Web3 Startup PROOF Raises $50 Million in Series A Funding

A $50 million funding round led by Andreessen Horowitz (a16z) 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. Today we announced PROOF has raised a $50 million Series A led by @a16z crypto with participation from @sevensevensix @trueventures @Collab_Currency @FLAMINGODAO @svangel and @garyvee. More info here https://t.co/h3Bq0BjL6B — PROOF (🥃,🦉) (@proof_xyz) August 30, 2022 PROOF Made Big Announcement 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 Moonbirds 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 cha...