Moonbirds achieved $20 million in revenue, but this success story reveals a critical issue haunting the NFT space: most projects fail because they rely solely on royalties.

Royalties alone don't work. They're unstable, dependent on trading volume, and can't fund ongoing development, community management, or product innovation. The harsh reality? Projects that tried to survive on royalties alone have largely faded.

What separates winners from losers in the NFT market comes down to one thing: revenue generation. Successful NFT businesses build multiple income streams—utility services, platform fees, exclusive access, governance participation, or ecosystem products. They treat their project like an actual business, not just a speculative asset.

Moonbirds demonstrated this by diversifying beyond simple trading. That's why they're still relevant when most NFT collections became forgotten.