Following its acquisition by Orange Cap Games, Moonbirds is about to launch its BIRB token, with the collection’s total trading volume climbing over 1,000% in 90 days.
Moonbirds, the NFT project known for its pixelated owl collectibles, plans to launch its ecosystem token, BIRB, on the Solana network, just over three months after the project was acquired by Orange Cap Games from Yuga Labs.
While specific details about the token’s utility remain unclear, the team clarified in an X announcement on Thursday that there is no active contract address or claim process, and that ample notice with detailed information will be provided ahead of the token’s official release.
Following the announcement, the Moonbirds NFT collection experienced a surge in activity, with the floor price rising 19.4% to 4 ETH and trading volume increasing 63% to 1,683.8 ETH across OpenSea and Magic Eden.
NFTPriceFloor data shows that since Moonbirds’ change of ownership, the collection’s total trading volume has surged past 26,000 ETH, a jump of over 1,192% in 90 days.
The token launch aligns with a broader trend in the NFT space, where projects are introducing native tokens to unlock new utilities. For instance, Doodles, an Ethereum-based NFT collection known for its pastel characters, also rolled out its own DOOD token on Solana earlier in May to seed DreamNet, a storytelling protocol that rewards creators, while also distributing a sizable airdrop to holders and “New Blood,” a program designed to attract new users to the ecosystem.
Similarly, the well-known Bored Ape Yacht Club introduced ApeCoin (APE) in March 2022, a utility and governance token that enables holders to participate in ecosystem decisions and access exclusive events and services.
More recently, Pudgy Penguins launched its PENGU token in December 2024.
The Moonbirds token launch also comes amid a broader rebound in the NFT market. As The Defiant reported earlier, NFTStrategy, an ecosystem of NFT projects that have introduced native tokens to fund community rewards, governance, and creator incentives, now has a market capitalization of $183 million, according to data from NFT Strategy Stats.
While this shows growth within the tokenized NFT sector, the broader NFT market remains far below its April 2022 peak of roughly $17 billion. Still, the space has recovered somewhat this year, with total market capitalization more than doubling from about $3 billion in April to $6.6 billion today.