Kevin Rose, the co-founder of the non-fungible token (NFT) collection Moonbirds, has initiated a significant sell-off of his prized NFT collection. Prominent Chinese reporter Colin Wu drew attention to Rose’s massive liquidation moves in a recent post on X.
Moonbirds co-founder Kevin Rose is selling his NFT collection after selling 328.92 ETH worth of NFTs in the past 16 days, including the Fidenza 531 for 142 ETH and xcopy’s “When Airdrop?” for 151.2 ETH. He also transferred CryptoPunk 6419 to others, as well as two ENS domains to a…
— Wu Blockchain (@WuBlockchain) March 10, 2024
Colin Wu announced, based on data from NFTScan, that Rose has successfully released 328.92 ETH worth of digital assets in the past 16 days. Considering Ethereum’s prevailing market price at $3,960, Rose’s sale amounts to a staggering monetary value of over $1.3 million.
Among the notable sales, Rose parted with the coveted Fidenza 531 for a whopping 142 ETH or $562,320. Additionally, he sold XCOPY’s renowned piece “When Airdrop?” for 151.2 ETH, equivalent to $598,752, signaling a strategic departure from its once beloved digital treasures.
Adding to the intrigue, Rose facilitated the transfer of bluechip NFT CryptoPunk 6419 to undisclosed parties. Additionally, he relinquished ownership of two ENS domains and sent them to a burning address, leading enthusiasts to speculate about the motivations behind his actions.
These developments follow Yuga Labs’ recent announcement of the acquisition of Moonbirds’ NFT development team, PROOF. Three weeks ago, Yuga Labs, the creative force behind Bored Ape Yacht Club, acquired full ownership of PROOF and its entire portfolio, which includes Moonbirds, Oddities, Mythics and Grails.
Following the acquisition, Yuga Labs incorporated the Proof team into its workforce and integrated the Moonbirds collection into the highly anticipated Otherside metaverse game. PROOF CEO Kevin Rose is expected to take on an advisory role at Yuga Labs after facilitating the transition process.
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