Total of 500 Moonbirds NFTs Sold at Significant Losses

One Ethereum (ETH) wallet has recorded huge losses from sales of 500 Moonbirds Non-fungible tokens (NFTs).

Notably, Moonbirds NFTs are considered blue-chip collections. The losses incurred were between 9% and 33% as the digital collectibles were sold in batches. Out of the total Moonbirds NFTs stolen, 200 of them were sold at a loss of more than 32%. At the time of this writing, the floor price of Moonbirds had plummeted by almost 30%.

The perpetrator attacked these collections on the NFT marketplace Blur and according to NFTTrack, a digital collectible analyzing and tracking tool, the total losses amounted to more than 700 ETH. As it stands, the affected wallet address no longer has any NFT in it and its ETH  balance is less than 0.001 ETH which is approximately $1.21.

Moonbird NFTs in Web3.0

Noteworthy, Moonbirds NFTs are known to sell at very high rates. In four days, the newly-launched Moonbirds NFT had dragged in more than $290 million in sales and with this, it rose to the top of the trade volume charts. During that time, Moonbirds NFTs had Azuki in second place on the chart. The Moonbirds NFT collection includes 10,000 pieces of computer-generated pixel owl avatar NFTs.

Just one week after the launch of the digital collection last year, it sold for as much as 350 Ether estimated to be around $1 million at the time.

Moonbirds NFT was floated by a venture capital juggernaut known as Kevin Rose through his media startup called Proof. Some NFT enthusiasts suspect that Moonbirds NFTs gained popularity owing to its connection with Rose. They tried linking it to the success of Rose’s previous project Proof Collective collection.

Holders of the collection were promised some enticing benefits. “As you achieve different nest status levels, that allows us to deliver different benefits to you as Moonbirds holders,” Rose said. “That will mean in-real-life meetups and events and there’s gonna be some crazy airdrops that we have planned.”

Meanwhile, Rose fell victim to wallet exploitation at the beginning of this year. His NFTs worth $1.1 million were siphoned from his Ethereum wallet. The collection comprised 40 NFTs including 25 Chromie Squiggles from the Art Blocks project, Cool Cats, OnChainMonkeys, and an Autoglyphs NFT from the original CryptoPunks creator Larva Labs.