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.png "A16z leads Proof's $50M Series A funding round.")
Andreessen Horowitz led Proof's $50 million funding round (a16z).
Seven Seven Six, True Ventures, Collab+Currency, Flamingo DAO, SV Angel, and VaynerFund participated. 776 invested $10 million in PROOF in April.
The company also provided details about the web3 platform's technology and aims to expand the ecosystem.
The startup is creating a platform to let NFT collectors collaborate with communities and unlock utilities.
Kevin Rose, Justin Mezell, and Harri Thomas announced Proof's Series.
Live-streamed event financing. Kevin Rose said, "It's terrific to have this vote of confidence from web3's most respected investors, as well as capital to maintain producing exceptional products and services as we mature our business over the long term."
PROOF is designing a Web3 social platform that will be managed by a DAO (decentralized autonomous organization).
Insights about NFT will help platform users make judgments.
Once the beta version of the platform is launched, holders of PROOF Collective, Moonbirds, and Oddities tokens can show their NFTs.
Which allows commercial character combining. The company switched its two collections to CC0 in August.
With its new platform, the business appears to be changing its focus from the creative economy to blockchain infrastructure.
The two collections' owners were angry with PROOF because they felt they should have been included in the transfer decision. This drew criticism on PROOF.
The company will also place Moonbirds on-chain while launching a new collection called Moonbird Mythic in 2023.
PROOF will also create a Proof token for its ecosystem. Also scheduled for 2023.
Kevin Rose commented, "The world doesn't need another speculative token." When we do something, it should be unique and useful, pushing what's possible in new and interesting ways.
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