This April, a new NFT project, Moonbirds, racked up more than $290 million in sales and a floor price of 18.9 ETH just four days after its debut. For comparison, Doodles, another popular NFT collection with a similar floor price, launched six months ago in October 2021. What’s more, the high mint price (2.5 ETH) for Moonbirds surprisingly did not dampen market enthusiasm - instead, people found it a good deal.
Moonbirds NFT Collection on OpenSea
Moonbirds is a NFT PFP collection launched by PROOF. Holders will be able to enjoy several rights. They will gain exclusive access to private clubs and future events, especially PROOF’s metaverse plan Project Highrise.
How did Moonbirds captivate the crypto space? I believe there are three main factors:
- Strong Background with Proven Success - PROOF & PROOF Collective
- Valuable Community - Built from PROOF Collective Holders
- New “Staking” Mechanism - Nesting
Strong Background with Proven Success
PROOF is a podcast founded by True Ventures co-founder Kevin Rose, focusing on the NFT space. True Ventures is a venture capital (VC) firm focused on early stage technology startups. Before Moonbirds, PROOF also launched a membership NFT collection called "PROOF Collective". At time of writing, its floor price has increased to 91 ETH.
In addition, PROOF regularly invites famous artists, practitioners and big names from NFT and crypto-related industries like Gabby Dizon (co-founder of GameFi project Yield Guild Games) to speak on its podcast. The experience from its previous successful NFT collection and strong network resources will be inherited by Moonbirds.
Moonbirds allegedly also has the backing of VCs, which help to drive floor price and total sales up.
There are a total of 10,000 Moonbirds NFTs. 20% (2,000) are allocated to the holders of PROOF Collective and each of them has the right to mint two Moonbirds. This indicates that a sizable segment of the Moonbirds community is built from the original PROOF community.
How strong is the PROOF community? Well, take a look at the data below, which shows that PROOF community members also hold several blue chip NFTs like CryptoPunks and Bored Apes. By holding Proof Collective NFTs, PROOF holders are acknowledging the strength and potential of PROOF.
New Moonbirds holders also gain the chance to access PROOF’s exclusive, private Discord and other closed-door discussions, which is very attractive as PROOF’s members include some of the biggest names in NFT.
PROOF Collective NFT Holders
New ‘Staking’ Mechanism - Nesting
Moonbirds further added utility to its NFTs — a special ‘staking’ mechanism aptly named ‘Nesting’. Nesting is similar to staking as holders can lock their Moonbirds NFT and earn additional benefits automatically. As of now, benefits include merch, stickers, and more yet to be announced.
However, different from staking in which users need to transfer their assets out from their wallets, Nesting allows holders to lock the NFTs in their wallets. Once the NFT is under Nesting, it cannot be traded on the secondary market (e.g. NFT marketplaces like Opensea). However, the NFT can still be transferred to other addresses manually through a website provided by PROOF. This ensures the safety of the NFT while holders enjoy benefits.
Moonbirds is gaining great traction. With founder Kevin Rose stating that Moonbirds will be a utility PFP which will benefit the “long-term holders”, the collection is set to become an all-time favourite. From Moonbirds’ total trading volume so far, the NFT space seems to agree.
Tweet credit: @Zeneca_33
The views expressed in this article are the author's alone and do not necessarily represent the views of ApolloX.
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