What are Moonbirds NFTs?
The 10,000 Moonbirds released under the ERC-721 standard on Ethereum’s network on April 16, 2022, can’t be exchanged for cash. The official website says Moonbirds NFTs are “utility-enabled PFPs that feature a richly diverse and unique pool of rarity-powered traits.” The main goal of the project is to become another well-known PFP venture. However, users of Moonbirds have also been given a lot of other benefits. Besides being functional, each Moonbird is also designed to let its owner join a private club, with more perks being added as the bird is held. This very last part is known as “nesting.”
For instance, having a Moonbird also lets you into a Discord group that is only accessible to NFT holders. Once users are inside, they can access private Moonbirds channels with news about future drops, community events, nesting, etc. It costs 2.5 ETH to make each piece in the collection, and the makers get 5 percent of any sales made after the first one. The main website for Moonbirds says that the people who own them also own all intellectual property rights. Less than a week after the mint, the floor has gone through the roof at 36 ETH, worth about $108K. This is because people eagerly await the building feature to become available.
What is Nesting?
The distorted look of Moonbirds has stood the test of time in the cryptocurrency community. They are also designed so that users can lock them up and nestle them without leaving their wallets. The Moonbird will start getting more benefits as soon as it is nested. As the total nesting time builds up, users will see their NFTs reach new tier levels, which means their nest has been upgraded. When this was written, nesting wasn’t possible, but the team said they would make it happen as soon as possible.
Who Created Moonbirds?
Let’s learn more about the people who work on Moonbirds since we’re already talking about the team. The group in charge of the collection is PROOF, and they are also behind the Grails and PROOF Collective projects. Kevin Rose and Justin Mezzell, two well-known people in the NFT world, started the group. After the mint, Rose put up a video on YouTube in which she said they would use the money from the sale to make PROOF a well-known and trusted media business.
In any case, PROOF Collective is also a gated society that can only be entered by the first 1,000 people who own a PROOF Collective NFT. At the time of this writing, the lowest price for one of these is 140 ETH, which is about $420K. At its core, PROOF Collective is a closed group of 1,000 artists and people who gather NFTs. Holding the PROOF Collective NFT has many perks, and minting two Moonbirds during the launch was one of them.
The Moonbirds NFTs Launch: Controversy and Beyond
Just like every other highly anticipated product release, the Moonbirds were met with criticism. The first step in unboxing is learning about the minting process used for the collection. First, all holders of the PROOF mentioned above Collective NFT were provided with two guaranteed bird mints. There will be 2,000 Moonbird NFTs in all as a result of this.
Second, 7,875 Moonbirds were given away as prizes in a raffle, which has sparked some debate. Some individuals used bots to generate over 400 accounts, and Sybil Attack the raffle, as exposed by renowned Bitcoin researcher Zachxbt. Many in the community stated that there is no reason why this couldn’t happen, but it undoubtedly left a bad taste in the mouths of honest users who were prevented from minting as a result.
Why Do People Buy Moonbirds?
There is little doubt that Moonbirds have been this week’s most talked about NFT team. More than 100,000 ETH, or slightly less than $300 million, changed hands in the collection’s six days of trading, making it the most actively traded group in the world within that time frame. Multiple factors appear to be driving the unprecedented level of curiosity. Among these is unquestionably art. Some characteristics of moonbirds are more common than others. As a result, the subsequent Moonbird NFT might sell for 265 ETH. There has been a lot of buzz about Moonbirds because of its unique design, the credibility of PROOF Collective, and the significant attention the project received before the mint.
How to Buy Moonbirds NFTs on OpenSea?
It’s as easy to buy Moonbirds NFTs on OpenSea as it is to buy any other NFT on the site. To do that, you need to find the collection. This is the only link that works for OpenSea. Once you get there, you’ll need to connect a Web3 wallet. MetaMask and Coinbase Wallet are the most famous ones. Once your bank is linked, get some ETH or WETH (Wrapped Ether). There is an on-ramp from cash to crypto built into the Coinbase Wallet. This makes it easy to buy crypto. MetaMask can do the same things.