Moonbirds NFT Sales Drop by $460M to New Low
- Moonbirds has recorded declining sales since April.
- The digital collection still attempts sales recovery in July.
- Moonbirds’ sales volume hovered around $15M in June.
Moonbirds was among the NFT collections that received a massive blow in the drop of collectibles marketplace in June following faded investor interest.
Moonbirds is one of the top 10 highest-selling virtual collections, with its overall sales volume at around $562.9 million. Be(In)Crypto’s research discovered the NFTs’ sales volume stood at $15.43M in June.
Though this figure appears low, it outshined monthly sales for Meebits, BACK (Bored Ape Kennel Club), and Axie Infinity. Meanwhile, it was beneath sales by Otherdeeds, MAYC (Mutant Ape Yacht Club), BAYC (Bored Ape Yacht Club),
Furthermore, sales volume in June represented a 72% slump from May. Moonbirds’ sales hovered around $56.1 million in May. Moonbirds NFTs joined the market on 16 April 2022. Proof, a media startup, launched the non-fungible token. Meanwhile, venture capitalist Kevin Rose founded the firm.
Similar to other projects, Moonbirds include 10,000 owl avatars. Individuals can buy these avatars from OpenSea, a leading NFT marketplace.
Why Plummeting Sales?
Considering the drop in unique buyers in June, the sales volume dip triggered waning transaction figures of the collectible, with 612 transactions and 467 distinct buyers.
Meanwhile, the collection opened in April 2022 with unique buyers at 11,742 plus 15,909 transactions. The NFT’s April sales stood at around $485.22 million.
Meanwhile, sales beneath $10 million meant sales volume declined by $469.8M. Also, June’s $25,205 average sales reflected a 17% decline from $30,500 in April.
The non-fungible token (NFT) market struggled as the crypto world endured extended losses. While publishing this content, digital assets attempted to maintain leg-ups recorded over the past few days.
The global cryptocurrency market capitalization declined by 3.22% in the past 24hrs to $1.03 trillion. This index should hold beyond the $1 trillion mark to prevent further downside.
Also, Bitcoin tries to stabilize at the $23K level, changing hands at $22,938 during this publication. Market sentiment remained deteriorated, and analysts predict lows in the upcoming sessions.
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