Basic info
Last updated: Sep 21, 2023
Moonbirds is a captivating collection of pixel-art owls, forming an NFT (Non-Fungible Token) series. The brainchild of esteemed U.S. entrepreneur Kevin Rose, Moonbirds is a part of his innovative PROOF Collective. This private organization is a hub for NFT collectors and artists alike. Importantly, ownership of a Moonbirds NFT entitles the holder to Intellectual Property (IP) rights over that particular piece.
Moonbirds made its grand debut on April 16, 2022, through a three-part distribution model. Initially, 2,000 NFTs were reserved as freemints for the 1,000 members of the PROOF Collective, equating to two tokens per member. Subsequently, 125 NFTs were set aside for community admins, to be used for promotional activities and partnerships. Finally, a public sale was conducted featuring 7,825 NFTs earmarked for whitelisted addresses. Any unclaimed NFTs were offered to 3,000 randomly selected users on a waitlist. Utilizing a Dutch Auction mechanic, the Moonbirds mint price started at a substantial 2.5 ETH ($7,650.70) and was designed to decrease over a six-hour span to 0.1 ETH ($306.02). However, all pieces were snapped up within eleven minutes at the starting mint price.
The Moonbirds collection consists of 10,000 unique NFTs. A 5% creator fee is levied on secondary sales, and these revenues are reinvested into team growth and new product development.
The Moonbirds collection operates on the ERC-721 token standard and comprises 116 possible traits, including different backgrounds, beaks, bodies, eyes, eyewears, feathers, and headwears. For instance, the rarest Moonbird, #8398, is distinguished by its 'Legendary Guardian' and 'Legendary Brave' feathers—traits found in only 0.04% of the collection.
The project is helmed by Kevin Rose, who has co-founded multiple successful ventures and currently serves as a partner at True Ventures. He is joined by Justin Mezzell, an accomplished artist and Chief Product Officer at PROOF. Other noteworthy members include Director of Engineering Ryan LeFevre and former COO Ryan Carson, who controversially bought Moonbirds worth $580,000 at launch before leaving to start his own venture.
With over 17,000 Discord members and a Twitter following exceeding 209,000, the community is vibrant and engaged.
Funding rounds for PROOF Holdings Inc., the parent organization, have amassed significant capital, notably a $10 million Seed round led by Seven Seven Six and a $50 million Series A spearheaded by Andreessen Horowitz.
Moonbirds DAO, officially known as the Lunar Society, aims to be a global leader in the NFT "PFP" space. Its mission is to support projects that elevate the Moonbirds and Mythics brands both within and outside of the NFT community and to deliver a wide range of experiences and products to token holders. The Society’s treasury is funded through various means, including an initial $2 million cash injection, 7 Moonbirds from the PROOF treasury, $500,000 worth of Moonbirds bought on the open market, and 35% of secondary royalties from Moonbirds and Mythics.
Voting within the society is limited to Moonbirds and Mythics holders. Moonbirds have three votes per NFT, while Mythics have one, maintaining Moonbirds' majority voting power. Proposals for new projects are discussed in dedicated Discord channels and "shark tank" style Town Halls. Voting occurs every other week and is facilitated through the proof.xyz platform.
For builders and creators, proposed projects must meet at least one of three criteria: elevate Moonbirds' standing in the web3 community, extend the Moonbirds and Mythics brand beyond web3, or directly benefit token holders through products or experiences. Approved projects may receive up to $50,000 in funding and can gain access to Moonbirds' trademark for specific use cases.
The proposal process is straightforward, involving ideation, application, voting, KYC and background checks, and finally, project delivery. It allows for community input and voting, requiring not only a majority approval but also a minimum number of votes for a proposal to pass.
Holders of Moonbirds NFTs enjoy a range of benefits that extend beyond mere ownership. They can customize their Moonbird avatars based on wallet holdings or achievements within the PROOF ecosystem. Additionally, they gain membership to the Moonbirds community across various platforms, including Discord, Twitter, and the PROOF art platform.
The community offers both digital and in-person events where holders can network and engage with like-minded individuals. The schedule for such events is made publicly available. Nesting rewards provide exclusive goods that celebrate the length of time a holder has owned their Moonbird, adding a gamification element to the experience along additional Moonbird value.
Moonbird holders also have access to exclusive art and collectible drops, ranging from Oddities and Mythics to special exhibitions. Lastly, they can become members of the Lunar Society, which serves as a platform for community-supported projects and creative entrepreneurship related to Moonbirds and Mythics.
The Moonbirds ecosystem expands further with the introduction of Mythics—a new layer of complexity and engagement. Participants can delve into the Hearth of the Odd God to claim Mythic Eggs, each harboring potential to unleash a Mythic being. The process involves various steps, from claiming an egg based on your Moonbird’s Diamond Nest status to awaiting its activation and eventual hatching.
The intricate lore sets the stage for these Mythics. According to legend, the Moonbirds and the Oddities must unite to release the Mythics sealed within the eggs. These newly-unearthed beings are the Moonbirds' only hope against an ancient malevolent force known as the Dred. The stakes are high, as the very existence of their world, Volaria, and the Yrgtree that houses them is at risk.
The Mythics come in various forms, determined by the type of egg one has:
Claiming an egg is merely the beginning. Eggs become "activated" when the Hearth ignites, and only activated eggs can be hatched into Mythics. Once your egg is activated, you're notified via email, assuming you've opted in for such alerts.
But the Mythic layer adds more than just creatures; it introduces a sacrificial element. Holders can choose to sacrifice their Oddities to gain a Mythic. Once the Hearth of the Odd God awakens, up to 50 Oddities can be sacrificed per day to attain a Mythic.
Utility and engagement within the PROOF ecosystem are reserved for hatched Mythics. They have specific roles, from participating in Lunar Society proposals to accessing dedicated Discord channels.
Plans are afoot to launch a metaverse project named Highrise, which will integrate closely with the Moonbirds universe. Revenue generated from Moonbirds is also slated to fund a new media company.
Prospective buyers can acquire Moonbirds NFTs on platforms like OpenSea, LooksRare, and Rarible. As of this writing, the floor price stands at 1.2 ETH, thus the cheapest Moonbirds NFT is worth about $1,933. The most expensive Moonbirds NFTs sold recently was worth 9 ETH.
Smart Contract Address: https://etherscan.io/address/0x23581767a106ae21c074b2276d25e5c3e136a68b
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Last updated: Sep 21, 2023
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