Since its release on April 16, 2022, the Moonbirds collection has been gaining popularity in the NFT space. The Moonbirds collection ranks sixth on Opensea's Top 10 NFTs list. Moonbirds is a collection of 10000 NFTs for PFP that grant membership to the exclusive PROOF Collective private club. Moonbirds debuted on Twitter on March 19, 2022, less than a month before its release, to great acclaim. The first tweet received a lot of responses, despite the fact that the project did not have a Discord channel or Instagram. Even before the mint, the founders of Moonbirds promised an exciting future for token holders and those who would be part of the PROOF Collective.
Most of the PROOF Collective's stakeholders are optimistic about the Moonbirds project and/or the PROOF ecosystem and are likely to keep their NFTs or even increase their holdings in the long term. Therefore, with the latter group holding the Moonbirds and absorbing the supply from the former, which will hold less anyway, it is likely that the Moonbirds will continue to be successful in the medium to long term.
Of course, this conclusion is based solely on quantitative data, which may not reflect some of the nuances. Therefore, it is wise to also pay attention to several qualitative factors when considering the Moonbirds project.
Qualitative analysis of Moonbirds
To better understand whether Moonbirds will continue to grow in the medium to long term, we first need to evaluate the reliability of PFP projects as a whole, as well as explore what gives these projects their value. Recall that Moonbirds is a PFP NFT project developed based on the concept of utility. Such projects are not a new concept in the NFT space, as many people have realized that something more is needed for PFP to flourish. In most cases, these projects are valued by giving their owners access to a certain exclusive club. As such, it can be argued that the sustainability and/or future of any particular PFP project, such as the Moonbirds, is largely in the hands of the club. How exclusive is this club really? What value can be extracted from the club? Is the club some sort of status symbol?
The PROOF Collective roadmap includes many exciting upcoming projects and opportunities that its members will be able to get exclusive access to, which is why many people want to get Moonbirds. If the project can deliver everything they promised, they will definitely succeed in the long run, as we all know how strong the charm of a prestigious community can be. This is something that is typical not only for the crypto world.
From the above, we can conclude that the future success of the Moonbirds is largely dependent on the PROOF Collective and its members. Although it is impossible to say for sure whether the PROOF Collective will be able to hold the bar in the coming months or years, we can judge the distant future based on the profiles of the mentioned members of the PROOF Collective.
Based on this, we can see that the NFT that holds the most in all such wallets is the PROOF Collective Pass NFT. While this fact may not be of any practical value for understanding the situation, it supports our argument that the majority of PROOF Collective members actually believe in Collective and its vision for the entire ecosystem of NFT projects, including Moonbirds.
If the majority in the Collective are optimistic and convinced about the project, the future of the Moonbirds is likely to be successful, as this is the main group that will determine the true value of the Moonbirds in the next few months or even years. The startup behind the Moonbirds NFT collection has raised $10 million from Seven Seven Six, the venture capital firm of Reddit co-founder Alexis Ohanian. The startup was founded by Kevin Rose, a partner at True Ventures. The latter also participated in the funding round, but it was Seven Seven Six who invested $10 million, he stressed. Rose noted that the collaboration with Ohanian will allow the project to issue additional non-fungible tokens along with Web 3.0 content creation, conference launch and other initiatives.
Previously, Proof launched PROOF Collective, a closed community with over 1,000 members getting access to NFT drops and other perks. The tokens included in the collection were sold through the Dutch auction format - their price started from 5 ETH. At the time of writing, the cheapest token listed on the OpenSea marketplace can be purchased for 100 ETH ($285,884 at the current exchange rate).
When the project was just launched on April 16, the minimum price of one token was 2.5 ETH (approximately $7,700), and currently it reaches about 18.45 ETH ($56,800) on the OpenSea marketplace. DappRadar reports that Moonbirds #796З entered the list of the top 10 NFT sales of the last week, coming in ninth place with a price of 135 ETH ($410,000). The minimum price of a token from the collection is 27.75 ETH. Recall that The Sandbox metaverse project bought Moonbird #2642 for 350 ETH (more than $1 million at the time of the deal). The Moonbirds NFT project, which has been on the market for just over a week, has already generated over $281 million in sales, according to CryptoSlam. Yacht Club and CryptoPunks.
