Solana News Today: Orange Cap's BIRB Token Aims to Revitalize Moonbirds' Ecosystem on Solana

Moonbirds, the Ethereum-based NFT project known for its pixelated owl collectibles, announced the launch of its ecosystem token, BIRB, on the Solana blockchain during the Solana-sponsored Birbhalla event in Singapore on October 2, 2025. The move, teased on X with the message "Announcing $birb coming soon(ish) on @solana," aims to revitalize the project's utility and liquidity while tapping into Solana's growing meme-coin ecosystem. The token's planned deployment follows a strategic shift in ownership and development, with Orange Cap Games-led by Spencer Gordon-Sand-acquiring the IP in May 2025 after its prior ownership by Yuga Labs and Proof Collective.

The announcement triggered immediate market activity. Secondary sales on platforms like OpenSea and MagicEden surged, pushing the Moonbirds floor price to 4 ETH (~$18,000) within hours, though it later stabilized at 3.45 ETH (~$15,450). This marked a 19.4% increase in 24 hours, accompanied by a 63% spike in trading volume (1,683.8 ETH exchanged) across marketplaces. The NFTs had traded for less than $1,000 earlier this year before the Orange Cap acquisition, contrasting with their 2022 peak of 38.5 ETH per NFT.

Moonbirds' ownership history is central to its current trajectory. Created by Proof Collective in 2022, the project initially generated $280 million in trading volume within two days but faced community backlash and a subsequent decline. Yuga Labs acquired it in February 2024 but left it dormant until Orange Cap Games' acquisition reignited development efforts. The BIRB token is positioned to mirror trends seen in other NFT projects, such as Pudgy Penguins' $PENGU and Azuki's $ANIME, which use "culture coins" to enhance community engagement and create tradable utility.

The token's potential utility remains unspecified, but Gordon-Sand has hinted at strategic timing for its release. The Moonbirds team emphasized transparency, stating that launch details-including airdrop mechanics and tokenomics-will be communicated in advance to holders. This approach aligns with broader industry practices of avoiding surprise token drops to maintain trust.

Market analysts view BIRB as a catalyst for sustained interest in the Moonbirds ecosystem. By leveraging Solana's low transaction costs and meme-coin momentum, the project could attract new liquidity while deepening existing holder participation. Similar initiatives, such as Doodles' $DOOD and Milady's $MILADY, have demonstrated how tokenized governance can extend NFT lifecycles.

While no formal price projections have been released, the 2025 resurgence of the NFT floor price-now over 100x higher than its pre-Orange Cap levels-suggests a positive outlook. Traders are pricing in potential use cases, such as staking, governance rights, or exclusive access to future NFTs. The project's success will depend on clear utility and sustained community engagement, as seen in the broader NFT space's shift from speculative trading to functional ecosystems.