- Moonbirds NFT sales has dropped since April
- The firm has attempted to recover its sales in July
In June, the market of digital collectibles fell drastically and unexpectedly because of reduced investor interest which eventually resulted in the fall of Moonbirds NFT project.
Currently, Moonbirds holds its position in the top 10 most selling digital collections in history. It has a sales volume of nearly $562.95 million. According to a recent research, the sales volume of the NFTs in June stood around $15.43 million.
In spite of the fact that the total worth is low, it is still much more than Axie Infinity, Bored Ape Kennel Club and Meebits’s monthly sale. Still, the sales remained low from the Bored Ape Yacht Club, Mutant Ape Yacht club and others.
Furthermore, the total sales volume of June was 72% less than that of May. The sales of the company touched a bar of $56.1 million in May this year.
On April 16, Moonbirds introduced their NFT project by Proof, a media startup. A venture capitalist, Kevin Rose was the founder of this company. It indulges 10,000 owl avatars which one can easily buy through Open Sea, the largest NFT marketplace which is similar to other projects.
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Reason for drop in the sales
The number of new clients decreased from June and low sales volume resulted in a decrease of transaction counts of the digital collectibles. It had 467 new buyers and only 612 transactions.
The sales of the company started in the beginning of April 2022, at that time the new buyers were 11,741 and this stood at 15,909 transactions. The sales volume of NFT in April was nearly $485.22 million.
April’s average sales value was $30,500 which eventually dropped 17 % and stood to $25,205 in June. Due to this, the sales went below $10 million and the sales volume went to $469.8 million.
Conclusion
The constant drop in the sales of the company gave the buyers a reason to think twice before taking any step towards the company. Despite all the situations, the company still holds its position in top 10 most selling digital collections.
Source: https://www.thecoinrepublic.com/2022/07/21/moonbirds-nft-sales-down-by-460-million/