What’s Behind Moonbird’s Wild Success?

Matt here.   

There’s a new NFT on the block … and it’s making moon jumps only a select few anticipated.

Moonbirds launched on Saturday with a total supply of 10,000 NFTs and saw higher sales volume in one day than weekly sales figures for the next nine NFT projects on the list combined.

That means it outpaced NFT industry stalwarts like Bored Ape Yacht Club and Crypto Punks. 

So what’s behind its huge success? And can this pattern repeat with another project in the future? 

Let’s take a closer look at what made Moonbirds moon jump and how we can find the next big thing…

3 Factors That Made Moonbirds Moon Jump

Here are three key things that helped Moonbirds succeed on launch day. 

1. A Founder with a Strong Track Record

When traders evaluate a new IPO, it’s common to research who the CEO is and what he’s done before. Is he popular? Does he have charisma? And is he effective? 

It’s just as important when you consider a new NFT project. You want to know that the person in charge of it has experience. 

For one thing, a star leader will bring more attention to their company or project than an unknown leader can. 

But it’s not just about the star power. You want to make sure they also know the ins and outs of their industry.. They should have in-depth knowledge of all the moving parts. 

Moonbirds is the second large NFT drop from founder Kevin Rose. He’s an experienced founder, VC investor, content producer, and NFT collector. 

He first launched the PROOF Collective, a members-only group for 1,000 NFT collectors and artists. The floor price for a pass currently sits at 97, which is about $291, 836. 

2. Provide Utility, Not Just Another Avatar

It’s no secret that NFTs that can double as avatars have seen huge success. Projects like Crypto Punks and Bored Ape Yacht Club set the trend.

And Moonbirds is definitely ready to be your next quirky avatar as Kevin Rose demonstrated but the perks don’t stop there. 

Each Moonbird holder will get special access to the PROOF Discord where future Moonbird-related drops can also be accessed as well as future in-person events and other upcoming PROOF projects. 

You also get access to further benefits the longer you hold your Moonbird NFT, or “nest” it. These include tier upgrades and, eventually, an upgrade to its nest. 

If a holder is incentivized to hold their NFT for longer periods of time, this creates scarcity in the market. As they gain in popularity, traders will have to pay more for the Moonbirds that are available. 

3. Create a Well-Rounded Team

A founder or CEO can certainly get the most attention when it comes to launching a project, but s/he can’t do it on their own. 

There are many things to consider when creating a team, and you want to make sure the CEO picks people who bring something to the table that the CEO can’t on their own. 

In other words, don’t pick partners just because you like them or they have the same personality as you. Make sure they’re going to help your product or project stand out too. 

When Kevin Rose chose Justin Mezzell and Ryan Carson he created a well-rounded team that brought skills and credibility he couldn’t on his own. 

Mezzell is an experienced artist, illustrator, and product designer while Carson is the former CEO of Treehouse –– a popular online coding class platform. 

As a trader, make sure to look for projects with a well-rounded and experienced team that knows how to handle the demands of high-volume tech projects. You don’t want to go with someone that could bungle up a transaction or create an unknown glitch due to inexperience. 

Conclusion

Even though NFTs are a new industry, they follow a lot of the same rules that traditional companies do. 

And when it comes to understanding hot new trends in business and tradeable assets, Tim Sykes is the OG teacher I can get behind. 

In fact, his exclusive NFT Club called out the Moonbirds play. Drop your email here for notice when he reopens access. 

Sykes is hosting another cool special on Earth Day, Friday, April 22, and it’s gonna be just as jam-packed with actionable NFT trading know-how. NFT Club members get advanced notice –– one more reason to join the cool traders club.