<\/p>\n
Investor Mike Dudas is banging the drum for the legacy NFT collection, which was acquired by Orange Cap Games in May.\n<\/p>\n
Non-fungible token collection Moonbirds has been one of the digital collectible market\u2019s standout performers over the last quarter. The collection crossed the 3 ETH threshold this morning after a tweet<\/a> from Mike Dudas, a crypto investor and co-founder of The Block, said that holders can expect a \u201ctoken soon.\u201d<\/p>\n The collection, which was originally launched by Kevin Rose in the Proof ecosystem in 2021, has a colorful past<\/a>, perhaps best represented by its floor price volatility \u2014\u00a0the price of a Moonbirds NFT reached 40 ETH shortly after its mint in 2022, and fell as low as 0.5 ETH earlier this year.<\/p>\n Moonbirds\u2019 floor price reached as high as a 3.25 ETH<\/a>, or $14,500, this morning, and the NFTs are currently changing hands for 3.12 ETH.<\/p>\n While Moonbirds have been trending over the last couple of months, this morning’s impulse move may have been driven by the recent X post from Dudas, a vocal investor in the collection.<\/p>\n Dudas posted on Aug. 11: \u201c@moonbirds are the @pudgypenguins of this cycle (pudgy will continue to grow, they\u2019re at the next leg of their growth cycle). The moonbirds thesis is dead simple: cto, strong leader, same investors, great ip, fervent community, real world products, token soon.\u201d<\/p>\n Pudgy Penguins are known for their incredible price run from 2023 to 2024, where the collection surged from roughly 1 ETH, when it was acquired by Luca Netz<\/a>, to an all time high of 34 ETH leading into the PENGU token launch<\/a> in December.<\/p>\n In May, Orange Cap Games, a digital IP company that is known for its involvement in the Pudgy Penguins ecosystem, acquired<\/a> the Moonbirds project from Yuga Labs. <\/p>\n Orange Cap Games developed the Pudgy Penguins physical trading card game, and its founder, Spencer Gordon-Sand, is known for acquiring 144 Pudgy Penguins ecosystem NFTs<\/a> from the Three Arrows Capital (3AC)<\/a> collection in 2023 when the fund was going through its liquidation process.<\/p>\n Gordon-Sand has been an outspoken advocate for NFTs, and Pudgy Penguins in particular, throughout the NFT bear market, and is also known as one of the largest Blur Season 1 airdrop<\/a> recipients. <\/p>\nPudgy Connection<\/h2>\n