Yesterday’s PROOF roadmap update was a crucial moment for the ecosystem, with sentiment and prices falling for months. The update was comprehensive, honest, and much-needed for the community, with a renewed focus on art being the primary update. Moonbirds was rebranded as “The Art Collector’s PFP,” and listeners were given insight into where the team went astray and what they plan for the future.
PROOF Update
- Primary update: renewed focus on art – the original PROOF vision
- PROOF aims to create unique experiences for collectors to connect with artists to own and champion their art
- Moonbirds was rebranded as “The Art Collector’s PFP”
- Highrise shelved; Token delayed
- PROOF pass holders turn into Moonbirds Elders at the time of sunset
- The Diamond Nest will be the final nest, with a Diamond Exhibition final prize
- The Moonbirds DAO (Lunar Society) will be funded with $2M and Moonbirds
- New details on Mythics, their eggs, and a re-roll feature
- Trait-focused art drops are restarted and coming soon for Moonbirds
- Moonbirds will receive periodic art drops starting Jan 1, 2025
The market reacted as expected, with prices dropping, and the team encouraged the sell-off to turn over their holder base into those aligned with the vision. The community sentiment is crucial for the ecosystem’s future, and the bear case suggests that art drops may not be valuable, “art collectors” may not buy Moonbirds, and there may not be much demand for Mythics.
Other Details
- A fake version of Yuga’s TwelveFold collection was inscribed on Bitcoin ahead of the official release
- PROOF announced a new art collab project with the Pace Verso gallery called “Archive of Feelings” coming on March 15
- Magic Eden shared plans for “Mint Madness”
- OpenSea provided a new bulk listing feature in its marketplace