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Kevin Rose addresses Moonbird’s R&D
Moonbirds, the once elite ‘blue chip’ NFT collection of Kevin Rose and the prestigious PROOF COLLECTIVE are struggling. In a recent Twitter space, Rose addressed recent FUD. He also added that The Bored Ape Yacht Club is down more than Moonbirds. This saga was met with backlash from society. Here is everything you need to know.
TL;DR
- Moonbirds, the NFT collection of Kevin Rose’s PROOF COLLECTIVE, is facing significant struggles and backlash from the community, with floor prices dropping significantly.
- Kevin Rose attempted to address FUD in a Twitter space, but his statement comparing Moonbirds to The Bored Ape Yacht Club backfired and fueled more skepticism.
- Moonbirds has a history of controversial incidents, including team members buying tokens, celebrity endorsements, over-promising and under-delivering, and underwhelming tool releases. Community frustration has grown, and major figures in the NFT space are expressing public concern. The future of Moonbirds remains uncertain.
The Rise and Fall of Kevin Rose’s Moonbirds
If you are an NFT enthusiast, then there is no doubt that you would have heard of Moonbirds by Kevin Rose’s PROOF COLLECTIVE. For a long time the Moonbirds were predicted to be the next Bored Ape Yacht Club. However, Moonbirds is currently the most advanced project in Web3.
How did we get here? In short, Moonbirds minted their entire collection at 2.5 ETH per token. Then, in the days and weeks that followed, the floor price “skyrocketed” to the 30+ ETH range. This figure is staggering compared to today’s 2,149 ETH. Naturally, this decline puts Moonbirds at the center of R&D.
Kevin Rose tries to approach FUD
In an effort to address FUD, Kevin Rose hosted one Twitter space titled “NFTs” on May 29, 2023. More than 6,000 eager individuals tuned in to listen to Rose’s insights. In summary, Kevin’s main points were:
- Distributing value to holders via tokens legally is a huge task.
- The true value of Moonbirds holders lies in the long-term appreciation of art.
- Moonbird holders’ expectations of return on investment cannot be the floor price.
- A further emphasis that Moonbirds will not play the hype game anymore.
- Most importantly, Rose stated that The Bored Apes has declined more than Moonbird “dollar for dollar”. Kevin attempted to address the FUD via a Tweet that he had turned off replies and later deleted.
The first four points seem fair. However, the latter point has been met with community backlash and has only added fuel to the R&D fire. The general backlash, especially from the Bored Ape community, is that Ape holders received a 6-figure Apecoin drop, Mutant Apes, Otherdeeds, and more. While Moonbirds holders received socks, fanny packs, canceled plans, operational errors and more. Therefore, Rose’s statement is somewhat redundant in their opinion. Many express that they feel Rose’s actions are unprofessional and show a losing mentality.
A deeper dive into the dark side
Moonbirds are no stranger to controversy. There have been many events in history that have sparked an uproar from the NFT community.
- Just 2 hours after Moonbirds revealed, COO started buying tokens. As a core team member, he would have known the rarity numbers and upcoming marketing plans. Thus, this was considered very shady. Then, 2 weeks later, the same COO left Moondbirds to start his own NFT fund.
- The Moonbirds team gave free NFT tokens to celebrities, who then withheld the fact that they received the owls for free. Celebrity endorsement is a powerful tool for market manipulation.
- The Oddities reveal was a classic case of overpromise and underdeliver. The teams messaging around the Oddities NFTs made them look like they were more important than they are.
- The release of fanny packs was underwhelming. Moonbirds raised over $70 million from the coin alone. Therefore, you can imagine how frustrated the community was when they realized that the tool was a bag.
- Many many more things that can be found on this tweet.
After learning this, it is clear that the recent event and backlash is the result of many past events. The NFT community is getting tired of Kevin Rose and the Moonbirds, and the floor price is a reflection. In addition, many big names in space publicly express their thoughts, and the anti-moonbirds threads is composed. Could this be the end of Moonbirds? I’m not sure. However, remember to check back in for regular updates!
