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Ahead of its latest collection, non-fungible token (NFT) collective Proof announced the successful raise of $50 million in a Series A funding round on Tuesday.
The latest round was led by Andreessen Horowitz (a16z) with investors Seven Seven Six, True Ventures, Collab+Currency, Flamingo DAO, SV Angel and VaynerFund, also joining.
Proof shared the news during a live stream where the company also released more information about Proof’s third NFT collection set to launch in the beginning of 2023, ‘Moonbirds Mythics’.
Proof CEO Kevin Rose said in a press release:
“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.”
Proof also revealed plans to release an eponymous token some time in 2023, with more details to follow. The company also provided progress updates on its upcoming social platform.
Other updates provided during the event were on the progress of Proof’s upcoming social platform.
CEO Rose commented:
“When we do something it should be uniquely our own, with real utility, something that will push what’s possible in new and exciting directions.”