The recent sale of the intellectual property of the Moonbirds NFT collection to Orange Cap Games has led to a notable increase in market activity, with sales exceeding $2 million.
Increase in NFT Market Activity
On June 6, data from NFT aggregator CryptoSlam showed that Moonbirds reached a weekly sales volume of over $2 million, up 2,525% from the previous week. The collection also surpassed its total sales for May by June 6, with total sales around $1.4 million so far, a 43% increase from May.
Sale of Intellectual Property and Its Significance
On May 30, Orange Cap Games announced it had acquired the intellectual property of Moonbirds, Mythics, and Oddities from Yuga Labs. Yuga Labs CEO Greg Solano stated that Moonbirds 'deserve a team whose whole world is the birds.' This change in project management has sparked increased interest in the collection.
Overall State of the NFT Market in May
The uptick in Moonbirds sales coincided with a resurgence in the digital collectibles market, which saw total sales rise to $476 million in May, an increase of 27% compared to April. The number of unique NFT buyers also grew to 936,000, a 50% increase from April.
The rise in Moonbirds sales underscores the revitalization of interest in digital collectibles and the significance of project management changes in attracting investors.
