The Sandbox buys Moonbirds NFT for $1 million

The Sandbox metaverse project bought an NFT from the Moonbirds collection for 350 ETH (more than $1 million at the time of writing).

👋 GM to MoonBird #2642 🦉

We got this rare @moonbirds_xyz NFT for 350 ETH and will showcase it alongside 100s of NFTs, adding Utility in @TheSandboxGame open Metaverse; growing the NFT culture as it will become part of our 500+ NFTs collection with BAYC #3749 & WOW #6025 😍 pic.twitter.com/jb4KwYK2Hh

— The Sandbox (@TheSandboxGame) April 23, 2022

The seller under the alias oscuranft listed Moonbird #2642 on the OpenSea marketplace. On April 17, he purchased this NFT for 100 ETH.

Moonbirds is a collection of 10,000 owl avatars, launched on April 16 by the startup Proof. The latter was founded by True Ventures partner Kevin Rose.

According to The Block Research, in roughly a week Moonbirds NFT sales totaled nearly $360 million. Analyst Thomas Bialek explained this by Rose’s support, the success of his previous project Proof Collective, and collectors’ behavior who began to favor non-fungible tokens with a proven track record.

According to OpenSea, the current minimum price of a Moonbirds token is 33.3 ETH. The minting cost for Proof was 2.5 ETH per unit.

Earlier, philosopher and author of the cult work “The Black Swan” Nassim Taleb suggested that the NFT market will collapse amid tightening of Fed‘s monetary policy.

In April, reports emerged that The Sandbox planned to close a financing round of on $400 million. The company’s valuation could exceed $4 billion.

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