Proposal 111: Sell our Moonbird

Proposal 111: Sell our Moonbird.

Description:

It’s shocking that it has taken this long to put up a sell proposal for our Moonbird. After the experiment of 2022 that was companies attempting to build businesses through profile pictures, we’ve seen little evidence that this is possible. The metaphorical nail in the coffin came towards the end of the year, with a growing market trend of participants moving away from paying secondary sale royalties. As a result, there is no clear source of revenue for many profile-picture projects, including Moonbirds. The results from Kevin Rose’s leadership have been decent, but none such so that warrants a $9,500 investment, the current floor price of the collection. It feels as though KRO jumped the gun - he’s as smart as they come in Web3 and is an avid builder. One gets the sense that he has great ideas, and he wants to build them, but perhaps dived head first in at a time where the most attractive setup is now something that we can look back on and describe as “misaligned” at best - the profile picture. Rose is trapped, just listen to some of his recent episodes on the PROOF podcast.

We’ve yet to factor opportunity cost into the equation, which is possibly a better reason to sell the Moonbird than anything that has to do with Kevin Rose and co. The grails of the digital asset space are still up for grabs - Punks, Squiggles, Nakamotos, Fidenzas, and more. There is absolutely 0 reason to be trying to swing for bigger hits in riskier projects like Moonbirds if we have the capital to pick up another one of these grails.