A new Ethereum-based Non-Fungible Token (NFT) project, Moonbirds, is soaring to the top of the NFT trading volume charts after generating approximately $292 million worth of sales in just four days after its launch.
Moonbirds is an NFT set that consists of 10,000 computer-generated pixel owl avatar NFTs in total, which were all promptly sold out on April 16 for a mint price of 2.5 Ether (ETH) per NFT, or $7,625 at current prices.
According to data from CryptoSlam, the project has generated more than $291.8 million worth of secondary sales (figure also includes mint sales). The figure places the project as the top-selling NFT collection over the seven-day metrics and third over the past 24 hours, as of the time of this writing, according to DappRadar.
What you should know
The floor price (minimum average sale) has since exploded on secondary markets, with OpenSea currently showing a hefty sum of 18.18 ETH ($55,450), from the mint price of 2.5 ETH, which shows a 627.2% growth in 4 days.
Looking at the 30-day chart, the gulf in volume is notable, with Moonbirds’ NFT sales figures a whopping 52% ahead of second-placed Azuki and its $189.3 million worth of volume, and 76% of the BAYC at $164.6 million.
Data from DappRadar highlighted that the Moonbirds #7963 NFT fetched the eighth-largest sale of all NFT collections in the last 7 days at 135 ETH ($411,750).
The Moonbirds project is following a similar route to the Bored Ape Yacht Club (BAYC) by launching utility focused NFTs that grant holders access to a private ecosystem and membership clubs.
According to the project’s roadmap, hodler benefits will include priority access to future drops, a membership club, merchandise, and early access to an upcoming Metaverse platform named “Project Highrise.”
The Moonbirds NFT collection was founded by the PROOF Collective, which is working on several NFT projects and also acts as an exclusive social club for the 1,000 holders of the PROOF Collective NFTs. The collectible membership passes have an eye-watering floor price of 91 ETH ($278,800) at the time of writing.
Moonbirds’ impressive launch is as a result of notable investors who are backing the founding members of the PROOF Collective, which includes tech entrepreneur and Digg founder Kevin Rose along with web3 investors Justin Mezzell and Ryan Carson.
An NFT collector who goes by “Cryptolocity” on Twitter highlighted Rose yesterday, noting that they backed the project due to his strong reputation, connections in the web2 and web3 worlds, along with his NFT focused podcast which has “contained some of the most life-changing ‘alpha’ for his listeners.
Data from CryptoSlam reveals that there are currently over 13,800 active wallets and 6,655 total owners. It also reveals a trade win rate of 98.28%, with 4,446 winners and 78 losers. The project has also generated a total gas fee of 902.98 ETH since its inception.
Download Nairametrics App for breaking news and market intelligence.