are looking to gather a collection and maintain it for the long term, this investment is suitable for you; Because the passage of time can multiply the price of your NFT.
Larva Labs platform introduction post; How to Trade NFT on Larva Labs Market appeared first on Wallex Blog. appeared.