Another day another NFT project, pixelated owls are the vibe.
According to their website, the PROOF Collective is a private members-only community of 1,000 dedicated NFT collectors and artists. Membership can be acquired by buying the PROOF NFT. Only 1000 were created, so this is a very tiny community, but with a floor price of 68ETH, you had to either be early or just early to get this one. The project was allocated through a dutch auction, with the price starting at 5ETH and decreasing over time to 1ETH.
Luckily for the rest of us, PROOF NFT is a card, and no one wants to use it as a PFP yet. Because of the previous rush, the PROOF collective hunkered down and created Moonbirds, a PFP NFT. All with the purpose of onboarding people into their exclusive community. Moonbirds is a collection of 10,000 utility-enabled PFPs with a rich and diversified set of rarity-powered traits.
Moonbirds project will be available to mint on the 16th of April. Each wallet will only be allowed to mint one Moonbirds. The best part is that you don’t need to wait a week before it’s revealed. You can view your “new friend” right away.
The owners of Moonbirds will also own their IP, allowing holders to create whatever they want with them.
Currently, the Moonbirds are stored using IFPS, but the team is working on moving this to on-chain rendering. So there can be no doubt that holders will forever have access to their NFTs.
Moonbirds Distribution
7,875 of the 10,000 were first going to be issued via a dutch auction and no pre-mint list, but that all changed overnight. The NFT will be launched through a raffle, and to get on the list, you’ll need to have 2.5ETH in your wallet, follow Moonbirds on Twitter and verify your Discord account.
These recent changes were made because the team is concerned about bots taking everything. They also reduced the mint amount from two to one. After the winners are picked from a guaranteed list, they get 3 hours to mint their NFTs avoiding a gas war situation. If those selected didn’t mint their NFTs, Moonbirds will defer to a secondary list and allow them to start minting. PROOF pass holders have three days to mint, so they can take their time as always.
2000 Moonbirds will go to the PROOF Collective Members. Two Moonbirds for each PROOF holder, perks for owners already paying off.
125 will go to the PROOF Treasury for future collaboration, marketing, and advisors. Something to note is that 25 will go to the PROOF core team members.
On secondary sales, PROOF will earn 5%. These funds will be used to hire and build out the PROOF team.
Rewards
The longer someone holds a Moonbird, they can unlock private club membership and additional benefits.
Moonbirds will have their discord channel that PROOF owners can access, allowing networking and community building.
Nesting is Moonbirds own version of staking. The longer a Moonbirds is nested, you can receive more benefits. Nesting will be available to holders a few days after the launch date, according to the Moonbirds website.
Nesting for a more extended period separates owners into tiers — diamond wings/diamond hands — they get special rewards for nesting for longer than anyone else. After the first 30 days of nesting, you get a swag pack of stickers to show people in IRL what you get for staking.
Because of regulations, the DAO isn’t set in stone, but the team wants to consider longer staking having higher weight in voting for the DAO if it is ever made. Instead of rewarding everyone with the tokens like board apes did when they launched, they want to reward day ones more than someone who bought in a week before the big announcement.
PROOF pass holders owning a Moonbirds will have a specific PROOF background on their Moonbirds, visually separating them from other Moonbirds owners. It will automatically validate you own a PROOF pass and make the changes on-chain to show a PROOF pass owner owns the Moonbird; the feature is not ready yet but is on the way. When sold, it will go back to the standard background, and buyers should be aware that the background will change when getting an NFT from a PROOF pass holder.
PROOF is working on its metaverse called Project Highrise, to which Moonbirds holders will have first access. Little is known about the metaverse, only that it’s “different.” Under promise and deliver, I guess.
Community
PROOF wants to build a holding community and incentivize members not to sell, but when the value of the NFT gets to life-changing money, are individual members supposed to care about the community or just cash out? That depends on the value PROOF is bringing to its members over time.
Finally
The PROOF team keeps insisting they don’t get any money, and this isn’t about them; that’s true, but PROOF holdings inc. is a company, and companies have a bottom line. Their goal currently is to raise a lot of capital to build more cool stuff and, in doing so, create value for the community. Despite everything, they are in this to make a profit. That’s what companies do; show me a company that isn’t here to make a profit. How revenue is used depends on the team, but 100% goes back into the company and not the owner’s wallets.
There has been a lot of concern over the minting price of 2.5ETH. Someone at PROOF said :
What price is inclusive? Is dropping to 0.01ETH ($310) inclusive or exclusive. So PROOF decided that $310 was still exclusive and zero ETH was a nonstarter, so 2.5ETH($8,000) is a perfect balance between zero and 0.01.
This was supposed to be PROOFs accessible project, but with the FOMO at their doors, PROOF might have to release four more NFT collections before everyone can get a piece of it.
I have a theory about the launch price of 2.5ETH attracting the kind of customers that won’t sell when the market price for Moonbirds goes to 15ETH. If they were to sell at 0.01ETH, anyone could get it, and then the price goes up to 15ETH; who will be nesting then? Are the nesting rewards enough to keep nesting, or would an individual investor prefer to sell? 2.5ETH isn’t money everyone has, and I think that’s what they are counting on.
With all the money they will raise during this period through sales and constantly adding new members to their team, it would be hard not to deliver on their promises. I am looking forward to seeing where this goes.
Stay Connected!!
