Why Moonbirds is MOONING

Hey everyone, I hope you all had an amazing Easter weekend for those who celebrate it! I wasn't planning on skipping out on this weekends newsletters but I ultimately got caught up spending time with friends and family. I hope you all didn't miss me too much!

Nevertheless, I'm here and ready to get back in rhythm! On to the news!!!

- Hunter Maier

🦉 Moonbird's OUTRAGEOUS run up!

📉 There crypto goes again...

🏀 NBA Playoff NFTs?

• Moonbirds - Floor Price: 19.64 ETH

• Murakami.Flowers Seed - Floor Price: 5.2 ETH

• Shinsei Galverse - Floor Price: .184 ETH

• Proof Collective - Floor Price: 99.99 ETH

These little guys just became Web3's newest blue-chip NFT.

Moonbirds is a new NFT collection created by the team at Proof Collective; in just two days, the project currently sits atop OpenSea's ranked collections with a floor price of 19.64 ETH and 66.5K traded volume. For reference:

• Doodles: 104.9K Total Traded Volume

• Cool Cats: 100.2L Total Traded Volume

• CLONE X: 173.9K Total Traded Volume

This begs the question...WHY?!

After some research, here's what I've determined to be the reasons why Moonbirds is currently sitting at a $60,000 floor price:

• Nesting (hold-to-earn) - Holders can "nest" their Moonbird for additional benefits; the longer your NFT is "nested," the more benefits you'll accrue. These benefits come in the form of new tier levels, nest upgrades, enhanced drops, and rewards. At this time, we're not exactly sure what each of those benefits means or what they do.

• Project Highrise (Metaverse) - A "uniquely different" metaverse, with nested Moonbirds getting first access. 

• Team: The team behind Moonbirds, known as PROOF, consists of Ryan LeFevre, Justin Mezzell, and Kevin Rose. LeFavre and Mezzell have collaborated and worked with some of the world's most prevalent corporations. Yet, Kevin Rose, on the other hand, is a different beast. He currently acts as a partner at True Venture; a venture capital fund invested in companies like Ring, Peloton, Fitbit, and more. Prior to where he is now, he founded companies and was an early investor in Twitter, Facebook, and Square. It's safe to say he has quite the portfolio, and with that comes a deep phone book of connections which he intends to use to further PROOF and Moonbird's growth.

• PROOF Collective: PROOF's first NFT collection consists of one thousand membership passes that grant you access to some of the world's most wealthy investors. Like BAYC, PROOF Collective currently sits at a similar floor price (100 ETH). Those who have the capital to invest that kind of cash aren't the kind of degens who complain why their derivative project isn't at 1 ETH yet.

Moonbirds checks the boxes for what a successful NFT project should look like, and that's directly reflected in their floor price. While 20+ ETH is a pretty outrageous number, it's pretty hard to compare Moonbird's utility to others'.

And to think we were getting somewhere...

After breaking below their respective support levels, Bitcoin and other notable coins faced HEAVY bearish price action.

As mentioned previously, there aren't many support zones below where we just broke; we may continue to see some significant continued downside.

As of now, there are no indications as to when a reversal will occur.

Now we wait...

About a week ago, the NBA created a new Web3-based Twitter profile titled @NBAxNFT with the caption "Official Web3 home for the NBA." They opened up their official NBA discord following the announcement. 

Upon joining, members were met with pleasant news of the NBA intending to release NFTs in celebration of the association's entrance into playoffs:

"To tip things off, we're working on an NFT project to celebrate the NBA Playoffs. We're not quite ready to announce the specifics just yet..."

The NBA is by no means new to the space. Some time ago, the association released NBA Top Shots, an NFT collection comprised of some of the league's most notable plays. 

While little to no information has been shared on what the collection will feature, fans are undoubtedly excited. 

If you're interested, you can join the discord here!

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Nothing mentioned in this newsletter is financial advice, we are NOT financial advisors. NFToday was created with the intent to entertain those who choose to read and be a part of the community!