Moonbirds: Everything to Know

By  Beluga Research August 2, 2023

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Summary

  • Moonbirds is a collection of NFT owls, and is the brainchild of entrepreneur Kevin Rose
  • Each NFT represents a distinct and one-of-a-kind digital bird character,
  • These birds often have various traits, attributes, or artwork associated with them
  • Moonbirds NFTs, like other NFT collections, attract collectors who value uniqueness and rarity

Overview

Moonbirds is a collection of NFT owls, and is the brainchild of entrepreneur Kevin Rose. This NFT is a collection of 10,000 different owl avatars. Each NFT in the collection is slightly different from the next, however, they all have the same artistic theme.

There are two reasons crypto investors buy Moonbirds NFTs: The art associated with each digital asset, and the benefits these particular NFTs provide holders. These benefits include "nesting" rewards, enhanced customization options, and special access to exclusive community content.

In addition, NFT holders can be sure these digital assets belong solely to them, have real value and are secure because the NFTs are built and run on the Ethereum blockchain.

A Brief History

The Moonbirds NFTs, a collection of pixelated owls, quickly caught the attention of NFT collectors, crypto enthusiasts and traders. Only a handful of projects have surpassed the initial price floor of the Moonbirds NFTs in the weeks following creation or launch.

In April 2022, during the Moonbirds NFT launch, the highest floor price for "PROOF Passes" reached 130 ETH. On December 11, 2021, the "PROOF Collective Passes" were introduced, and investors purchased 1,000 passes through a Dutch auction with starting and resting prices of 5 ETH and 1 ETH, respectively. The pass sale generated over $7 million, and granted NFT holders exclusive access to various PROOF offerings, including in-person events, a Discord community and early access to PROOF podcast content. The strong interest from different groups of people in the NFT world propelled the Moonbirds collection to rank among the top NFT sets in history.

Kevin Rose, a well-known digital entrepreneur and co-founder of Digg, a social media platform he created in 2004, was not new to the NFT world when he founded Moonbirds. At the time, Rose already owned an extensive NFT collection, one of the first investors to adopt NFT technology when it arrived in the blockchain ecosystem. Rose partnered with Justin Mezzell, a former designer at Modern Finance, for the Moonbirds NFTs design. Moonbirds NFTs' leadership team, headed by Rose, continues to develop a roadmap with an emphatic focus on art and community.

What are Moonbirds?

Moonbirds is a set of 10,000 owl avatars. Each avatar has unique physical traits that differentiate it from every other avatar. These traits can include a combination of different colors, features and accessories, including mohawks and eye patches. The Moonbirds NFT project can be classified as a major component of the NFT Profile Picture (PFP) boom that has recently rocked the cryptocurrency ecosystem. PFPs are profile pictures that celebrities and other NFT enthusiasts display on social media.

Getting Started

Investing in Moonbirds NFTs requires an investor to have enough ether (ETH) or wrapped ether (WETH) in their cryptocurrency wallet to complete a transaction. Popular wallets for connecting to NFT marketplaces include MetaMask and Coinbase. Moonbirds NFTs can be found on marketplaces like OpenSea and LooksRare, under the collections tab. As soon as the investor has connected the cryptocurrency wallet to the preferred NFT marketplace, it is possible to browse and purchase Moonbirds.

Benefits

Moonbirds is not just a pixel art collection, as the NFTs also give collectors and holders amazing incentives. As Moonbirds holders, investors are given the opportunity to "nest" NFTs. "Nesting" is like locking an NFT to prevent it from being sold. During the Moonbirds nesting period, the investor receives exclusive benefits, including prioritized access to other PROOF NFT projects in the future. Every Moonbirds NFT that is nested immediately begins to accrue these benefits.

Moonbirds holders also receive access to an exclusive NFT Discord community. Members of this community receive news about course drops, developments and events about Moonbirds before the general public.

Advantages

  • Nesting for Added Benefits - Nesting is a significant perk that Moonbirds offers holders, and additional incentives begin to accrue immediately after initiating the nesting process. Further, every NFT in the Moonbirds collection has a special PFP design that allows holders to nest the NFTs without moving them from their wallets.
  • High Liquidity and Tradability - Moonbirds NFTs can be sold on any NFT marketplace with ease. This feature makes Moonbirds more liquid than other assets and NFTs that may be more difficult to trade.
  • Ability to Divide - Moonbirds NFTs can be split into smaller portions and sold, making them easier to sell than NFTs that cannot be divided.
  • Uniqueness - Every NFT in the Moonbirds collection has a special trait that separates it from others. The uniqueness makes replicating or counterfeiting Moonbirds NFTs almost impossible, making them more secure than traditional assets.
  • Transparency - Moonbirds NFTs run on the Ethereum blockchain, a public ledger. Everyone on the Ethereum network can see transactions involving all NFTs in the Moonbirds collection.
  • Global Availability - Moonbirds NFTs can be purchased and sold from anywhere in the world. The only requirements are an internet connection and ether or wrapped ether in a decentralized cryptocurrency wallet for the trade.
  • Fast-Growing Community - The Moonbirds project reached an amazing peak a few weeks after launch and is still in the beginning stages. The Moonbirds team's work and effort show that the project has much growth potential, making the NFTs a good consideration for long-term crypto investments.

Disadvantages

  • Project Controversies - One of the major controversies in the Moonbirds NFT project involved Ryan Carson, the COO (Chief Operation Officer) of PROOF Holdings. Even though he was an insider, Carson began purchasing rare Moonbirds NFTs a few hours after it was launched, causing disquiet in the Moonbird community.
  • Questionable Endorsements and Advertisements - To increase the visibility of the Moonbirds NFT project, the team gave some celebrities free Moonbirds NFTs, which is a common strategy in the NFT community. However, this time, these particular celebrities failed to notify the community that their NFTs were gifts when they promoted the projects on social media. This questionable omission prevented most potential investors from buying into the project because they felt that the Moonbirds team was not transparent.
  • Disappointing Nesting Rewards - Nesting is a "soft staking" concept introduced by Moonbirds, with the promise of extra incentives. The project has encouraged community members to nest the NFTs to receive accrued rewards after some time. However, Moonbirds has not delivered the exact rewards expected to some holders during distributions, and not all of the distributed rewards met the value anticipated by holders.