PROOF Collective Successfully Raised $50 Million In Series A Round

PROOF Collective, the unit behind the NFT Moonbirds collection, has just closed a $50 million Series A funding round led by a16z.

PROOF Collective, the creator of the popular NFT Moonbirds, has successfully raised $50 million in a series A round ahead of the launch of a new collection, the company revealed at an event yesterday.

Leading the round was a16z, with the participation of Collab+Currency, Flamingo DAO, SV Angel, VaynerFund, and Seven Seven Six.

PROOF Collective CEO Kevin Rose stated:

“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.”

Also, during the event, the company revealed that it will release a third collection called Moonbirds Mythics with 20,000 NFT for those who own Moonbirds and Oddities, expected in early 2023. In addition, PROOF also has plans to issue a token of the same name sometime next year.

PROOF Collective is the organization behind two popular collections, Moonbirds, and Oddities, founded by businessman Kevin Rose. Recently, Moonbirds announced a major change in its controversial intellectual property policy.

Accordingly, the project will grant Moonbirds and the Oddities derivative collection a Creative Commons Zero (CC0) license, which waives the right to collect royalties on these NFTs.

In addition, PROOF is building the Moonbirds DAO, which is responsible for overseeing and granting trademark rights and deploying capital for projects “to write the Moonbirds mission.” The DAO will also control an upcoming treasury.

Moonbird was once one of the NFT collections that emerged with record trading volume, sales of Moonbirds even outstripped Bored Ape Yacht Club and Azuki.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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