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Proof garnered $50 million in a Series A funding round led by Andreessen Horowitz.
The company, which was founded by Kevin Rose, the originator of the Moonbirds NFT project, also revealed that everyone has the right to commercialize Moonbirds and Oddities.
Andreessen Horowitz led Proof's $50 million funding round, which was successfully concluded (a16z).
Seven Seven Six, True Ventures, Collab+Currency, Flamingo DAO, SV Angel, and VaynerFund also participated in the fundraising effort. In April, Seven Seven Six announced a $10 million investment in PROOF.
In addition, the company provided information about the technology that powers its web3 platform, as well as expansion plans for the entire ecosystem.
Currently, the company is creating a platform that will aid NFT collectors in interacting with communities and releasing utilities.
During a live-streamed community event, Proof's Co-Founder and CEO Kevin Rose, together with Co-Founder and Chief Product Officer Justin Mezell and Director of Product Harri Thomas, announced the company's Series A investment.
In response to the fundraising, Kevin Rose said “It’s great to have this vote of confidence from some of the most respected investors in web3, as well as capital to keep delivering great products and services as we mature this business over the long term.”
PROOF is working on a Web3 social platform that will be run by the whole community using a voting system called a DAO (decentralized autonomous organization).
Also, people who use the platform will get information about NFT that will help them make decisions.
Once the beta version of the platform is out, people who own PROOF Collective, Moonbirds, or Oddities tokens will be able to show their NFTs on the site.
After deciding to put the Moonbirds and Oddities characters in the public domain, the company made this announcement, which says that anyone can combine the characters for commercial use.
The business switched its two collections under the Creative Commons Zero (CC0) license at the beginning of the month of August.
With the launch of its new platform, it looks like the company is shifting its focus from the creator economy to the blockchain infrastructure market.
The owners of the two collections were upset with PROOF because they thought they should have been consulted before Moonbirds and Oddities were given to CCO.
This made people say bad things about PROOF.
The company also said that it will put Moonbirds on chains and make a new collection called Moonbird Mythic, which will come out at the start of 2023.
PROOF will also make a governance token for its ecosystem, which will be called Proof token. Also, this launch is likely to happen in 2023.
At a live broadcast Rose said "It's amazing to have this vote of confidence from some of the most reputable investors in Web3 as well as the capital to continue producing outstanding products and services as we mature this business over time."
During the Future PROOF event, Kevin Rose made the statement, “The world doesn’t need another token for speculation.
When we do something it should be uniquely our own, with real utility, something that will push what’s possible in new and exciting directions,”.
