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Assessing the odds of bourgeois Moonbirds NFTs taking over BAYC, MAYC

Assessing the odds of bourgeois Moonbirds NFTs taking over BAYC, MAYC

As per the latest tweet by Dune Analytics, approximately 8,937 Moonbirds are now in their “nesting” period. According to the OpenSea website, the NFT currently holds the first rank with a trading volume of ETH 44,969 in the last 24 hours and approximately 6.4K owners at the time of writing.

The hype around “Nesting eggs”

Once owned, Moonbirds go through the process of nesting, wherein the bird will be locked up in the owner’s wallet and would continue to stay there for a predetermined period of time.

The process of nesting will accrue added benefits for users, and depending on the time of nesting, users will be able to upgrade their nests leading to enhance drops and rewards.

In this context, it should be noted that the Bored Ape Yacht Club (BAYC) and the MAYC followed a similar pattern when they airdropped ApeCoins for the NFT owners to claim for free.

Similar to the Yacht Club, owners of Moonbirds too have access to a PROOF discord, private club memberships, and access to new PROOF projects.

The floor prices of the BAYC and MAYC NFTs skyrocketed after the organization announced that it would airdrop 15% of the ApeCoins to NFT owners.

The NFTs not only topped the charts after the token was launched but also witnessed the most number of sale activities. Furthermore, the price of the BAYC and MAYC NFTs soared up to 106.5 and 23.65 ETH respectively.

The price of the Moonbirds NFT is also expected to skyrocket considering that PROOF is expected to launch its own metaverse, Project Highrise, in the coming future followed by the anticipation of rewards and exclusive benefits given to Moonbird owners.

Let the floor price do the talking

According to OpenSea, the current floor price of BAYC is 147 ETH, and MAYC has a floor price of 47 ETH, whereas the floor price of Moonbirds stands at 34 ETH. This is after only 10 days of the token being launched.

The current trading volumes of these three NFTs are 113.2K ETH (Moonbirds), 340.4K ETH (MAYC), and 510.1K ETH (BAYC) respectively.

Looking at the fine print of how Moonbirds and the Yacht Club NFTs function, it can be stated that the full-proof way to get an escalated sense of popularity clubbed with driven sales and an ever-increasing price trend is to offer “exclusivity”.