There has been a 30% rise in the collection’s floor price in the last day.
The once-popular NFT collection Moonbirds is trying to turn things around after a long decline by taking a different artistic approach, ditching its CC0 copyright licensing, and relying on Otherside, Yuga Labs’ metaverse.
“You must have a protagonist. A persona that you have complete control over,” the Moonbirds X account said.
Today marks the beginning of Moonbirds’ status as a commercially rights-holding collection, joining Mythics. Good for you if you’ve created anything during the CC0 period. However, in order to continue doing so, you will be required to possess a Moonbird moving forward.”
When the news broke, Moonbirds took flight. Following the release, there was a surge of activity, with 317 sales in the preceding 24 hours, causing the floor price of the collection to soar from 0.57 ETH ($1,800) to 0.74 ETH ($2,350).
A co-founder of Moonbirds and the current Senior Art Director of Yuga Labs, Colin Hesterly, will spearhead the revamped visual style of the project.
Nearly two years have passed since co-founder Kevin Rose made the unexpected statement on Aug. 4, 2022, saying, “We feel this step honours and respects the principles of the internet and Web3 and opens a new and significant phase of the project.” In that article, Rose described the decision to stop Creative Commons licencing.
Last week, Yuga Labs underwent a substantial reorganisation, ending its precipitous decline from its $4 billion ecosystem valuation. Previously renowned for its Bored Ape Yacht Collection (BAYC) NFTs, the business is currently concentrating on its metaverse endeavour, Otherside.
In February, Yuga Labs bought Moonbirds and other assets from Proof Collective. Yuga has created some of the top Web3 communities, and their ambitions for Otherside are commendable in every respect,” wrote co-founder Kevin Rose back then. It was an obvious choice to let Moonbirds live on the other side and flourish in the Yuga environment.
Like previous NFT initiatives, Moonbirds is aiming to bring actual collectibles to market. One such project is Pudgy Penguins, which has been selling well in Walmart shops throughout the US since its launch.
Also Read: Market Dynamics Influenced by DTCC’s Announcement of Crypto ETF Collateral Exclusion
