Moonbirds NFTs fly on Debut, racking up $200M in sales

Non-fungible token (NFT) project Moonbirds this weekend, the cryptocurrency-sphere was fascinated by the collection as it set records in trading volume and became the latest collection that has been awarded blue-chip status.

The total sale of the 10,000 PFPs (profile pictures) totalled 69,000 Ethereum (roughly $207 million). At the time, there was a floor price at 21.3ETH (roughly $64,000).

The debut put Moonbirds on top of OpenSea’s volume leaderboard not just for the week, but for the last 30 days, ahead of Azuki (50,000 ETH) and Bored Ape Yacht Club (35,000 ETH).

The historic hype for owl pictures came with some precedence – the project is the first from PROOF Collective private NFT community, led by Ryan Carson and Kevin Rose.

The group has marketed Moonbirds as “the official PROOF PFP,” with holders of the PROOF Collective membership pass (the cheapest currently listed at 99 ETH) being granted early minting privileges.

Controversy

The project’s mint came with some controversy, from complaints of a hefty 2.5 ETH (roughly $7,500) mint price to raffle manipulation and concerns of rarity sniping developers buying up rare editions from project leaders using insider information.

More generally, the project’s meteoric rise comes in contrast with an otherwise downtrodden NFT market, in which many top projects have seen a lull or sharp drop in sales over the past few weeks.

Road map for Moonbirds

Moonbirds’ holders are given access to “Moonbird-related drops, Parliament meetups and IRL events” as well as the private PROOF Discord channel, according to the project’s website.

PROOF also has its own metaverse in the works, which it’s calling “Project Highrise,” encouraging holders to “nest” (hold) their Moonbirds for added utility down the line.

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