In February 2022, early-stage investors Kevin Rose and Justin Mezzell of Facebook and Twitter established the NFT-focused business. Additionally, the firm’s catalog includes the Proof Collective as well as Oddities NFT collections.
The deal, according to Rose, is intended to make the Moonbirds name recognizable on a “global” mainstream level rather than just establishing it as a major player in the Web3 industry, as she indicated when she announced the move on Twitter on January 6.
The firm behind the premier NFT initiative Moonbirds, PROOF, has agreed to be represented by United Talent Agency, one of the leading Hollywood talent agencies (UTA).
10,000 8-bit owl-themed character NFTs make up the Ethereum-based Moonbirds project, which was introduced in April 2022. Information from CryptoSlam shows that it has produced secondary sales of over $619.5 million so far.
Moonbirds is now the eleventh most popular NFT collection, behind CloneX ($794.9 million) as well as Doodles ($553 million), which are its toughest opponents.
Despite the ostensibly upbeat UTA statement, Moonbirds’ 24-hour total sales has plummeted by a significant 57.86%, with $442,747 value of Moonbirds NFT having moved in that time. Nevertheless, transaction volumes are indeed increased to 63.74% over just a seven-day period.
The decision by Moonbirds to pursue Hollywood deals is in line with that of other well-known NFT companies.
Larva Labs, the company that founded CryptoPunks, was the first to lead the path when it signed an agreement with UTA in September 2021 to cover the company’s intellectual property in the areas of TV, licensing, cinema, video games, and publication.
The Bored Ape Yacht Club IP was pushed into movies, music, TV, and games the following month by Yuga Labs, which already controls CryptoPunks. Prior to PROOF, a contract between UTA rivals WME as well as NFT company Boss Beauties was the latest event.