There is always at least one project in the NFT space that is causing a buzz. Moonbirds is currently the most traded NFT token collection on OpenSea, with over 73,000 ETH volumes.
Moonbirds NFT token collection soars after launch
The latest NFT token buzz talking Web3 enthusiasts is Moonbirds, a 10,000-pixel collection of digital owls that live on the Ethereum Blockchain. Moonbirds went live with a much anticipated press event on Saturday and most of the tokens were sold for 2.5 ETH. The team behind the project raised approximately $66 million from the initial sale and also took a small deduction from each secondary sale.
Trading volumes for Moonbirds have skyrocketed in secondary markets like OpenSea in the three days since its launch. The NFT token collection was traded on OpenSea with over 73,000 ETH. That’s more than any trades collectibles like CryptoKitties, CrypToadz, and World of Women have seen in their entire lifetimes. As we mentioned in the cryptokoin.com news, high trading volumes are generally considered a positive indicator for a project to grow, as it shows where the market interest is.
Moonbirds is designed as a “profile picture” project for PROOF, another popular NFT token startup that came to life earlier this year. In the days following the launch, NFTs jumped to a base price of over 20 ETH. The cheapest NFTs in the collection are currently trading for around 16 ETH, or just under $50,000, while rarer pieces have sold for over $300,000.
While hype is certainly a factor in the dazzling prices of digital birds, market participants are also betting on the team’s future plans for the project. The Moonbirds team, led by Kevin Rose, says Moonbirds are ‘more than just an avatar’ and will offer benefits to their owners.
However, details have not been talked about much so far. Interestingly, to avoid floor price manipulation, Moonbirds team member Ryan Carson announced that the team will soon roll out a feature called ‘nesting’ that repurchases all NFTs listed below the current floor price in response to issues other projects are facing.
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