Flipping NFTs is on everybody’s wish list now. However, the Moonbirds pulled off an impressive feat. They minted with a 2.5 ETH floor price. Which in all fairness is a rather steep mint price. Nonetheless, two days later, the floor price was at 20 ETH.
So, what are the Moonbirds? Moreover, why are they so popular? How did they pull this off? We are going to have a look at them Moonbirds and give you the lowdown.
What Are the Moonbirds?
In the simplest version, they are a 10,000-piece NFTs collection of owls. To be more precise, they are PFP NFTs, and they have come with some good utilities. Furthermore, they have different traits and rarity levels. The original mint date was April 16th, 2022. They are a brainchild of the PROOF collective.
In the world of NFTs, this collective is rather influential. As a result, it helped to push the value and popularity of this collection. The co-founders are Kevin Rose and Justin Mezzell. These two are well-known and respected inside NFT ranks.
Moonbirds' trading volume on Opensea is higher than the rest of the top 10 combined (last 7 days) pic.twitter.com/6rGypAyFEY
— Blockworks (@Blockworks_) April 21, 2022
The PROOF collective holds for instance some 150,000 NFTs. In a private club of just 1,000 members. But the real kicker is that this includes some 800 BAYC NFTs, 148 CryptoPunks, and over 5,000 pieces of Art Blocks. Just to show that this collective not only has money but also knows what is valuable.
Source: PROOF collective
Now, each PROOF member could mint two Moonbirds. It certainly helped that PROOF members could mint for free. Nonetheless, all other 8,000 NFTs went like hot buns. However, the minting was not without controversy. Bots managed to get a lot of whitelist raffle spots. This left honest collectors empty-handed at the mint date.
Check the video below to see what the future PROOF plans are. These include a PROOF metaverse, named Highrise.
For example, after just two days of the original mint date, secondary sales went through the roof. This resulted in total sales worth over $281 million. As if this isn’t crazy enough of a stat, check the following. On April 22nd, their hourly sales on OpenSea were higher than the rest of the top 10 combined. This includes Azuki and Clone X.
Perks of Having a Moonbird
Besides being a PFP NFT, the owls come with some extra benefits for their owners. For instance, there is a nesting feature. You can compare this to staking. The longer you nest your Moonbird, the more benefits will come your way. The extra perks for nesting aren’t revealed. However, the website mentions tiers for participants. It remains a surprise what the exact benefits will be.
On top of that, you also gain access to the PROOF Collective Discord channel. This is an exclusive channel and a nice way into PROOF. Since it is an exclusive club, entrance to this channel is a premium benefit.
Source: Website Moonbirds
How Did Moonbirds Do It?
This is the golden question! How did Moonbird get such a remarkable value in no time? For starters, as already mentioned, the mint price was steep at 2.5 ETH. However, this was somewhat expected, as the collection came from PROOF. So, although it was an expensive mint, this was no real surprise.
Now, let’s put the $281 million 2-day turnovers in secondary markets in perspective.
Two other projects that are in high demand, who launched in 2022, are Azuki and Clone X. Hereby, Azuki managed to make no less than $122 million after two weeks of trading. On the other hand, Clone X realized a trading volume of $120 million within a week. With all due respect to these impressive figures, they pale when compared to the $281 million volume in just 2 days. As a result, Moonbird’s current floor price is well above the floor price of these two collections. Just for the record, at the time of writing, the floor price is at 32,4 ETH.
In the meantime, the floor price accelerated. Even a Japanese Shinkansen bullet train couldn’t keep up with this pace. Once the owls hit the market, their floor price was already at 8 ETH. That is nothing less but sensational. Especially looking at the collection size of 10,000 NFTs.
Thank you @vxtxr_eth for pulling this data together, looks like 84.54% of Moonbirds are currently nested and in diamond hands (wings). 😮 (we'll have this data baked into our nesting dashboard soon) https://t.co/U9smGMoJZW
— KΞVIN R◎SE (🪹,🦉) (@kevinrose) April 25, 2022
Factors That Influence the Moonbird Floor Price
A few things come into play. These are not necessarily factors that play out the same way for each project. Every so often, there are factors unique to a single project. Owning a Moonbird meant having the chance to become part of PROOF. So far, this was and is a unique opportunity to do just that. It’s an elite and exclusive group. The temptation to be able to join this exclusive group is irresistible for collectors.
Upon analyzing these phenomena, two things come to mind. Mindset, as explained above, as being part of an exclusive club. But also, community, FLOOR having already created the exclusivity beforehand. Now, PROOF offers other collectors a way to join this community. On the other hand, the community is also the collectors who are so keen to join! So, we see that all these factors come together in this Moonbird NFT project.
Conclusion
It appears that the Moonbirds claimed their seat of fame in NFT ranks in no time. Various factors played out in favor of the PROOF project. However, other voices state there was some manipulation at hand. Nonetheless, the Moonbirds are here, and if you want one, you will need to fork at least 32.4 ETH over.
PROOF also managed to make it interesting to own a Moonbird. There are some good perks for owners. For example, the nesting option. It is well worth keeping an eye out on what the PROOF Collective is coming up with next.
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