Moonbirds NFT Collection Soars
White Star Capital Digital Asset Fund - newsletter #80
What is Moonbirds collection?
Moonbirds is an NFT collection of 10,000 owl avatars. It is one of the fastest collections to reach bluechip status in terms of floor price. Moonbirds was launched on April 16 by Proof, a media startup.
Moonbirds' quick success has been driven by several factors: founder Kevin Rose; the success of his previous Proof Collective project; and collectors currently opting for NFT projects with a successful track record.
Explosive growth in both Transaction volume and Price
Moonbirds NFTs have clocked in a total sales volume of nearly $360 million in just over a week, according to The Block Research, citing data from Dune Analytics. Its top 10 highest sales range between $397,000 and $1 million.
Sales of the collection accounted for nearly 40% of OpenSea trading volume between April 16th and April 20th. That’s a lot of volume. Indeed, Moonbirds generated more secondary sales this week than blue chip NFT collections like Bored Apes and Azuki mustered in the past month.
These NFTs were minted last December starting at a price of 5 ETH via a Dutch auction. The current floor price of these NFTs is 109 ETH, according to OpenSea. Moonbird #2642, one of the rarest members of the Moonbirds NFT collection, sold for a record 350 ETH (over $1 million) on the NFT marketplace OpenSea on Saturday. The buyer of the piece was The Sandbox.
What is the NFT’s utility now and in the future?
For now, Moonbird holders can access the private PROOF Discord server, receive Moonbird-related drops and attend in-person events. They can also access upcoming PROOF projects, including the PROOF metaverse, codenamed Project Highrise.
Thanks to Moonbirds, the pass has more than paid for itself – each Proof Pass holder could mint two free Moonbirds, accounting for a fifth of the NFT collection’s total supply.
Then, Moonbirds is launching a new feature called "nesting" where holders can stake their NFTs in a non-custodial way and earn additional benefits. Depending on how long holders lock up their NFTs, they will achieve different status levels, Rose explained in a recent video.
🔦 White Star & Portfolio Spotlight
Liquality partners with Polygon
Liquality will use Polygon and offer cross chains swaps and swaps within wallets
Index Coop launches NFT index, JPG
The JPG index provides passive exposure to top NFT collections
🏦 Enterprises & Institutions
Stripe enabling crypto payments in USDC
Stripe will start rolling out this service to Twitter creators and use Polygon network
Coinbase NFT marketplace in live beta
Coinbase is aiming to take market share of the growing NFT market
Aptos partners with Google Cloud for infrastructure
Aptos a Layer 1 will utilize Google Cloud for scaling and infrastructure
⚖️ Government & Regulation
Macron encourages innovation within the web3 space
Macron hopes that EU regulation will take a pragmatic approach towards innovation
💰 Funding & Exits
Bastion, a NEAR lending project, raises $9M Series A
Near lending and stablecoin swap protocol raises a round led by Three Arrows
CertiK raises an additional $60M at a $2B valuation
CertiK a provider of smart contract audits extends it Series B3 round to include additional demand
Sandbox plans to raise $400M at a $4B valuation
The metaverse gaming based startup is gearing up for a new round
LimeWire raises $10M in token sale to grow music NFT platform
Limewire will focus on music NFT platform
Rario, an NFT platform for Cricket, raises $120M
Rario aims to help Cricket fans engage with their favorite teams
Scroll raises $30M for an Ethereum scaling project
Scroll will use zk-rollup tech to scale Etherum
🚀 Project Launches & Updates
Framework Ventures raises $400M fund focused on blockchain gaming
Half of the capital will be deployed in growing blockchain gaming space
KuCoin launches a $100M fund to support early-stage NFT projects
KuCoin Creators Fund is aimed at the NFT projects
🔥 Other Bits We're Excited About
NFL releases Draft NFTs using Flow
The virtual ticket will serve as a collectible for each team