a16z leads $50 million in funding for NFT organization Proof Collective

NFT

a16z led a $50 million Sequence A fundraise for non-fungible token (NFT) group Proof, a personal members solely collective of 1,000 devoted NFT collectors and artists.

Extra individuals within the spherical embody Collab+Foreign money, Flamingo DAO, SV Angel, VaynerFund and Seven Seven Six, the group mentioned Tuesday. Alexis Ohanian’s VC agency Seven Seven Six led a $10 million funding spherical in April for Proof.

This marks the primary a16z funding in Proof, placing it on half with the likes of Yuga Labs and Larva Labs — with the notable distinction of getting its two foremost NFT initiatives within the public area.

Moonbirds and Oddities had been moved to CC0, or the general public area, earlier this month. Which means the artwork is now within the public area and will be freely distributed, augmented and commercialized with out the proprietor’s consent. Proof received push again with individuals arguing that that they had purchased into the challenge believing that they had unique rights to their NFT, solely to have these taken away with out prior discover.

Moonbirds are buying and selling at round 13 ETH (about $20,000) at this time, down from 16.5 ETH on Aug. 8, when the CCo transfer was introduced.

Proof additionally mentioned at this time it’s making a Moonbirds DAO, which can oversee licensing of the Moonbirds title by granting trademark rights and deploying capital to initiatives that “additional the Moonbirds mission.” The DAO will management a soon-to-be-formed DAO treasury.

Proof has additionally introduced a forthcoming NFT challenge known as Moonbirds Mythics slated launch in “early 2023.” Moonbirds Mythics is a profile-picture assortment of 20,000 NFTs which have “an eye fixed in the direction of giving again to unique Moonbirds and Oddities collectors,” the group wrote.