Moonbirds, the prominent NFT project recognized for its distinctive pixelated owl collectibles, is set to launch its own ecosystem token, BIRB, on the Solana blockchain. This announcement follows the project’s recent acquisition by Orange Cap Games, marking a significant shift just over three months since it was purchased from Yuga Labs.
The specifics regarding the utility of the BIRB token are yet to be disclosed. However, the Moonbirds team took to social media platform X to clarify that there is no existing contract address or claim process in place at this time. They assured followers that comprehensive details will be shared in advance of the official token launch, allowing the community ample preparation time.
In response to the news, trading activity surrounding the Moonbirds NFT collection has heightened dramatically. The collection saw its floor price increase by 19.4%, now sitting at 4 ETH, while overall trading volume surged by 63%, reaching a robust 1,683.8 ETH across platforms like OpenSea and Magic Eden. Data from NFTPriceFloor illustrates that since Moonbirds’ transition in ownership, the collection has experienced an impressive total trading volume exceeding 26,000 ETH—an incredible rise of over 1,192% within a mere 90 days.
This token launch appears to be in sync with a rising trend within the NFT ecosystem, where multiple projects are rolling out native tokens to provide new functionalities for their communities. For example, the Ethereum-based Doodles NFT collection also launched its own DOOD token on Solana earlier in May, creating opportunities for creators through a storytelling protocol called DreamNet, while also facilitating a substantial airdrop to holders.
Notably, the Bored Ape Yacht Club introduced its governance and utility token, ApeCoin (APE), back in March 2022, further enabling holders to engage in key decision-making processes as well as access exclusive events. Similarly, Pudgy Penguins recently launched its PENGU token in December 2024, reinforcing the trend towards tokenization within the NFT realm.
The timing of Moonbirds’ token rollout aligns seamlessly with a broader resurgence in the NFT market. As reported by The Defiant, the NFTStrategy ecosystem—composed of NFT projects that have introduced their own tokens to bolster community incentives, governance, and creator rewards—has now reached a market capitalization of approximately $183 million, as indicated by NFT Strategy Stats.
While this is a notable expansion in the tokenized NFT sector, it’s important to contextualize that the overall NFT market remains significantly lower than its peak valuation of around $17 billion seen in April 2022. Nonetheless, there has been a marked recovery this year, with total NFT market capitalization more than doubling from approximately $3 billion in April to around $6.6 billion today, indicating a positive trend and renewed interest in the marketplace.
As the Moonbirds community anticipates the upcoming BIRB token launch, it reflects the ongoing evolution within the NFT landscape as projects adapt and innovate in light of changing market conditions.
