PROOF, to whom the NFT community owes the Moonbirds collection, has completed a Series A financing with the famous fund a16z to the tune of $50 million. Other new features are to be expected, such as the launch of a future token, as well as the storage of NFTs totally on-chain.

Moonbirds creators raise funds with a16z

In a difficult market environment for non-fungible tokens (NFT), the collective PROOF of Kevin Rose, at the origin of the moonbird collection, announces that it has concluded a fundraiser with the company Andreessen Horowitz (a16z). This news was revealed during a live web conference, during which several announcements were made.

This Series A funding round rises up to $50 million. Among all the investors, we find for example the entrepreneur Gary Vaynerchuck through his fund Vayner Fund.

This capital must be used in particular to develop a new social platform, administered through of a future PROOF token. This community must revolve around its own ecosystem, for example by giving the right to exclusive content such as research reports or privileged access. to NFTs collaborations.

Thus, the project aims to develop well beyond the Moonbirds, which had already been talked about when they were launched, by generating 300 million dollars in volume in three days.

A non-fungible token directly on-chain

In addition to raising funds with a16z, the creators of Moonbirds have decided on a project that is interesting to say the least: chain storage of NFTs. Currently, only the code of a non-fungible token is truly hosted on the blockchain. This is in any case true for the vast majority of projects. The images, them, or any other content, are stored on centralized servers.

This means that if this server disappears, the associated image also disappears and the NFT would most certainly see its value take a hit. Moreover, this constitutes a focal point additional.

PROOF therefore sets itself the objective of regulating this friction. For this, Moonbirds must become the first major collection to be fully hosted on-chain. The PROOF teams have not yet specified which process will be used, except that integration into smart contracts is mentioned.

On the other hand, the Moonbirds, currently in 6th place among the most capitalized collections on the market, must expand by 2023. Indeed, Moonbird Mythics must see the light of day, with 20,000 copies, which must be distributed as a priority. to owners of Moonbirds and Moonbirds Oddities.

Despite the difficult market context, these elements show that some projects are staying on course for the long term and continuing to build.

Source : PROOF