Remember Meebits? The Larva Labs money machine that raised a then scarcely believable $80m for a collection of voxel PFPs with no discernible utility, no roadmap, just the cachet of being from the same creators as the legendary punks. Meebits were the spur for Bored Ape owners to do everything in their power to raise the floor above them and in so doing created the rich primordial soup that a16z were only too willing to dive head first into, caution be damned.
A year later Yuga is in the pre-eminent force in NFTs and in a position to acquire both Punks and Meebits, removing the legendarily hands off Larva Labs from the discussion. But what was the plan? What did they want to do with these mouthless blocks of digital randomness?