Kevin Rose's PROOF Collective launched Moonbirds, an Ethereum NFT project, on Saturday. To date, the project has generated $280 million in sales, including the initial bitcoin mint.

As of April 16, there were only 10,000 computer-generated pixel owl avatar NFTs available for purchase, which sold for 2.5 Ether per NFT, or $7,700 at current prices.

Moonbirds is launching a utility-focused NFT that grants members access to a private ecosystem and membership club, similar to the Bored Ape Yacht Club (BAYC).

In addition to hodler benefits such as priority access to future drops, a membership club, merchandise, and early access to a new Metaverse platform known as "Project Highrise," the project has outlined several other benefits as well.

The impressive launch of Moonbirds is probably due to the strong backing provided by the PROOF Collective, which includes Digg founder Kevin Rose and web3 investors Justin Mezzell and Ryan Carson.

Over the weekend, sales of Moonbirds on secondary markets skyrocketed, with NFT marketplace OpenSea reaching its highest trading volume in more than two months, topping $177 million in Ethereum trades on Saturday, according to the data.

“Moonbirds is one of the first majorly successful (so far) projects that are unashamed about what it is. Kevin [Rose] and Ryan [Carson] have been very clear that they're raising money, that they're not ‘selling art’, that they'll treat the money as funds to build a product, etc,” Grant Tree founder Daniel Tenner wrote on Twitter.

The cheapest Moonbirds NFT currently listed on the market is 19.8 Ether, or about $59,000. One NFT in the collection, Moonbirds #7963, sold for 135 Ether (over $403,000) on Sunday, while two other NFTs are now trading at 130 Ether each.

In the past seven days, Moonbirds have dominated the NFT market, with CryptoSlam generating eight times more trading volume than any other collection.

Pavan A

CBW - External Analyst

INDIA