Skip to main content

Kevin Rose Announces New NFT Collection and $50 Million Proof Raise

Kevin Rose Announces New NFT Collection and $50 Million Proof Raise
 The Alpha:

  • Proof -- best known as Kevin Rose's brainchild and the force behind Moonbirds and Oddities -- just wrapped up 'Future PROOF,' a live-stream community event with a focus on what's next for the brand's ecosystem.
  • Rose and his team shared what's on deck for the next few months of 2022, including support for its CC0 collections, updates on the forthcoming Moonbirds DAO, and Proof's third NFT collection: Moonbirds Mythics.
  • Headlining the stream was an announcement on the collective's expansion -- driven by an additional $50 million in funding -- and early plans for Proof's very own token. The kicker? It will be driven entirely by utility.

Why it matters

Without a doubt, Proof and Proof Collective (a subsidiary of the larger Proof brand) are two of the biggest names currently active in the NFT space. Beyond their success with Moonbirds, PROOF has also successfully stewarded other successful projects, like Grails and Emotes.

Additionally, members of the Collective have taken on the lofty goal of being stewards of the NFT sp
ace as a whole through the process of curation. As mentioned by Co-Founder Kevin Rose during an April episode of the nft now podcast, in "the stock world, there are professional organizations that do nothing but gather data and create really in-depth research reports. We want to be that for NFTs."

But there just might be two big obstacles standing in the way of all of that: the bear market and bad actors in the space. A May 2022 phishing attack saw one of PROOF Collective's members lose an estimated $1.5 million in NFT following a mistaken click of a link.

As such, Rose, PROOF Collective co-founder Justin Mezell, and Director of Product Harri Thomas took to the hour-long live stream to assuage some of those concerns. To maintain its forward momentum, Proof successfully raised $50 million in funding led by a16z.

"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," said Rose during the live stream.

What's next

Proof also used the stream to comment further on Moonbirds and Oddities' recent shift into CC0 collections. Reportedly, "freeing IP" as characterized in the press release, "can lead to new creative endeavors and bring more attention to [NFT projects over time]." But what does this mean for Moonbirds, which currently stands as one of the best-selling NFT collections of all time?

That's where the establishment of the Moonbirds DAO comes in. The DAO is set to take charge of "granting trademark rights and deploying capital to projects that further the Moonbirds mission," as per the press release. Said capital will receive initial funding from Proof itself, in addition to ongoing funding from royalties generated by the OG collection.

As a show of commitment to its highest-profile collection, Rose and co. also took the time to announce a follow-up to Moonbirds during the stream: Moonbirds Mythics. The new collection will drop sometime in early 2023, and will be a 20,000-piece PFP collection "with an eye toward giving back to original Moonbird and Oddities collectors."

Future Proof also lived up to its name with another forward-looking development: Moonbirds will be one of the first fully on-chain high-end NFT collections. With this move, the artwork for each Moonbirds NFT will be fully embedded into its smart contract. By transitioning away from off-chain storage, Proof hopes to "[make] Moonbirds accessible for generations to come."

Labels:

Comments

Post a Comment

Popular posts from this blog

Can a Major Esports Network Convert NFTs’ Biggest Detractors?

There's more to NFTs than just the dynamic PFP projects you might stumble across when browsing social media. For many, the traditional view of NFTs is rooted in a discipline very different from the realm of arts: play-to-earn (P2E) games . This is particularly true for Asian countries, where P2E games like the struggling Axie Infinity were the most popular in the recent study conducted by CashNetUSA that analyzed the top sought-after NFTs according to region.  Then there's TechStorm , a Singapore-based digital esports platform that intends to act as an international hub on Web3, which will facilitate collaborations ranging from gamesfi (gaming along with decentralized financing) droppings of NFTs DAO formation, and other things, according to the latest press release . Asia's burgeoning NFT market To develop Asia's Web3 services, the geographical location is crucial. CashNetUSA's analysis found Singapore as the most fascinating country for NFTs, per aggregated user ...
Post a Comment
Read more

Blue-Chip NFT Holders Are Now Eligible for an IRL Rewards Program

    Image Source Google Images  A Wednesday press release announced AssetDash's launch of DashDeals. Similar to AMEX Rewards from Web2, a rewards program based on assets. With DashDeals, you can receive rewards instantly for DeGods NFTs, CryptoPunks, Bored Apes, Moonbirds, and other high-end NFT projects. In addition to iTunes, Nike, and GameStop gift cards, NFT holders can enjoy Apple gift cards, Nike gift cards, GameStop gift cards, and Discord Nitro subscriptions. Why it matters NFTs are no strangers to the promise of utility. There are even some who argue that imposing utility on an NFT project can hurt its quality. For new NFT projects entering the market, utility remains a top priority - particularly for corporate-backed projects. However, most buyers of things expect to be able to use them after they purchase them. As a result, numerous projects have served as membership passes in the past. There will be a message saying, "Buy our NFT, and you'll get X p...
Post a Comment
Read more

A Guide to Magic Eden: A Young Marketplace Making Its Mark

There is a possibility that NFTs might not have gained recognition without the Ethereum blockchain. In the early days of ETH, it appeared Vitalik Buterin's brainchild would always be the go-to platform for nonfungible token sales. However, the NFT ecosystem has expanded far beyond the scope of a single blockchain since the token craze of 2021. With new marketplaces popping up almost every quarter, NFTs are available on virtually every major chain today. In the NFT space, it can sometimes be evident which entities are running sprints and which are running marathons. There is, however, a difference between each of these platforms. You have just discovered Magic Eden, a shiny new marketplace that does so much more than facilitate transactions. This new platform immediately caught the attention of the greater NFT community with its down-to-earth brand voice and fully-integrated Web3 technology. Since Magic Eden began operations a year ago, it has become a serious competitor in the NFT ...
Post a Comment
Read more