Have you seen kids copying each other while playing, studying, or just chit-chatting? We all have seen them doing that and even, unapologetically, have done it in our school-going days. It’s a human tendency to follow the crowd in search of gains. When it comes to investment, things are no different as we prefer to go after a safe option anticipating profits. Talking about this, we are trying to draw your attention to the most hyped investment option of the Millennial era- the NFTs.
Popular with their nickname, NFTs are Non-Fungible Tokens or, if simply put, are digital collectibles that allow people to visualize, own, and trade valuable tangible and intangible items. Coming from the family of cryptocurrencies, Non-Fungible Tokens have hit the chord well with youngsters and have emerged as the most remarkable trend in the financial space.
NFTs are digital assets representing real-world items that hold a particular value and worth in the market. They can be anything and everything that one can think of.
Starting from a wall painting to merchandise of your favorite footballer, from a song title to a game asset, from a signature to a tissue from a human body. Learning about NFTs through various NFT online courses has become a popular trend amongst the youngsters who are seeing a pool of opportunities and growth in the field.
The scope of NFTs is endless, making them quite popular amongst investors who look for unique investment options. We can go on for hours bragging about NFTs, but that is not the primary motive behind this article. We are here to give you an insight into one of the most potential NFT projects available in the market called ‘Moonbirds.’ By scrolling further, you will come across all the essential features related to the NFT platform we just mentioned. So, let’s start our reading session:
What is Moonbirds NFT collection?
Comprising an exclusive collection of 10,000 Non-Fungible Tokens, Moonbirds follows the ERC-721 standard on Ethereum’s blockchain ecosystem. Launched on April 16, 2022, the NFTs feature portraits of ‘owls,’ one of the most mysterious members of the nocturnal family. In addition, the collection comes packed with exclusive characteristic elements that make each token a rare piece of investment, having an eccentric touch and personality of its own.
As per the official website of the NFT portal, Moonbirds represents utility-focused PFPs that offer a pool of opportunities for the holders to gain from.
Moonbirds thrives to open new doors for investors looking forward to reaping some profits from the fast-growing NFT domain. Though it aspires to work as a blue-chip PFP cluster, Moonbirds still manages to sustain an element of uniqueness in its core infrastructure and working modules.
The platform stores some exciting surprises for its users willing to risk long-term investment. Each Moonbirds NFT allows users to access the platform’s private Discord server, in-person events, airdrop events, physical goods, etc.
One of the most talked-about features of Moonbirds is ‘nesting’ which helps users lock their collection for a more extended period. The facility makes them gain something extra as a reward for showing patience and keeping their assets locked on the portal. Once the nesting process reaches its completion stage, the NFT will upgrade itself and unlock new benefits and rewards for the owner.
The NFT collection was minted at the cost of 2.5 ETH each. The NFT developers get a fair chance to earn 5% as royalties on each secondary sale made by them. In addition, Moonbirds NFT owners avail full commercial art rights over their holdings. Some NFT experts feel that the project offers an immersive experience of trading tokens while earning juicy rewards in a less-complicated environment.
Who Launched Moonbirds?
Moonbirds NFT collection is the brainchild of the PROOF organization, which is also the creator and supporter of PROOF Collective and Grails projects. Founded by renowned faces of the NFT domain, Kevin Rose and Justin Mezzell, Moonbirds strives to make NFTs more accessible for people. PROOF Collective is a private group comprising 1,000 NFT collectors and artists. The owners who held the PROOF collection tokens got multiple benefits, such as they got a chance to mint two Moonbirds tokens at the time of its launch in the market.
Unlikely, the launch of Moonbirds NFT collection was not a smooth cakewalk. Several controversies created a lot of buzz in the sector, fetching the right hype for the project. However, what garnered the limelight was the entire process adopted by the team for minting the coins. This involved two significant processes mentioned below, have a look:
At first, the controversy got air when the Moonbirds team decided to give a particular advantage to the owners of PROOF NFTs, as mentioned above. As a result, the PROOF token holders earned guaranteed mints of two birds at the project’s launch. This move involved 2,000 Moonbirds NFTs that got reserved for the owners of the PROOF NFT collection.
Further, in the second place, the project caught the unwanted attention of the investors when the team allotted 7,875 NFTs from the collection to the winners who won a raffle. This event gave a new turn to the whole controversy. There were reports from renowned industry experts and researchers who claimed a significant glitch in the minting process. According to the experts, some investors used bots to create more than 400 separate account addresses to execute a Sybil attack on the raffle. A Sybil attack is a malicious threat when one person impersonates to be multiple people simultaneously to conduct his malicious operations. One of the biggest problems arising when building connections within a P2P ecosystem is a Sybil attack. The attacker manipulates the core network and controls the whole channel using various fake identities.
This unfortunate crisis upset the genuine NFT fans who failed to participate in the minting process due to the chaos. The remaining 125 owls NFTs were set aside for distribution by the Moonbirds team. Since its launch, Moonbirds has managed to sustain its hold in the market despite having a controversial start.
Why Invest in Moonbirds NFTs?
Ever since its inception, Moonbirds has managed to sustain its spot in the news section across the global NFT space. The project has emerged as one of the hottest investment topics for NFT fans since the team made the first sales. The recent statistics revealed that the collection had fetched a whopping $364.83 million in sales volume. The sales figures represented nearly 37.85% of the total NFT sales amounting to $963.8 million captured during the last week span.
Though there can be many reasons for this stunning success achieved by the Moonbirds project, the artistic touch infused therein was indeed a big mover in this regard. Each Moonbirds NFT has unique trait elements, with some carrying rarity higher than others. The eye-catching design representing owls clubbed with the trusted market presence of PROOF Collective helped Moonbirds catch with the NFT trail real quick. The hype generated around Moonbirds NFT development much before its official launch proved to be a catalyst for the price charts.
The collection soon surpassed the likes of top-tier NFT projects like BAYC, MAYC, and Cryptopunks in terms of sales volume. The backing of Proof Collective has turned into a boon for Moonbirds. Proof Collective includes big names such as investors Gary Vaynerchuk and NFT creator Beeple as its eminent members. In December 2021, the team initiated the first minting of the PROOF Collective tokens at a price of 5ETH through a Dutch auction. The private members-only Collective allows users to join the group after payment of the membership fee, which stands at 109 ETH. The collection has earned a total sales volume of more than $39 million up until now, according to the data reports.
After completing the Moonbirds public minting round, the collection witnessed a surprising surge in the sales volume. Last week, it held the most significant sales figures on the world’s largest NFT marketplace, OpenSea. During the past five-day span, Moonbirds accounted for 11,170 purchases out of the total 14,723 transactions. Those who think Moonbirds is expanding because of its low price are certainly making a big mistake. The project found itself in last week’s top five most expensive NFT sales.
The current floor price of Moonbirds NFT stands as high as 33.3 ETH, as per OpenSea. After being minted at 2.5 ETH at launch, this figure allows holders to enjoy a 12 times gain in just a week. The constantly growing craze for Non-Fungible Tokens has played a significant role in bringing Moonbirds to the status it is presently enjoying.
How To Purchase Moonbirds NFTs on OpenSea NFT Marketplace?
OpenSea is a trusted decentralized marketplace that specializes in the trading of Non-Fungible Tokens. With its strong infrastructure, the platform has become the largest NFT marketplace in terms of sales volume. The ecosystem allows users to purchase, sell, and store digital collectibles in a safe, transparent, and user-friendly way.
For those, who are willing to buy the Moonbirds collection can quickly visit the official OpenSea website and make their first move. All you need to do is to follow the simple steps mentioned here, take a look:
Visit the OpenSea website. Connect a Web3-compatible digital wallet with the official ecosystem of the trading platform. Some popular options available are MetaMask, Coinbase wallet, WalletConnect, etc.
Post this, users need to fill in their wallets with some ETH or Wrapped ETH (WETH). MetaMask and Coinbase Wallet, allowing asset holders to enjoy seamless crypto purchases. These wallets have an in-built fiat-to-crypto on-ramp structure which makes trading a hassle-free experience for the users.
Now, you can move to the Moonbirds NFT collection and select your favorite pixelated ‘owl.’ Select the buy option when you are ready to make the purchase.
The first-timers can visit the guide section to learn more about how to buy and sell NFTs on OpenSea.
Indulge in NFT training programs and NFT certifications offered by Blockchain Council to sharpen your skills within the thriving industry.
While NFTs continue to sail on the success boat, investors from across the globe are actively participating in innovative projects getting launched in the sector. Today, NFTs have become hot commodities where global icons like Snoop Dog, Justin Bieber, Shawn Mendes, Naomi Osaka, Jack Dorsey, Tiger Woods, etc., are placing their big bets on related projects. The craze for Non-Fungible Tokens has taken a toll on investors.
Seeing this craze for NFTs, we have attempted to help you gain in-depth knowledge of ‘Moonbirds,’ which has taken over the NFT industry in a storm. The project that began with a lot of hype and controversy has successfully become the most-talked-about venture amongst investors. However, the industry experts are seeing a lot of potential in the project, and this can be a significant hint drop for the unraveled success stored in for Moonbirds in the near future.
The trusted backing from the PROOF Collective group is a strong point drawn in favor of the Moonbirds NFT collection. Designed intricately by the team, the initiative strives to bring a perfect integration of art and earnings for the users. With OpenSea, one can easily purchase or sell Moonbirds tokens without worrying about the safety of their funds. The market presence of the collection is likely to grow as the love for NFTs is in full swing amongst millennial investors. The only thing you need to keep in mind is to act prudently when investing in NFTs, as the sector comes packed with its dynamics that include risks and frequent price fluctuations within the realm.