In July, the company sought to regain its revenues.
In June, the market for digital collectibles plummeted dramatically and abruptly due to decreased investor interest, resulting in the demise of the Moonbirds NFT project.
Moonbirds is now one of the top ten best-selling digital compilations of all time. It has almost $562.95 million in sales. According to a recent study, the total sales volume of NFTs in June was roughly $15.43 million.
Despite the fact that the overall value is modest, it is still much more than the monthly sales of Axie Infinity, Bored Ape Kennel Club, and Meebits. Nonetheless, sales from the Bored Ape Yacht Club, Mutant Ape Yacht Club, and others remained low.
Furthermore, the overall sales volume in June was 72% lower than in May. In May of this year, the company’s revenues reached $56.1 million.
Proof, a media business, unveiled Moonbirds’ NFT initiative on April 16. Kevin Rose, a venture capitalist, founded this firm. It has 10,000 owl avatars that can be readily purchased via Open Sea, the biggest NFT marketplace, which is identical to other initiatives.
The reason behind the moonbird sales decline
The number of new customers declined from June, and low sales volume led in a fall in digital collectable transaction counts. There were 467 new buyers and 612 trades.
The company’s sales began in early April 2022, with 11,741 new purchasers at the time, for a total of 15,909 transactions. In April, NFT sales were roughly $485.22 million.
The average sales price in April was $30,500, but it fell 17 percent to $25,205 in June. As a result, revenues fell below $10 million, but sales volume increased to $469.8 million.
The firm’s consistent reduction in revenue offered customers cause to think twice before committing to the company. Despite these circumstances, the organization remains in the top ten most popular digital collection sellers.