An NFT from the Moonbirds collection is sold for more than $1 million The non-fungible tokens show 10,000 different and peculiar owls. Each one comes loaded with exclusive benefits for its owners.

By Entrepreneur Staff

entrepreneur daily

This article was translated from our Spanish edition.

mundissima | Shutterstock

Moonbirds has quickly become one of the most popular collections of NFT's in the world. Launched just a few days ago, it has managed to stand out in a competitive environment where many things tend to go unnoticed . The collection launched on April 16 consists of 10,000 digital pieces that show different owls that, in addition to serving as profile images, grant their owners access to an exclusive private club, as well as additional benefits the longer they are owned by a same user. Moonbirds was designed by the startup Proof , which is owned by Kevin Rose , one of the partners at True Ventures .

Although there are those who claim that the NFT market has eroded, one of the Moonbirds NFTs was sold for 350 ETH, which is equivalent to more than $1 million dollars . The purchased was The Sandbox , a company dedicated to creating metaverses. The piece in question is Moonbird #2642, originally acquired by a user namedgueranft for 100 ETH on April 17, just a couple of days after it was unveiled.

According to the CryptoSlam site, the Moonbirds project has generated more than 100,000 ETH ($289 million USD) in sales since the day it was launched. Other pieces such as Moonbird #3904 and Moonbird #5602 have also been sold for very high figures ($902,450 and $885,117 respectively).

Experts say that the success of the collection is due to its design, the reputation of Proof Collective and Kevin Rose, and the buzz that was generated around the project before NFTs were coined. If you are interested in acquiring one of these peculiar birds, you can only do so in the OpenSea marketplace.

HOW DO NFT'S ACQUIRE THEIR VALUE?

Although it can be complex to understand, the key and the value of NFTs lies in the digital certificates that allow the authenticity of a work to be proven. The sales of these digital assets are recorded in block chains or blockchains that contain information about the ownership of the piece and the history of prices and transactions linked to them. What characterizes the NFT's is that they are unique, indivisible, transferable and it can also be shown that they are scarce. To create an NFT it is necessary to "mint" it, that is, convert it into a digital asset on the blockchain, which can be done in some NFT Marketplace OpenSea, Nifty Gateway and Rarible.

Entrepreneur Staff

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