Moonbirds NFT Rides the PFP Wave to $280M Transaction Volume After Debut

Newly launched Moonbirds NFT collection rallies to $285 million in transaction volume in under three days amid the NFT-PFP boom.
Image source: Moonbirds

Quick take:

  • Moobirds transaction volume has rocketed to $285 million after launching on Saturday.
  • The NFT collection has seen its floor price rise from 7.5 ETH to 18.95 ETH in just three days.
  • The collection was created by Proof Collective, a group of 1,000 collectors including Beeple and Gary Vaynerchuk.

Moonbirds transaction volume has rocketed to $285 million barely three days after launch. The NFT collection launched on Saturday, with volume spiking to $148 million in a few hours. 

The rapid surge in trading volume may have caught some curious NFT traders by surprise. However, NFT analysts have attributed the surge in popularity over such a short time to the people behind the project.

Moonbirds is a collection of 10,000 digital owl images created by Proof Collective, a group of 1,000 collectors and creators that is composed of some of the most popular names in the NFT space.

The project is co-founded by Kevin Rose and Justin Mizzell, who are also renowned NFT figures in the NFT space, while Beeple and Gary Vaynerchuk are members.

The collection also seems to be riding the current PFP wave, with data from NFTgo indicating that NFT-PFP sales have already crossed the $10 billion mark.

Moonbirds is looking far beyond the NFT collection sale. On Saturday, Rose posted a YouTube video discussing the grand scheme of the project. The company plans to use the proceeds to build its own media empire, something similar to what Yuga Labs did with the Bored Ape Yacht Club NFT collection.

Source: Proof Collective/Youtube

The collection has planned a series of parks for Moonbirds holders including access to exclusive events, real-life gifts and merchandise and early access to the Moonbirds metaverse, which CEO Kevin Rose said will be unlike any other the community may have seen out there.

Although the collection initially had a floor price of about 1.99 ETH during the pre-sale period in December last year, by the time it launched on Saturday the floor price had risen to 7.5 ETH. 

As of this writing, it stood at 19.38 ETH according to a dashboard prepared by @Sealaunch on Web3 data and analytics platform Dune Analytics.

Source: Dune Analytics @Sealaunch

The Moonbirds NFT collection reached a high of 21.61 ETH on Monday, before pulling back to the current level late in the evening.

Given its current transaction volume, Moonbirds has already joined an elite class of some of the best NFT collections in the industry including Azuki, Doodles, BAYC, Cryptopunks, Meebits and World of Women.

Moonbirds’ current top-selling NFT went for 150 ETH or $458,478 as of this writing, according to data provided by @Sealaunch on Dune Analytics.

Source: Dune Analytics @Sealaunch

Moonbirds NFT collection’s magnificent debut may be down to the PFP wave or the popularity of the team behind Proof Collective. However, according to the Proof CEO, there is more to the project than just a collection of NFT characters.

Like Yuga Labs, Proof seems to have a clear plan for the project, which could be why NFT enthusiasts are drawn to the Moonbirds collection.

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