3 - 5 minute read
NFT Collective Proof recently announced the release of a new digital art collection in collaboration with 22 artists, including Beeple, Summer Wagner, and Terrell Jones. The collection, entitled “Moonbirds: Diamond Exhibition,” features 10,000 pieces of digital art and will be exclusively available to Moonbirds holders who have reached “Diamond Nest” status by staking their NFTs. The release will coincide with two live events, including Beeple’s LIVE Everyday party at NFT NYC and a physical gallery showing of the collection’s artwork later this month.
NFTs, or non-fungible tokens, have been the talk of the town for several years now, representing ownership of a unique digital asset that cannot be exchanged for another asset. NFTs are popular among collectors worldwide, primarily in the world of digital art. “Moonbirds: Diamond Exhibition” being exclusively available to Moonbirds holders is a move towards incentivizing NFT holders to hold onto their tokens, thus creating demand for this asset.
Our very own @JustinMezzell is PROOF’s co-founder, chief product officer, & the artist behind @moonbirds.— Moonbirds (🦉, 🎨) (@moonbirds) April 7, 2023
He is deeply passionate about storytelling & excited about how Web3 offers all artists a chance to create without relying on traditional institutions of commercialization. pic.twitter.com/77dzhPCHc1
Proof, the NFT collective behind the collection, has been partnering with several notable digital creators in the past few weeks, including Matt Kane, All Seeing Seneca, and Josie Bellini. In January, Proof signed with United Talent Agency to grow its brand beyond its Web3-native community. Later that month, the brand released its Grails III collection, which urged collectors to appreciate digital art over hype.
Despite its efforts, Proof has not been immune to the wider effects of the crypto bear market. In February, the company announced the cancellation of its annual Proof of Conference event due to issues with sales data, sponsors, and community feedback. Last month, Proof became entangled in the collapse of crypto-friendly Silicon Valley Bank, albeit sharing that it has some funds invested in the bank, though it assured holders that it would be “financially and operationally” OK.
In an interview with CoinDesk, Michael Mirilashvili, co-founder of Proof, said that “Moonbirds: Diamond Exhibition” is not just an ordinary collection of digital art, but instead a new wave of innovation for NFTs. He went on to describe the collection as a true diamond in the world of digital art.
The collection’s release has the potential to impact the NFT market but will likely affect the Moonbirds asset in particular. Proof’s strategy to incentivize NFT holders to hold onto their tokens to access exclusive collections might drive demand for Moonbirds, leading to a possible appreciation in value. However, traders must note that the NFT market and its associated assets are highly volatile and, like any investment, carry risks.
The Bottom Line
NFT Collective Proof’s launch of “Moonbirds: Diamond Exhibition” signifies the growing trend of incentivizing NFT holders to hold onto their tokens for access to exclusive collections. With Beeple and other notable artists involved, the collection has the potential to drive demand for the Moonbirds asset, leading to a possible appreciation in value. However, traders must remember that the NFT market and associated assets are highly volatile and carry substantial risks.