New Dapps Report: Moonrunners NFT wolves howl from the top of the charts

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Moonrunners is a collection of 10,000 generative NFTs amassing over $1.5 million in trades in the last seven days.

In the June 2022 edition of DappRadar’s New Dapps Report, we dive deeper into the Moonrunners, which are climbing the NFT charts. The New Dapps Report is a detailed analysis of financial metrics for NFT collections with a solid appeal.

This New Dapps Report is part of a series of executive reports that provide readers with a high-level perspective of promising, generative NFT collections. The report focuses on financial metrics, including sales activity, price analysis, and distribution metrics like Unique Holders Ratio and Whale Concentration Index. It additionally dives into whales’ behavioral patterns and social and technical overviews. 

Moonrunners is a collection of 10,000 generative NFTs which started a Twitter project in late June 2022. Moonrunners imitates many features pioneered by recent successful projects, and the pixel avatar is very similar to Moonbirds. 

The collection draws storytelling Twitter inspiration from Wagdie and Goblin Town, anonymous,undoxxed, no discord, and no roadmap. The result is much greater than the sum of all these parts.  

Please do not consider this document as financial advice. 

Data updated on: Jul 7, 2022

Table of Contents

Key Takeaways

  • Moonrunners is the 14th most-traded collection in the last seven days, with over $1.5 million and a total volume of over $8 million.
  • The collection’s price floor has appreciated by 233% since the mint.
Moonrunners KPIs
Source: DappRadar

Moonrunners – Solid initial results, but the hype is gone

Blockchain: Ethereum

Launch date: June 23, 2022

Edition size: 10,000 – Limited Edition

Traits: 11

Attributes: 151

Floor price: 0.3  ETH

Source: DappRadar

Moonrunners showed promising results in the first week after the collections mint on June 23. Since the mint was free, the average trading price for the first day will be used instead of the mint price. 

Like many collections before it, Moonrunners generated a lot of hype which translated into a solid performance, reaching its peak on June 25th with a daily trading volume of $1.7 million. The engaging narrative maintained the project´s official Twitter under the spotlight. 

After the lunar event, all NFTs ‘evolved’ to have a moon in the background, and interest faded quickly, with the current trading volume being 96% from its peak. The average price echoed this progression. 

It peaked at 0.81 on June 27th, showing an 800% appreciation on the first day, and quickly subsided into the current level of 0.33 ETH, which is a 267% appreciation. 

The floor price is not far behind, sitting at 0.3 ETH, an appreciation of 233% from the mint price surrogate. The price development was initially very promising as it had overtaken many recent successful projects like GODA Mint Pass and Primates, which has an appreciation of 469% and 494%, respectively; however, it quickly lost steam being the best from the underperforming Projects like Veefriends V2 and Wagdie which appreciated by 85% and 24%, respectively.

Added Utility – No roadmap and no planned utility

The team behind the project is part of the recent trend pioneered by Goblin Town, where projects issue no roadmap and no planned utility and instead engage the community daily. 

The dev team has been engaged in a daily storytelling experience, unveiling a new piece of the lore crafted for the collection. This experience is interactive, and the community is driven by the twitter hangout session, which happens on a near-daily basis. 

The devs have released a lot of clues, and the released media so far hints at a potential interactive game world in the future.

Moonrunners Map
Source: Twitter

The immediate utility of the NFT is that it comes with CCO licenses. The holder can use it commercially for whichever purpose they see fit. The community interaction game is also quite engaging for the one-type holders who enjoy puzzles and engaging with the community. 

Social Awareness and Engagement 

Source: DappRadar

Like Wagdie, the project only has a Twitter and an official site for the community to engage. 

Twitter went live in October 2021; however, it first went active on June 21rd, 2022, a few days before the mint. The profile currently has 41,503 followers, 100% of which it has gained in the last two weeks. 

The community engagement remains solid as the account grows daily by an average of 1,494 new followers.

These stats are very average for our Dapp Reports; however, compared to its closest competitor Wagdie, they are powerful as Wagdie had 15,000 followers with a growth of 495 in the same period.

The project used Twitter to a great extent, with an average of 4,000 listeners tuning in every time. 

No official Discord is associated with the project, and no fan-organized channels to our knowledge. While some collections like Goblin Town benefitted from the decision not to have an official Discord,  it has also shown to backfire, as was the case for Wagdie.

Due to having no central hub for the community to congregate and engage with the devs, the project folded as soon as controversy struck. 

Team Overview 

Moonrunners continues the trend of having a completely anonymous team. Community trust and communication are of utmost importance when scams and rugpulls remain a real risk. For many people, an unknown team remains a red flag. The choice to keep themselves hidden may cause friction in the future should holders become confused or disillusioned with the project. 

Whale Wallet Analysis                                                            

Moonrunners has a Unique Holders Ratio of 44%, which indicates a below-average diversification. The more unique holders there are, the less chance of collusion exists between the holders. A lower diversification ratio often strongly correlates with very sudden price fluctuations. 

The whale concentration for Moonrunners is 4.36%, which is perfectly average. Among the top five holders, one prominent whale boredslice.eth

 A higher whale concentration suggests an increased risk of price manipulation by famous collection holders. The absence of high-profile whales and an average whale concentrate indicates that the collection is at low risk for price manipulation.

However, potential buyers are always advised to exercise due diligence, especially with anonymous devs. 

Technical Overview

As with most  NFT projects, Moonrunners stores the metadata using IPFS rather than fully on-chain. This type of storage is the standard practice because storing images on-chain is often too data-heavy.  

Although no known technical issues are reported about the project, it is always advisable to exercise caution, mainly due to the lack of transparency of the development team. It can be challenging to gauge the team’s expertise in running these projects or their intentions due to their anonymous nature. 

  • Audit status: no audits performed yet
  • Storage: NFTs are stored as ERC-721 tokens on the Ethereum blockchain, and visuals live on IPFS for immutable ownership.


Moonrunners is fighting an uphill battle in this very contentious market. The bear market forces much smaller collections out of the market, making newcomers compete with blue chips for a place in the spotlight. 

Due to the nature of this market, it is somewhat understandable that the collection imitates a lot of principles of recent successful groups to remain relevant. These choices propelled the collection to the top trading ranks in the initial stages, but unfortunately, the collection lost steam quickly. 

The current floor price appreciation of 233% is below average even for collections that got minted during the bear market like Primates and GODA Mint pass but are still now as poor as some other recent collections like Vee Friends and Wagdie

The community game aspect is very engaging, and socials reflect that. The Twitter follower count and daily growth are above average compared to a recent collection minted this quarter. It is a much stronger performance than its closest analog Wagdie.  

The stylistic choice of the devs to remain anonymous is a bold one. While it contributes to the mystique of the storytelling experience they have cultivated on their official Twitter. It can, however, quickly backfire, as we have seen with Wagdie, should any controversy arise. 

Robust utility and a proven and reputable dev team indicate a project’s excellent longevity. Moonrunners does not overpromise with its utility, so it will not disappoint, but it may struggle to keep the audience captive with the community game in the long run. 

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