Ethereum blue-chip NFT project Moonbirds officially expanded into Solana yesterday (28) with the launch of its native token BIRB. Although the token price surged 90% on its first day of trading, the token distribution mechanism sparked strong community backlash, even causing the Moonbirds NFT floor price to experience a significant drop.
According to CoinGecko data, BIRB saw strong buying activity after its launch, with the price rising from $0.20 to a high of $0.45, and stabilizing around $0.31 at the time of writing, representing a daily increase of approximately 90.6%. Currently, BIRB’s circulating market cap is about $9.9 million, with a fully diluted valuation (FDV) reaching approximately $347 million, clearly surpassing the expected level of “FDV one day after issuance” in related prediction markets on Polymarket.
However, behind the impressive price performance, there is growing anger within the community. The tokenomics model announced by the team on Tuesday was criticized for “lack of sincerity.” BIRB has a total supply of 1 billion tokens, of which up to 65% is allocated to “community-related distribution.”
Yet, seemingly generous numbers, when broken down, have left long-term players feeling disillusioned. Only 27% is used for direct rewards to NFT holders, while the remaining “community share” is divided into: ecosystem partners (12%), value chain incentives (10%), liquidity (8%), and the so-called “Innovation Fund” (8%). Meanwhile, the team retains 10%, and investors and advisors take as much as 25%.
What further frustrates veteran players is the “unlock mechanism.” On January 27, the team announced the launch of “Nesting 2.0,” a feature designed to encourage long-term user engagement. It involves users depositing eligible Moonbirds ecosystem NFTs into the protocol, during which the NFTs cannot be freely traded on the market. In exchange, holders can receive BIRB rewards.
However, the issue lies in the fact that, although users immediately receive Soulbound Tokens (SBTs, digital certificates that cannot be transferred or sold and are permanently bound to a specific wallet) as verification after staking, the actual BIRB reward claim period has been extended to a 24-month linear unlock.
This means that if users are holding NFTs solely to receive airdrops, they now have to lock their assets for two years to claim the full rewards.
Once the news broke, the floor price of Moonbirds NFTs on Ethereum plummeted, dropping over 30% in less than a day, briefly reaching 1.10 ETH and falling back to the lows seen in mid-2025.
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