What is something that looks like an owl but only takes flight in the digital world? Here’s a hint…thousands of them were released on April 16, 2022 and racked up a revenue of over $200 million in 48 hours. If you guessed Moonbirds, you are correct.
The brainchild of American entrepreneur Kevin Rose, Moonbirds is a collection of 10,000 NFTs (Non-Fungible Tokens) that were dropped in batches to much fanfare and attention. Fortunately for Rose and his team, they attracted more than just attention. The project quickly became one of the most successful NFT projects ever.
The Moonbirds grand entrance onto the NFT space was notable because of the record sales, which earned it the title of one of the 10 highest grossing NFT collections of all time. Granted, NFTs haven’t been around for long, but it is still a remarkable feat since countless NFT collections are minted daily.
Upon initial release, a supply of 7,800+ Moonbird NFTs were released to people who were on a specific ‘whitelist’. That list was made up of winners of a mega raffle held by the PROOF. All entrants had to have a minimum ETH amount–enough to cover the price of one Moonbird NFT.
So, what are Moonbirds NFTs, what makes them so spectacular, and how did it rise so quickly? Let’s dive in.
The pixel-art collection project offers many irresistible incentives to collectors. One such unique incentive is that a collector can lock or ‘nest’ a Moonbird NFT. This effectively makes the NFT untradeable even though it isn’t ‘locked’ away in a vault.
When a Moonbird NFT is in nesting state, owners also get the added benefit of priority access to future PROOF NFT projects. Per Moonbirds, “As soon as your Moonbird is nested, they’ll begin to accrue additional benefits.” Owners get access to an NFT-gated Discord server community where they are first inline to hear about Moonbird developments, news, events and, of course drops.
The benefits to ownership seem to be the highlight of the project, along with the project’s blue-chip initiative goal.
Utility is an important topic in the NFT world. There are millions of people who still do not understand NFTs and blockchain technology. Also, there are many naysayers of the industry. Because of this, it is vital that projects have demonstrable utility. When projects are built with high utility, it shows their relevance and purpose in emerging technology markets. This is one way to refute the cryptocurrency ecosystem naysayers.
The Moonbirds collection offers utility. It is a generative, large-scale avatar PFP NFT project. That’s a mouthful. Let’s break it down.
If you are new to PFPs, they are profile pictures (Avatars) people can use to represent themselves on social media. But Moonbirds are more than just avatars. The collection features an array of diverse rarity-powered traits. There’s a ton of variety to choose from and something to satisfy everyone, no matter their digital-asset taste.
PROOF is the organization (founded by Kevin Rose and Justin Mezzell) that birthed the Moonbirds project. Moonbirds being a part of the PROOF initiative is significant because utility is an underlying framework of PROOF.
Per PROOF, ‘The PROOF-built metaverse will be a dramatic departure from the existing ‘never-ending’ worlds that feel like a digital ghost town. Ours is uniquely different, and you’ll have first access as a nested Moonbirds holder.’
The Moonbirds mint is the beginning stages, according to Moonbirds. It’s exciting to imagine what’s up next. We are fortunate to bear witness to the dawning of the Metaverse with projects like PROOF Moonbirds contributing to the development of this technology.
So, you’ve decided you may want in on the Moonbirds project. Here’s what to do next.
As with most transactions on NFT marketplaces, the steps are simple and straightforward.
The Moonbirds initial take-off and high sales are good indications of the project’s appeal. It is a fun, creative, and useful initiative in the NFT space. It will surely be interesting to see how the project continues to develop.
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
Writer and author who enjoys simplifying blockchain technology topics.
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