Moonbirds NFT collection did not enter the NFT world on a silver platter. In 2022, the NFT space was in the grips of an angry bear market and witnessed some serious declines in sales. But not for Moonbirds. And even though BAYC and CryptoPunks took center stage at the time, they did not succeed to overshadow Moonbirds’ launch.
It has proved and continues to prove itself a fierce competitor in the PFP NFT market. How did these dressy owls gnaw their way through extreme competition? And how are they maintaining it? We’re taking a deep dive in.
What is the Moonbirds NFT Collection?
The collection is the brainchild of Kevin Rose, a prominent internet entrepreneur, founder of news aggregator Digg, and originator of Proof Collective. Thus, the project was part of Proof— the private, members-only collective of NFT artists and collectors.
Nevertheless, there is a great number of contributors that made the product great. Co-founder and CPO of Proof, Justin Mezzel, is the artist behind Moonbirds’ distinct pixel art.
The founders dissected the release of the full supply into 3 parts.
The first 2,000 NFTs were reserved for Proof Collective members to mint prior to the public sale. Now, there are only 1,000 member passes that make up the Proof Collective ecosystem. Consequently, each token ultimately yielded two free NFTs for its owner. If you were one of the few Collective members who owned more than one Proof membership pass, you got yourself a sweet deal.
Afterwards, the creators decided the next 7,875 NFTs would go to the general public via a whitelist. Proof held a widespread raffle to determine who gets on the whitelist. Entrance required users to have 2.5 ETH (the price of a Moonbird) in their registered wallet at the time of entry.
That leaves out 125 NFTs exclusively reserved for Proof admins to use in future collaborations and marketing.
How did they become such a hit?
In 2022, we’ve only witnessed a few NFT projects, like Doodles, causing significant echoes in the space. Yet, only a few days post-launch, Moonbirds was ready to show competitors how it’s done, achieving over 100,000 ETH (about $300 million at the time) in secondary sales. As for the raffle NFTs’ public sale, that raked 19,687 ETH (around $60 million).
Now, we know what you’re thinking. Moonbirds is a simple collection of pixelated owls, what’s the big deal? The big deal is its affiliation with Kevin Rose and Proof Collective’s success.
To elaborate, we need to look no further than the explosive rise of Proof Collective membership NFTs.
Proof Collective Passes minted on Dec. 11, 2021. Initially, each of the 1,000 NFTs sold for 1 ETH each. A membership pass to all things Proof, Collective Passes were marketed as offering holders access to a private Discord, early access to Proof podcast episodes, in-person events, and other projects (including Moonbirds).
The floor price for Collective Passes saw minor fluctuations throughout the rest of 2021, then began a slow rise into the double digits, hitting a minimum price of 30 ETH (around $85,000 at the time) by February. That is before skyrocketing to around 120 ETH (approximately $350,000) a week after Moonbirds launch day.
And as we’ve all come to know well, success only breeds more success. Therefore, once an artist/influencer — like Beeple or GaryVee (both members of the Proof Collective) — gains fame, the value of their projects and collections from there on out will be valued accordingly. Leading to FOMO from the community, and a rush to purchase said NFTs to become part of the prestigious and hype community.
Moonbirds NFT Utilities
Moonbirds’ flight (pun intended) wasn’t only due to affiliation with success, but also its wide range of incentives to the collectors.
“Nesting”, as the creators call it, is probably one of the most prominent utilities the project has to offer. Nesting is the ability to stake a Moonbird, or lock it untradeable, without the need to transfer it to a vault for safekeeping.
Doing so will begin a process of your Moonbird NFT accruing additional benefits, achieving new tier levels, and even upgrading their nest to become more profitable which will in turn yield even more enhanced drops and rewards.
Additionally, Moonbirds owners get priority access to future Proof NFT projects, including the upcoming Proof Metaverse. Not to mention that the NFT holders actually own the full commercial rights to the IP of the NFT that they own. Meaning they can take the art and create an entire brand around it. This multiplies the financial benefit from their NFTs.
Currently, Moonbirds stands 5th on the list of top traded NFT collections in the last 30 days on Opensea. As for the top traded collections of all time? Moonbirds stands at number 8! So, if the idea of investing in a Moonbird sounds intriguing to you, it just might pay off. And as the team continues to show dedication in building out the project, that utility wagon only seems to get more tempting. Here’s a full guide on how to buy an NFT to get you started somewhere.