Moonbirds Co-founder Kevin Rose Dumps $1.3M NFT Amid Fresh Acquisition

Kevin Rose, the co-founder of the nonfungible token (NFT) collection Moonbirds, has initiated a significant sell-off of his prized NFT collection. Prominent Chinese reporter Colin Wu brought attention to Rose’s massive liquidation moves in a recent post on X.

Colin Wu, citing data from NFTScan, disclosed that over the past 16 days, Rose has successfully unloaded 328.92 ETH worth of digital assets. Considering the prevailing market price of Ethereum at $3,960, Rose’s sale amounts to a staggering monetary value exceeding $1.3 million.

Among the standout sales, Rose parted ways with the coveted Fidenza 531 for a staggering 142 ETH or $562,320. Moreover, he sold XCOPY’s renowned piece “When Airdrop?” for 151.2 ETH, equivalent to $598,752, signaling a strategic departure from his once-beloved digital treasures.

Adding to the intrigue, Rose facilitated the transfer of bluechip NFT CryptoPunk 6419 to undisclosed parties. Furthermore, he relinquished ownership of two ENS domains, consigning them to a burning address, leaving enthusiasts speculating about the motivations behind his actions.

These developments follow Yuga Labs’ recent bombshell announcement regarding acquiring Moonbirds’ NFT development team, PROOF. Three weeks ago, Yuga Labs, the creative force behind the Bored Ape Yacht Club, secured full ownership of PROOF and its entire portfolio, encompassing Moonbirds, Oddities, Mythics, and Grails.

Following the acquisition, Yuga Labs incorporated the Proof team into its workforce and integrated the Moonbirds collection into its highly anticipated Otherside metaverse game. PROOF CEO Kevin Rose is expected to assume an advisory role at Yuga Labs after facilitating the transition process.