Why did Moonbirds fall so far?

Most NFT projects faced a steep decline in their floor prices during the crypto winter, which is still ongoing.

But Moonbirds was considered one of the blue chip projects, at least in the same category as Doodles and CloneX. And it had $50 million in reserves, a luxury that few NFT projects have.

In this crypto winter, it’s quite possible that Moonbirds would have fallen to where it has, even if the team had avoided the missteps. On the other hand, the revival of Pudgy Penguins provides at least one major success story during the crypto winter that shows it can be done.

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