The Sandbox Purchases an NFT from the Moonbirds Collection for $1M
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26 April

The Sandbox, a popular metaverse-focused project, has purchased a non-fungible token from the Moonbirds NFTs collection for 350 ETH, which is currently over $1 million.

The seller of the asset, under the pseudonym oscuranft, had put Moonbird #2642 up for sale on OpenSea. Last April 17, he bought the NFT for 100 ETH.

Moonbirds is a collection of 10,000 owl avatars launched on April 16 by startup Proof, a company founded by True Ventures partner Kevin Rose.

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Per The Block Research, in about a week, cumulative sales of Moonbirds NFTs have amounted to nearly $360 million. According to analyst Thomas Bialek, this is due to Rose's support, the success of his earlier Proof Collective project and the behavior of collectors, who have started to choose non-fungible tokens "with a successful track record."

According to OpenSea, the current minimum price for a token in the Moonbirds collection is 33.3 ETH. The NFT mintage cost for Proof was 2.5 ETH per asset.

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