Moonbirds and the Rise of the PFP
An NFT project that sold 10,000 generative editions of birds for more than $200 million in two days!
Moonbirds Goes Moonshot: The Story
Moonbirds is an NFT project that consists of a collection of 10,000 generative editions of birds. Each picture is unique and has a special set of traits that make it collectible. The Moonbirds were made by PROOF Collective, a project created by Kevin Rose and were first sold on April 16th, 2022. In just two days, they made more than $200 million from selling them! Kevin Rose is a serial internet entrepreneur who is probably most well known for founding “Digg” from the web2 days. Digg is a platform known for covering viral trends on the internet.
Since then, Moonbirds have generated over 210,822 ETH in sales volume. Some of the pictures were only available to people who are members of the PROOF Collective, but most of them were released to the public through a special list and via a free mint.
Make sure to join the Crypto Power Index for our breaking sentiment on projects to help you front-run the opportunity!
A lot of people initially compared the Moonbirds projects to Bored Ape Yacht Club and other blue chip projects due to the quick success of Moonbirds. Moonbirds was one of the most successful launches of any NFT project to date as shown below.
Birds Nesting, But Ready To Migrate?
Moonbirds also have the ability to stake for rewards. As this article is being written you can see the total number of Moonbirds currently staked at 8,944 but there appears to be a slight dip in Moonbirds staking as of late.
COO Quits Abruptly
After the wildly successful launch of Moonbirds the COO Ryan Carson quits Proof Collective to start another fund that has a similar mission. Much of the NFT community didn’t like Ryan’s exit due in part to how Ryan exited the project.
VC Money In The Bag
In a rollercoaster-like beginning of the Moonbird project with its ups and downs, Kevin Rose announced shortly after Ryan Carson’s departure that the project had raised $50 million in series A funding with Andressen Horowitz leading the pack.
MoonBirds Cancels Proof Conference
In Moonbirds wild ride of wins and losses, it continues to garner attention. Moonbirds has since launched several collections holding high floor prices like Oddities, Proof Grails, and the Proof Collective membership. But despite having massive success in the NFT industry, not even Moonbirds could garner enough attention and demand for its upcoming Proof of Conference event that was slated for May 11-13 in Los Angeles, California. Kevin Rose cited that timing was key and that there was considerably less interest. He also mentioned everyone who purchased tickets would be getting full refunds.
Final Thoughts
Moonbirds has achieved what most NFT projects could ever dream of. However, Moonbirds have a long road ahead to prove and execute its original vision. Kevin Rose himself said this year the project would spend time executing. If Moonbirds can execute well it could mean well for their holders. But execution can go both ways and if not properly done well can leave the bird's holders feeling high and dry. This will be an interesting project to watch closely this year to see if they can fly high above the noise or possibly have their wings clipped by the bear.
~This episode is sponsored by Kraken~ Kraken website ➜ https://bit.ly/KrakenPBN