The Moonbirds NFT Collection is yet another NFT Collection that shot to fame right after its drop. Due to the prominence of its creator and the fear of missing out on another potential 69 million sale, the community immediately flocked to this new NFT Collection to try getting their hands on one of these Moonbirds. We will be explaining more about this NFT Collection, what made it so popular and the utilities that Moonbird holders will receive.
What is the Moonbird NFT Collection
The Moonbird NFT collection was first launched on 16 April 2022 by the Proof Collective. 10 000 birds were launched at once and sold out immediately. The Moonbirds NFT collection amassed more than 445 million in sales in a little over a week despite being a new collection and remained the top-selling NFT for a month after it was launched. The idea came from Proof’s founder Kevin Rose, and its pixelated art style came from Proof’s CPO. The strong involvement of Proof in the formation of this NFT Collection has been said to be one of the contributing factors to its immense popularity when it was first launched.
The Moonbirds NFT Collection was released in 3 big batches: first to the Proof collective members, then to the general public, and some were kept as ‘reserves’ for proof to utilise in future.
First, 2000 out of the 10 000 Moonbirds were reserved for Proof members. Since there are only 1000 Proof members, any member holding the Proof Collective token would get 2 NFTs, truly a steal.
Next, 7875 Moonbirds were released to the general public. However, the floor price of the Moonbirds was driven up beforehand. Proof previously held a widespread raffle among members of the public. In order for these members to participate, potential collectors needed to have at least 2,5ETH (as of 16 April, 1 ETH was worth 3060 ETH, making 2.5 ETH 7650 USD at that time).
The remaining 125 Moonbirds were kept by the Proof Collective. These reserved owls are intended to be kept for future collaborations and marketing strategies.
What made this NFT Collection so popular?
First, the community believes that the immense popularity of this collection stems from the people behind the collection: the Proof Collective.
The Proof Collective is a private, members-only collective of 1000 dedicated nft collectors and artists. To be in this collective is to be a prominent individual in the nft community. The most prominent figure in this launch seems to be the founder of the proof collective: Kevin Rose. Prior to creating the Moonbirds NFT collection, Rose had already established his top-tier internet status as the founder of news aggregator Digg. An NFT collection by such a high-ranking individual would surely not go unnoticed.
Second, many seem to think that the involvement of prominent figures such as Beeple and investor Gary Vaynerchuk may have contributed to the high demand for these owls. Due to the rise of the FOMO phenomena, once a prominent figure or NFT collection takes off, anything else released with a connection to these individuals and connections tends to take off as well. The success of the Moonbird NFT Collection may also be attributed to Beeple’s previous sale of an NFT for a whopping 69 million dollars. When the Moonbirds NFT Collection was first launched, 1 Moonbird could cost up to 36 ETH, or around 106 000 at the time, however, this only lasted for around 3 hours before the floor price started to fall again. For more about the FOMO sentiment surrounding the Moonbirds NFT Collection, have a look at this video.
What utility do Moonbird NFT Holders receive?
Moonbird NFTs seem to offer more utilities to their holders than most NFT holders, which may also have contributed to its popularity. In particular, these Moonbird holders can stake or ‘nest’ their Moonbirds to earn a passive income. In fact, the longer you stake your Moonbird, the higher the tier your bird gets, which will allow you to accumulate greater rewards with time. To better understand what staking an NFT means, have a look at our article.
Moonbird NFT holders also take intellectual property rights very seriously. Moonbird NFT holders are able to fully own the full commercial rights to the intellectual property of the NFT they own. While this essentially means that the original creators lose their intellectual property rights, it also means that the current holders get to create a new brand around the Moonbids they own. This utility, therefore, provides holders with another kind of ownership that other NFT Collections do not offer.
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