Moonbirds, a popular collection of non-fungible tokens (NFTs) has Announced plans to introduce its community government DAO (decentralized autonomous organization) in early 2023.

Project founder and longtime internet entrepreneur Kevin Rose revealed on Monday that the DAO structure is being created to “empower creatives who are being built to further the Moonbirds ecosystem, reputation, and lore.”

The Moonbirds DAO will allow owners of Moonbirds NFTs and upcoming Moonbirds Mythics NFTs to join, participate, and submit votes on proposals to expand the ecosystem around tokenized owl collectibles, Rose explained.

Proof, the private community behind the Moonbirds NFT collection, will seed the DAO with around $2.6 million in assets, including $2 million worth of Ether (ETH).

Proof, which was co-founded by Rose, will spend another $500,000 to buy Moonbirds NFTs on the market: an estimated 37 NFTs, based on the current floor price (or the cheapest NFT available). Proof will also award the DAO its own Moonbirds NFTs worth $100,000, according to the report.

On top of that, Proof will also award 35% of the ongoing creator royalties from Moonbirds and its spin-off collection Oddities to DAO. The decentralized autonomous organization will launch with a “cold start” warning that allows Proof to veto any “rogue proposals.”

In August, Proof revealed the first official expansion to the Moonbirds collection, known as Moonbird Mythics, expected to release in early 2023.

In August, Proof also raised $50 million in a Series A funding round led by venture capital firm Andreessen Horowitz (a16z) and other participants including Seven Seven Six, True Ventures, Collab+Currency, Flamingo DAO, SV Angel and Vayner Fund. Proof planned to use the new funds to launch its latest Moonbirds NFT collection and a social platform for NFT collectors.

In April, Moonbirds sold out its collection of 10,000 computer-generated pixelated owl avatars within 48 hours of release, generating $281 million in sales at the time.

Moonbirds is a collection of non-fungible tokens that follows the ERC-721 standard in the Ethereum blockchain ecosystem. NFTs feature portraits of ‘owls’ (a group of mysterious birds), with unique signature elements that make each token a unique investment.

The Ethereum-based Moonbirds NFT project offers a set of opportunities for investors looking to profit from non-fungible tokens. According to OpenSea, Moonbirds is ranked number seven in terms of total traded volume at approximately 169,000 Ether (ETH).

Despite the bear market, NFTs continue to gain popularity as investors around the world are actively involved in innovative projects. NFTs have hit investors hard, with global icons like Snoop Dog, Naomi Osaka, Jack Dorsey and Tiger Woods, among others, betting big on related projects.

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