The Sandbox bought an NFT from the Moonbirds collection for $1M

The Sandbox Metaverse Project bought a non-fungible token from the Moonbirds NFT collection for 350 ETH (over $1 million at writing).

👋 GM to MoonBird #2642 🦉

We got this rare @moonbirds_xyz NFT for 350 ETH and will showcase it alongside 100s of NFTs, adding Utility in @TheSandboxGame open Metaverse; growing the NFT culture as it will become part of our 500+ NFTs collection with BAYC #3749 & WOW #6025 😍 pic.twitter.com/jb4KwYK2Hh

— The Sandbox (@TheSandboxGame) April 23, 2022

Under the pseudonym oscuranft, the seller listed Moonbird #2642 on the OpenSea marketplace. On April 17, he purchased this NFT for 100 ETH.

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

Read Also: Moonbird’s success is being exploited by scammers who stole Bernie Sanders’ son’s account

According to The Block Research, in about a week, cumulative sales of NFT Moonbirds amounted to almost $360 million. Analyst Thomas Bialek attributed this to Rose’s support, the success of his previous Proof Collective project, and the behavior of collectors who began to choose non-fungible tokens “with a successful track record.”

According to OpenSea, the current minimum price token from the Moonbirds collection – 33.3 ETH. NFT Mining Cost for Proof amounted to 2.5 ETH per unit.

Earlier, the philosopher and author of the cult work “The Black Swan” Nassim Taleb admitted that the market for non-fungible tokens would burst against the backdrop of tightening Fed monetary policy.

Recall that in April, the media learned about the plans of The Sandbox to close the funding round. For $400 million. The company’s valuation may exceed $4 billion.