A $50 million funding round led by Andreessen Horowitz (<a href="https://www.cryptoknowmics.com/news/ready-player-me-received-56-m-in-series-b-investment-from-a16z/" target="_blank" rel="noopener">a16z</a>) is completed by PROOF. Seven Seven Six had previously invested $10 million in PROOF in April. True Ventures, Collab+Currency, Flamingo DAO, SV Angel, and VaynerFund also participated in the funding.

During a community event that was live-streamed and attended by Co-Founder and CEO Kevin Rose, Co-Founder and Chief Product Officer Justin Mezzell, and Director of Product Harri Thomas, PROOF announced its Series A financing.

https://twitter.com/proof_xyz/status/1564689271755137024
<h2>PROOF Made Big Announcement</h2>
CEO Kevin Rose announced on stream that PROOF is creating a utility token for its community in response to recent hints. Rose stated on the show that "creating and issuing a token is both a technological lift and a legal one as well." Details are still sparse. For Q1 2023, PROOF's token project will get fully revealed. PROOF also announced the Moonbirds Mythics offshoot collection, which will cover 20,000 NFTs and debut in early 2023. Mythics, which follows the original <a href="https://www.moonbirds.xyz/" target="_blank" rel="nofollow noopener">Moonbirds</a> and a recent spinoff called Oddities, is the startup's third NFT profile picture project.

The announcement came soon after the company decided to make the Moonbirds and Oddities characters public domain, allowing anyone to combine them for commercial use. Earlier in August, the business switched the two collections to Creative Commons Zero (CC0). With its new platform, the firm appears to be shifting away from the creator economy to the blockchain infrastructure sector.

Owners of the two collections who felt they ought to have engaged in the decision to transfer Moonbirds and Oddities to CCO reacted negatively to PROOF.

Web3 Startup PROOF Raises $50 Million in Series A Funding

A $50 million funding round led by Andreessen Horowitz is completed by PROOF, which announced its Series A financing during a community event live stream.

Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

Web3 Startup PROOF Raises $50 Million in Series A Funding

Top Picks