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Proof Collective’s Moonbirds flew to break mint date records as it became the number one NFT hours after minting on OpenSea. It entered the group of blue-chip NFTs hours after its mint.
It overtook the likes of Mutant and Bored Ape Yacht Club, Murakami.flowers seed, and CryptoPunks to rank number one in terms of ETH traded in the last 7 and 30 days on OpenSea.
It belongs to a particular category of NFT collectibles called PFP (profile picture). PFP NFTs consist of avatars with unique attributes that are randomly generated and created. It was pioneered by Bored Ape Yacht Club (BAYC) and CryptoPunks.
The project, launched on the 16th of April, 2022, comprises 10,000 bird avatars created as pixel art by the Proof Collective to serve certain utilities. It consists of a rare and unique pool of characters made into profile pictures for granting membership to a private group and extra perks as time went on.
The astounding achievements of the collection can be attributed to the brains behind its creation- Proof Collective, which Kevin Rose runs. This team comprises a private Discord group that includes NFT collectors and artists.
The membership pass initially sold at auction now costs over 83ETH. The community boasts of an outstanding team with years of relevant experience. The community owns over 150,000 NFTS, including CryptoPunks, BAYC, Art Blocks, Metaverse, and SuperRare 1:1 NFTs.
For an NFT project to succeed, it has to be backed by a reputable team that Moonbirds have. Although it is not Proof Collective’s first NFT offering, its rich history gave these birds the necessary push to take flight and be coveted among collectors.
Another factor contributing to an NFT’s success is its usecases and prospects. Its usecases would go beyond serving as profile pictures to granting access to fresh collectors to join Proof’s Discord server. Holders would be able to partake in exclusive channels while networking with and learning from the founders and members of the group.
Asides from this, holders would get early pass to future Proof projects, like Project Highrise (its metaverse) and future Moonbird drops just like Proof Collective gave its members minting pass to two Moonbirds NFTs.
An allowlist mechanism was employed in granting over 7,000 collectors not in the community access to mint it. About 125 items of the collection were kept for marketing campaigns and future collaborations in the Proof Treasury.
Holders would also enjoy early pass to IRL events and Parliament meetups. Its prospects can be unlocked by locking one’s Moonbirds in a process that resembles staking. This process is termed nesting. Holders can access additional benefits by nesting their Moonbirds, benefits which include stickers, merch, and so on.
While the Moonbirds wouldn’t leave your wallet during the nesting period, you won’t be able to flip it. The longer you nest a Moonbirds, the more the rewards you would be eligible for.
Moreover, the reward mechanism and roadmap are only open to community members, but the rewards would be lucrative from the content on the official website. As more utility gets revealed, Moonbirds’ value is bound to keep growing.
On the 16th of April, 2022, the Moonbirds NFT joined the list of top-grossing NFTs hours after its launch. It generated over 70,000ETH in ETH traded on OpenSea four days after. It was minted for 2.5ETH at the public mint and had a floor price set for 8ETH.
Some people claimed that there were raffle manipulation, rarity sniping, and wash trading, but this didn’t faze traders as they kept trading it to leave it at a floor price of 20.69ETH.
However, it should be important to know that the 10 most costly Moonbirds sold for at least 90ETH, with the costliest one costing 135ETH. It surpassed the floor price and ETH traded of Azuki and Clone X before 48 hours after launch. Its success can be attributed to its creators, utility, and the sentiments of its holders.
Moonbirds established that PFP NFTs can do a lot with a solid backing. While it has done something beyond reason, it is worth monitoring to see if it’d leave up to expectations.
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