Moonbirds NFT By Kevin Rose & Proof Collective Explodes 840% in 48 hours

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After its launch on Saturday, Moonbirds NFT project, captivated the crypto world over the weekend, setting all-time records for trading volume and becoming the latest collection to achieve blue chip status.

What happened?

Moonbirds fluttered onto the scene at precisely 12pm ET on April 16, at a brain melting 2.5 ETH a pop. A price that in hindsight represented an absolute bargain. As a result, the collection sold out almost immediately and the floor went stratospheric. When the dust had settled just 48 hours later, trading volume was pushing the $200 million mark, and left the floor price sitting at a heady 21 ETH ($60k).

Despite a threadbare roadmap, Moonbirds has achieved more in two days than some veteran collections have in an entire year. The debut put Moonbirds on top of OpenSea’s volume leaderboard not just for the week, but for the last 30 days, ahead of Azuki (50,000 ETH) and Bored Ape Yacht Club (35,000 ETH).

What are Moonbirds NFTs?

They’re a collection of 10,000 utility-enabled PFPs that feature a richly diverse and unique pool of rarity-powered traits. Additionally, each Moonbird unlocks private club membership and  benefits the longer you hold them.

What is Proof Collective?

The collection is the product of an online social club called Proof Collective.  Kevin Rose and two other crypto investors, Ryan Carson and Justin Mezzell, founded Proof Collective late last year as a way to monetize the community around Rose’s crypto podcast. It now bills Moonbirds as the “official PFP [profile picture]” of the group, a way for adherents to express their allegiance online.

In a short video message on Saturday, Rose said the Moonbirds sale made $58 million for an entity called Proof Holdings Inc. – money he sees as a “capital raise” for Proof Collective. (Per the Moonbirds FAQ, Proof Holdings is backed by True Ventures.)

Membership in Proof Collective is limited to 1,000 slots, and guaranteed through a separate collection of 1,000 NFTs (they debuted at 1 ETH each and now go for an eye-popping 98 ETH – $285,000).

It’s essentially the Bored Ape Yacht Club playbook: NFT ownership makes you a part of the community, which gets you special perks and early access to new crypto projects down the line (ka-ching!).

Moonbirds are also built around a special investment mechanism, whereby holders can effectively lock up their tokens in exchange for additional perks. Proof calls this process “nesting,” and claims it will incentivize long-term holding as opposed to day trading and flipping.

Crucially, though, there has been less talk around what Proof actually intends to build beyond the VIP social club framework it already established. Proof has promoted a few NFTs in the past and runs a small Discord server, but its plans for future projects still lack specificity. Among those plans, so far: a series of real-life community meetups and a dedicated metaverse platform called “Project Highrise.”

“We like to under-promise and over-deliver,” Moonbird’s website reads, perhaps a tacit admission that they’re building on the fly.

Proof has only been around for a few months and has gained about 1,000 members (many members own multiple NFT passes). The fact that it managed to raise $58 million in an unstable market speaks to that sense of trust in Rose. (And also, perhaps, to an element of mercenary opportunism.)


The project’s mint came with some controversy, from complaints of a hefty 2.5 ETH (roughly $7,500) mint price to raffle manipulation and concerns of rarity sniping (project leaders buying up rare editions using insider knowledge) by its developers.

More generally, the project’s meteoric rise comes in contrast with an otherwise downtrodden NFT market, in which many top projects have seen a lull or sharp drop in sales over the past few weeks.

Moonbirds’ road map

Moonbirds’ holders are given access to “Moonbird-related drops, Parliament meetups and IRL events” as well as the private PROOF Discord channel, according to the project’s website.

PROOF also has its own metaverse in the works, which it’s calling “Project Highrise,” encouraging holders to “nest” (hold) their Moonbirds for added utility down the line.

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