Today we continue to talk about the projects in the NFT series. Today we are also talking about the top 10 projects in terms of total sales. We have to pay attention to the leaders in any field. Because NFT is a big market, we have to pay attention to at least 10 to start. Today we are talking about Moonbirds. Currently, all major trading platforms are also in the top 10. The total transaction volume on Opensea has reached 340K ETH, and we have emphasized many times before that high-quality NFT is an eth beneficiary amplifier. Let’s take a look at the potential of this project today.
Introduction
In April 2022, Moonbirds is the second PFP NFT collection issued by PROOF COLLECTIVE, with a total of 10,000 copies. Each NFT has a pixelated owl character with random features and characteristics. It is also issued on the Ethereum chain.
Like Bored Apes, Moonbirds holders own the intellectual property and can use their image to create products, services, merchandise, etc. They also have access to a private community called the PROOF Collective.
Number of Moonbirds: 10,000, of which 2,000 are provided to Proof Collective holders, each of whom will be entitled to mint two for free. 7,875 are used for auction, 125 are reserved for the team, and 7,875 are allocated to users who win the PROOF Collective membership draw. Price: 2.5e-0.1e (Dutch auction). The current floor price is around 1ETH, and the peak floor price was 30ETH.
The rights of holders are:
Firstly, Moonbird holders will have access to the Proof Discord, which means a chance to interact with the Proof founders and the rest of the team. Since Proof’s membership includes some of the biggest names in the NFT space, this is a great opportunity for people to connect and learn more.
Secondly, Moonbird holders will also get access to Moonbird related product launches, meetups, and offline events. You will also have access to future Proof projects, including the upcoming metaverse platform Project Highrise.
PROOF Collective Team
The PROOF Collective team consists of Kevin Rose, Ryan Carson and Justin Mezzell, all well-known figures in the Web2 and Web3 fields.
Kevin Rose is a partner at venture capital firm True Ventures and the host of the Proof and Modern Finance podcasts. He previously founded the social news site DIGG, the intermittent fasting app Zero, and the meditation app OAK. His PROOF podcast gave rise to the Proof Collective club.
Ryan Carson is a renowned entrepreneur and investor, founder of three companies and a nonprofit community.
Justin Mezzell was a freelance illustrator before joining PROOF. His clients include Google, Facebook, Twitter, PayPal, NASA, and the New York Times.
PROOF NFT
PROOF released 1,000 access token NFTs through a Dutch auction in December 2021, with a starting price of only 5 ETH. Then this NFT was hyped quickly, and in May 2022, the floor price reached 120 ETH, or about US$338,000.
Why did it rise so sharply at that time? Because their operation was quite good. First, with this NFT, you get a ticket to the PROOF Collective community. It is a private NFT community of top collectors and artists with many bigwigs, a bit like a private board of directors. The official website has a dashbord where you can see the status of these holders. These 890 people hold 308 CryptoPunks, 139BAYC, 2400ArtBlocks, etc. Second, people who bought this NFT at that time could enter the community lottery, and the average reward was 5ETH, which was worth the money. Of course, the highest prize was 80ETH (a very small proportion), and the lowest was 2.5ETH. Third, with this NFT, you will also be eligible for the whitelist of future NFTs. For example, the second moonbirds he issued is worth 2.5ETH. So at that time, anyone who could buy it made a profit. Of course, he has already launched many projects, and they are all performing well.
Metaverse Project: Highrise
moonbirds' next project, codenamed Project Highrise, is a focused and novel take on the Metaverse.
Why is Moonbirds successful?
1. PROOF COLLECTIVE Member
When moonbirds was issued, the floor price of PROOF COLLECTIVE was about 80 ETH, but Moonbirds only required 2.5 ETH, and also had the right to enter the PROOF COLLECTIVE Discord.
2. Nesting
Moonbirds holders can Nest their Moonbirds NFTs, which can be understood as Staking, to get more rewards or airdrops.
3.Oddities nft
They subsequently airdropped Oddities to people who nested moonbirds, working in collaboration with Gremplin on the design. Each Oddity comes from a single moonbird, plus some randomly assigned new traits and features. While the Moonbirds and Oddities communities overlap to a large extent (ownership of one will give you access to the Discord channel of the other), Oddities is developing its own world and atmosphere.
4.MYTHICS
This Mythics Eggs is a series of official activities launched in March 2023. It is also an airdrop reward given by Moonbirds after staking. Depending on the length of your staking time, there will be different types of eggs. Each egg contains a mythical soul, which will be released by the flames of the Magic Furnace.
There are three types of eggs: Legendary, Rune, and Stone. A Legendary egg can spawn three Mythic forms; it will be up to the miner to decide which form their Mythic will take. Rune eggs have two potential forms, while Stone eggs only have one.
Your chance of getting a Legendary Egg decreases the longer you claim the egg. Eggs claimed within the first week of the first Diamond Nest being hit have the highest chance of getting a Legendary Egg (60%; the rest are Runes). Those claimed after the first week within the first month also have a higher chance (Legendary 40%). After that, you're more likely to receive a humble Stone Egg (20% Legendary; 60% Runes; 20% Stone).
As for the subsequent egg opening, or what the myth he described is, it is still unknown at present and we will have to wait until the egg is opened to find out.
5.Talons
Talons is a rewards system created for community members in the PROOF ecosystem.
6.Luna Society
They also formed their own community, which they called the Moon Hall, which is used by community members to submit proposals.
7. Others
They also run some mall peripherals, exhibitions, etc.
Financing
In August 2022, NFT agency Proof Collective received $50 million in Series A funding, led by a16z, with participation from Collab+Currency, Flamingo DAO, SV Angel, VaynerFund and 776. Among them, Alexis Ohanian's venture capital company 776 led a $10 million investment in Proof in April.
Revenue calculation
The sale of NFT, 1000 PROOF NFTs, each for 5 eth, means 5000 ETH were sold, the total transaction volume is 34000 ETH, and the royalty is 7.5%, so the royalty income is 2500 ETH.
Let’s look at Moonbirds’ income, 2.5 ETH, 10,000 is 25,000 ETH, the total transaction volume of opensea is 340,000, and the royalty is 5%, so the royalty income is 17,000 ETH.
So the total is 5000+2500+25000+17000=49500 ETH, I will calculate it based on 2500 USD (ETH should be higher than 2500 USD at that time), so there is 120 million USD in revenue. (Other NFT trading platforms are not included here, so the actual revenue will be even higher)
This income is definitely not comparable to Azuki or BAYC mentioned earlier, but it is not bad either, with an average annual income of 60 million US dollars (this income capacity has actually exceeded the revenue of most top DEXs).
Finally, let's summarize this project. Through a series of operations, the project first launched 1,000 membership benefits like the concept of bank black cards, attracting the initial seed users. Of course, these seed users will definitely not lose money, because the subsequent speculation is very high, and of course the benefits given to these 1,000 seed users are also very high. The second project, moonbirds, sold well, and then through a series of methods, such as what they call nesting, which is actually staking, and then giving you rights and benefits, just to reduce circulation and raise the floor price. Nesting is naturally a bird can lay eggs. The time you build a nest will give you different eggs. It is a series of airdrop rewards that stimulate users to hold it. Although the current floor price of this PROOF NFT has reached 2 ETH, which is lower than the issue price at the time, the subsequent activities may not be so powerful, so everyone sold it. If the project party wants to continue to operate, it must make up a better story and linkage below, and cannot keep airdropping. For specific NFT strategies, we still talk about it in the planet, and the public channel is still mainly popular science!