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NFT collective PROOF has raised $50 million Series A led by a16z crypto

PROOF, the NFT collective, founded by serial entrepreneur and venture capitalist Kevin Rose has raised $50 million Series A led by a16z crypto with participation from Seven Seven Six, which previously invested $10 million in PROOF, True Ventures, Collab+Currency, Flamingo DAO, SV Angel, and VaynerFund, the company said by August 30.

Founder Kevin Rose, one of the”Top 25 Most Influential People on the Web” by Time Magazine said “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,”

“We believe that the next generation of massive mainstream media franchises will be community-owned and governed, and PROOF is one of those companies demonstrating just that,” said Sriram Krishnan, General Partner at a16z crypto, “PROOF is an exciting combination of a seasoned team of founders building interesting technology and product experiences with a real focus on community. We couldn’t be more excited to partner with Kevin, Justin, and the entire PROOF team to help them develop into a leading web3 company.”

PROOF has PROOF Collective and Moonbirds — the project has become one of the most exciting NFT brands, known for experimenting with novel mechanics, new models for shared incentives, and ongoing utility. PROOF is working towards a future where NFT collections unlock utility and collaboration across communities, while simultaneously diversifying and connecting the NFT space for artists, collectors, and enthusiasts.

Last week, Animoca Brands Japan, a unit of NFT and metaverse investor Animoca Brands, has raised $45 million to secure local licences and investments from MUFG Bank.

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